James Howells searches for hard drive with £4m-worth of bit coins stored.

Oni · 12-02-2013, 11:44 PM

With the value jumping up and down, it's a gamble to buy Bitcoins. The value of James' Bitcoins could easily drop in a few days. It's unpredictable.

w00t · 12-03-2013, 01:54 AM

Bitcoin actually have a pretty solid upward trend. Log scale of the last 2 years to show the average.

cr33pyguy · 12-03-2013, 04:35 PM

OOOH... I feel bad for this dude Sad

Hope I had that shit Wink

Oni · 12-04-2013, 01:29 PM

(12-03-2013, 01:54 AM)w00t Wrote: Bitcoin actually have a pretty solid upward trend. Log scale of the last 2 years to show the average.

Overall? Yes. However, nobody wants to be there when the value drops. And if you look at the graph, it does drop.

lux · 12-04-2013, 02:45 PM

(12-04-2013, 01:29 PM)Oni Wrote: Overall? Yes. However, nobody wants to be there when the value drops. And if you look at the graph, it does drop.

But after all the drops it raises. But there will be a time were it doesn't rise again.

Raptor · 12-17-2013, 07:34 PM

(12-04-2013, 02:45 PM)Lux Wrote: But after all the drops it raises. But there will be a time were it doesn't rise again.

That's a slightly contradictory statement. The time when it 'doesn't rise again' is more or less unpredictable, the events that could encourage such a thing could happen at any given time. That leads back to Oni's point of how it's a gamble, because it could theoretically plummet overnight - but you won't know until it happens. Though that rule of thumb does practically apply to any stock investment, which is what Bitcoin pretty much is.