So, have any of the dudes poo pooing on bitcoin cleared 300 000 investing in the more solid stuff.....?
I once put a $20 bill in a slot machine. It payed out $6,500.00 net profit after they took out federal taxes.
Thats a 32,500.00% return on investment.
I wouldn't recommend it as an investment strategy though.
Same with bitcoins.
You have to calculate the total cost of being at the location of the slot machine plus the total cost of the money you invested in gambling on the trip divided into the total return you had in pocket upon return home. So even if you were in Vegas on business and invested a $20 in a slot on a whim on the way through the casino to the strip burlesque transvestite ABBA tribute show, (all I like to see when I am in Vegas) you would have had a 3250% return I believe.
Still, congrats.
So, have any of the dudes poo pooing on bitcoin cleared 300 000 investing in the more solid stuff.....?
Depends on what you mean by "solid"
Anyway, I suspect the ROI you got would be damn hard to match -- it's great to get out of a bubble before it bursts. Some of my original ORCL shares had that benefit. The ones that vested in 2000. Not the ones that vested in 2001. Dig?
My point being if we would have taken Terror Australia's advice when he tried to get people interested, we all would have payed for houses.
As it is, you are right, there was a bubble. However I think once the bitcoin to FRN ratio settles down I think the concept will prove to be useful. It got too high to be used for trading which is it's primary use/ value (as opposed to silver which has commodity value as well as trade) so there was indeed a need for a correction which it uh....did.
If It gets under $5 I'll invest in some. I will be using the things on my next international sale no matter what.