Bitcoin’s value is purely speculative, meaning that its value is only based on what other people say they would pay for it. It’s a trendy Ponzi scheme; that is that it uses new money coming in to pay the people who want to cash out. The scheme falls apart once everyone wants to cash out at the same time. Bitcoin and all the other crypto currencies are going to crash and burn in the near future. You’re far better off putting your money into stocks or a mutual fund if you’re looking to invest.
I don't care about it much, but one of my best friends is really interested in it and he also seems to actually know a lot about this subject. Personally, I'm not even sure if the thing is trustworthy at all, but maybe it's just my impression.
It annoyed me last year when the cost of Nvidia cards skyrocketed. I can’t even see Bitcoin being a usable form of currency right now because of how unstable it is.
I've heard about, watched shows/docs about it and I STILL don't have a clue what it is or how it works.
I don’t really know what bitcoin is and I don’t really pay attention to it. Sounds like it’s horrible for the environment and a bad investment, though.
I don't think it's safe. I don't invest in them and I don't suggest others to invest in them. The ones that made money out of them are the ones that control it.
When bitcoin first started a friend of mine who was an IT worker bought £50 worth to “just see how this cryptocurrency works” At that time there wasn’t actually very much you could buy with them and he pretty much forgot about them until the rocket in value about 5 years ago. He found the drive with the wallet and sold them for £800. They’ve probably been much more valuable since but way too volatile for everyday use.