I can't agree with your take on Bitcoins, Genoxy. I think that...

I can't agree with your take on Bitcoins, Genoxy. I think that if you do some research into them, you'll change your mind. There are many places to learn more, but you could do worse than just look at some of the many YouTube videos on them. Many of these are not particularly helpful, but some are very good, like this one for example:

Bitcoin Architect: Everything You Need To Know About Bitcoin
by ChrisMartensondotcom 3 months ago 5,666 views
http://www.youtube.com/watch?v=7gndSZVMbTY

I would like to see them correct, so that I can get in for more at a better price. However, I'm dubious that they will substantially correct in the near future ... and perhaps not for a long time yet. People in general are only now becoming aware of them and, as they gradually start to understand them and their potential, many more people will want them.

But it is not simply a matter of "... just noticed these Bitcoins going up like a rocket ... there'll only ever be 21 million of them ... I see them becoming more and more accepted as a medium of exchange for merchants and others ... governments don't seem to be opposed to them ... maybe I'll have to get some of these."

From this point, there is a pretty steep learning curve to understand the underlying principles and just how they work, to learn how to buy, spend, and sell them, how to protect them from hacking and theft once you've bought them.

All of this takes some time. Because of this, I think a lot of people will have begun on this learning curve, but will not be immediately ready to buy any ... not until they've satisfied themselves that they know what they're doing and how to do it. I think this group will be expanding for some time as yet, so I can't see any major collapse of the price in the near future - unless there is some quite adverse news, which is always a possibility, of course. But, personally, I believe Bitcoins and other cryptocurrencies will be here for good and will become much more ubiquitous.

I suppose that if the hedge funds and algorhithmic traders begin to play with them that they'll develop in a less predictable way. I've already noticed a YouTube video where this guy is talking about setting up a Bitcoin ETF, the idea of which is troubling to me ... thinking about the way the gold ETF (paper gold) affected those markets.

I'm no economist and I may be wrong about this, but actually I look forward to their obvious deflationary effect in the future, which will mean that my small amount of wealth will give me more spending power by making things cheaper.

Cheers,

Tez

All of the above is only my personal opinion and, believe me, I am no expert. Do your own research.