Bitcoin under review: my advice

I just notice 125 visits yesterday just in my bitcoin article...

As i posted i bought 1 cheap, and also bought 2 more at 75 €but sold all at 99€ thinking the price will go down...

Well, i turns out everyone is crazy trying to get one, and the people with some, don't want to sell or just uses them to play trader or cornering the market. After registering in the major exchanges in the last week, i can give you a proper review soon.

First, it all just look too shady, first my bitcoin-central account went down , it says hacked, so i had to put even more money to buy another coin to continue playing...
Also mtgox has a huge list for id approval. so i guess many Europeans are waiting in line to put their money in...

I smell many people without the proper computer knowledge putting money it, be carefull, only put money you can afford to lose. Virus=Goodbye to your coins

And believe me the old nigeria scam "send your money with Western Union or Money gram" it's so 1990's !! Now it's "send your money with bitcoins and we will send you X"

The price rises i suspect is being caused by people that want to hold bitcoins for a long time or merchants that ¡¡ sell or exchange bitcoins to new people for huge fees!! . So they need liquidity, what better to buy asap, in case the price goes up, i think the price may stagnate in the future.

This is a dark market potential here, but it is impossible for it to became mainstream, well unless you call mainstream tax avoidance...

Why? well, first it's slow, very slow. Transactions can take days to confirm if you are sending small amount of money and you don't pay any transaction fee.
At the moment the transaction fee is 0.0005btc, so, less than a cent of $ but, it's too much.
Second, it cannot support too much transactions, the same, the more transactions the more the delay unless you pay bigger fee.

So, you bought one with bitinstant... what can you do with you bitcoin now?
Gamble it!


Click here to visit my new website with all the important links to BUY or "earn " some bitcoins or should i say milibitcoins...