Chomping At the Bit! (Any Thoughts on Bitcoin?)

Hey Everyone,

I've been a member of several financial chats to learn about personal finance, and Bitcoin is always a hot-button topic.

From what I've seen, there seem to be 2 camps of thinking:

A. Bitcoin is the future and will save us from totalitarian governments, giving us full control of our own money.

B. Bitcoin is a Ponzi scheme, and the only way to make money from with it is to get some sucker to buy it from you at a higher price.

What are your thoughts?

For my own self, if Bitcoin could prove meaningful real-life value and was truly decentralized and unregulated, I might be somewhat interested. Some people say it's like owning gold as a hedge against risk, but I personally can't see how.

But the fact that cryptocurrency in general has been subject to fraud and attacks -- and seeing that people cried out to the government for reimbursement when Sam Bankman Fried took everyone's money -- has me more than a bit leery.

I might be misunderstanding, but the only way the government can really step in is if it's regulated, and I thought one of its main purposes was to act as currency that no government could regulate or control.

But I've also read about places in which the government electronically drains peoples accounts overnight, and I know there are fears that this will happen in the USA as well.

If crypto actually was a form of currency that would be readily useful and truly not tied to government control, I would be interested in at least further studying it.

But seeing as this doesn't seem possible any time soon, I've never chosen to invest into it.

* As Christians, what are your thoughts on Bitcoin?

* Is it a savior, or a scam?

* Have you or would you invest in cryptocurrency? Why or why not?

It is something that I, as a lowly fast "food" employee, will never have to mess with.

I can predict this thread will draw conspiracy theorists like a banana eater draws mosquitoes.

I'll be watching this thread though. There should be some interesting comments here in a bit.

total cock. only good for criminals and driving up graphics card prices.

The quoted is more or less my view. It's this generation's Enron, so to speak. I believe that the true value of Bitcoin and all similar coin that isn't sponsored by a govmint is exactly zero and the markets will eventually reflect that. Lots of people will get rich off of Bitcoin, but the vast majority will lose whatever they've put in to it when reality settles in.

Yeah, I think even dumpster diving is more profitable lol.