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  • Category: Miscellaneous

    In the shadow of Bitcoin investment

    Bitcoin is the digital virtual currency in internet and people have heavily invested in it through various Bitcoin investment internet companies and exchanges. There are many Bitcoins with different different names but all of them are virtual and have no physical significance. They were and are being generated through a complicated computer algorithm and the limit of this generation is predefined.

    These digital currencies are kept in secured vaults and can be sold and bought by the prospective investors who have a vision for making big money in future.

    Recently one of the owner of a Bitcoin investment company died while travelling in India and the password of highly secured Bitcoin wallets and vaults is buried along with him.

    The investors are in great distress as there is no clue to anyone about the money invested in Bitcoins by so many people.

    This is a big blow to the digital virtual currency and has placed a big question marks on the independent nature of this business as this digital currency is not under the control of any Govt or authority.

    What do you think about these developments in Bitcoin market? Please share your views.
  • #658402
    Yes i saw the news and I laughed so loud. Yeah. I shouldn't have. Cryptocurrency is neither fully illegal or legal, making it hard to deal with. And since it is analogous to stocks because the monetary value keeps fluctuating, it is many times riskier to invest at. But since you virtually lose nothing or too little, bitcoins have been in trend. Even online paying apps, would launch bitcoins as payment. But now Crypto is at crisis. I am sure he might have hid his secrets in a less secure place for occasions like these. Let's see how it goes.
    The stronger a light shines the darker are the shadows around it.

  • #658403
    I have seen the news. I am feeling sorry for those unfortunate investors. Perhaps now they would stop investing in crypto-currencies.
    Come on, have a fight. Don't shoot and scoot.

  • #658404
    I am fortunate that I didn't buy bitcoins as one of my colleagues literally forced me to buy them but i didn't. Whereas many of the others bought them and now bearing the loss caused.
    Sanjeev

    " It is better to be hated for what you are than to be loved for what you are not" ... Andre Gide

  • #658414
    True that it is a riskier than many other investments. But we can not say, it is fully illegal. Because, many apps are accepting these crypto currency and considering it as future exchange currency ad globally accepted. Many corporate welcome it and designing their system to adapt and accept crypto currencies, so that they can maintain same price globally for online shopping. There are few company's already accepting few types of crypto currencies. Microsoft also accepted Bitcoin in 2014 but stopped accepting now. So, the death of the Bitcoin owner may not be the end to this crypto currency era.. Few measures will soon be taken to reduce the risk and regulate the safety of the investors
    Sri Vetri
    Spread Positivism

  • #658421
    Bitcoin is not supported by any Govt. It is said that it is the most secured independent system in the digital virtual world and in fact there was a craze for it some time back and people invested heavily in it.

    This incident has raised questions on the security of the investments done by the gullible investors.

    Thoughts exchanged is knowledge gained.

  • #658425
    We all know digital currencies come with lots of risks. Investors are familiar with them and after thoroughly understanding the terms and conditions, they invest in bitcoin. The news is shocking. Most of us, especially those who invest in bitcoin are familiar with the advantages and disadvantages but I can guarantee that even a single investor might not have thought of such a peculiar risk involved with investing.

    As mentioned by the author that since the digital currencies are not owned by the Government, the investors are on their own. I highly doubt whether this bitcoin investment company will be able to find any solution soon. There are no ways through which one can determine the lost or stolen currencies. There are no ways through which exact investment can be determined in case the password is lost. In the interest of all those investors, I hope the company recovers the password in some way or the other.


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