Bitcoin is not an investment at all—Currency is a medium of exchange, not capital equipment, and a currency which consumes real resources to create (in this case, computation) represents a complete misunderstanding of what money is for, and is also inherently worse for the economy than a fiat currency.
Because all resources diverted to the production of coin are taken from the real economy, making everyone poorer than they have to be.
It is possible to make money separating fools from their wealth in this market, but doing so is a negative sum game overall—you are actively making the world worse when trading in bitcoins—and since there is no underlying real value being produced here at all, winning at this market is 100% a game of predicting the psychology of the crowd. Which means loosing your shirt is very easy, no matter how clever you are.
So basically, invest in something else. Nearly anything else. Playing poker would have greater net social utility because at least that has some entertainment value to the players.
Bitcoin is not an investment at all—Currency is a medium of exchange, not capital equipment, and a currency which consumes real resources to create (in this case, computation) represents a complete misunderstanding of what money is for, and is also inherently worse for the economy than a fiat currency. Because all resources diverted to the production of coin are taken from the real economy, making everyone poorer than they have to be. It is possible to make money separating fools from their wealth in this market, but doing so is a negative sum game overall—you are actively making the world worse when trading in bitcoins—and since there is no underlying real value being produced here at all, winning at this market is 100% a game of predicting the psychology of the crowd. Which means loosing your shirt is very easy, no matter how clever you are.
So basically, invest in something else. Nearly anything else. Playing poker would have greater net social utility because at least that has some entertainment value to the players.