To me, bitcoins look more like tulip bulbs. Andy There are at least three ways, though only one of them looks rational today. First, you could mine your own bitcoins. Second, you could buy some from an exchange. Third, you could buy shares in invest fund that has invested in bitcoins. Please note that answering your years is not a recommendation, and I am not qualified to give advice on investments.
However, as electronic payments expert Dave Birch put it to me on Twitter: The problem is that people can make money by buying things that are essentially worthless, such as used postage stamps, Beanie Babies, and historically tulip bulbs.
For example, tulip bulb prices may be insane but they keep going up. I may be a bitcoin to buy them, but I expect a bigger fool to buy them from me.
Why Invest in Bitcoin?
This works until you run out of fools. Their prices may vary dramatically, but over the long term, they retain real value. When tulip bulb prices were tumbling, everyone wanted to sell. Does Bitcoin have value? Bitcoin is a digital currency.
In reality, you have to balance a range of factors including convenience, security and transaction costs. Bitcoin if you are investing, does bitcoin have an intrinsic value, like gold? The price of a bitcoin may increase because, for example, it is attractive to technology enthusiasts, and because we are years reading stories about how people made — or failed to make — fortunes.