Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
This is pretty much the way I've always felt. Sounds good, but explain to me the value. I have little love for fiat currencies. Elected officials (present company excluded) cannot resist the ability to spend more than they receive. It's not backed with anything other than the good faith and trust we place in Washington (or London, Rome, etc.)
Isn't the bitcoin simply an extension of this to another level? It's only backed by the trust of the people who trust it.
It goes back to the first rule of investing, if you don't understand it, don't put money into it. I also have never understood Bitcoins.
There is a paragraph in the linked article that says, “We are shocked to learn about Mt. Gox’s alleged insolvency,” the foundation said in an e-mailed statement.
"I'm Shocked Shocked that there's gambling going on here."
Comments
This is pretty much the way I've always felt. Sounds good, but explain to me the value. I have little love for fiat currencies. Elected officials (present company excluded) cannot resist the ability to spend more than they receive. It's not backed with anything other than the good faith and trust we place in Washington (or London, Rome, etc.)
Isn't the bitcoin simply an extension of this to another level? It's only backed by the trust of the people who trust it.
Nah,
peace,
rono
There is a paragraph in the linked article that says, “We are shocked to learn about Mt. Gox’s alleged insolvency,” the foundation said in an e-mailed statement.
"I'm Shocked Shocked that there's gambling going on here."
Good to hear from ya rono.