HN Explorer

Ask HN: So, Bitcoins - would you still buy them?

3 points by jagermo ↗ HN
I am fascinated by Bitcoins. I set up my wallet last year, but never bought them (yeah, I know. Idiot). But I am still fascinated by the whole concept and I'm thinking of buying one or two. The only thing is - I have no experience in trading stocks and this rapid growth looks to me like some kind of bubble. So, HN, what do you think - is the growth somehow sustainable or will this thing burst? (edit, somehow only half of my entry was posted. Sorry for that.)

6 comments

[ 2.0 ms ] story [ 20.2 ms ] thread
chrislas
As long as you have the funds to spare. Just don't invest anything you can't afford to loose.

That's what I do. I agree, it's very fascinating to watch a digital currency come into use.

I've bought two cell phones, and a video card using bitcoins. And I've hired a developer for a day with bitcoins. So I see some value besides just investing in them, which also was a bit more incentive.

jagermo
Yeah, I wanted buy them and then just see what I can do with it. It just looks fun to have them and play with a digital currency.
dangrossman
If you were planning on buying $50 worth of BTC last year, you can buy $50 worth today. Don't think about buying "one or two". There's no benefit to having whole numbers.
gonepostal
This is my whole problem with Bitcoin. Too many people see it through an "investment lens". Bitcoin is supposed to be a currency not an investment at it's heart:

"Used as a medium of exchange for goods and services, currency is the basis for trade."

People's perception coupled with the deflationary nature of Bitcoin makes me not want to participate.

jagermo
I think I phrased myself wrong. For me it is not an investment (as in: Buy now get rich), but more a experiment or plaything. I'm just not sure if I shouldn't wait another month or to for the BTCs to get drop again. On the other hand, they are just money, so if I have BTC worth 50 USD i should be able to buy stuff worth 50 USD (using more or less BTCs). I just need to wrap my mind around it.