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Anorak | There are bad Bitcoin investments and then there are terrible ones

There are bad Bitcoin investments and then there are terrible ones

by | 26th, September 2013

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YOU can mix and match these around either way you like: one is fairly obviously a scam and the other one just doesn’t make any sense in any financial manner. But amazingly, the one that doesn’t make any sense is also the one that’s entirely legal. So go figure, hunh?

For those knew to the idea of what Bitcoin is it’s a purely imaginary currency. It lives as bits and bytes on the world’s computer networks. There are those who think that it’s going to be the next big thing, a currency not controlled by any government. There are also those who regard it as a passing fad and not really good for anything very much. But, given that it’s fashionable there are people crowding around it and trying to make a buck off it. One of them is this one :

 Back in August, weird ads began appearing for something called the Bitcoin Robot that purported to earn massive profits by making hundreds of small transactions a day in the virtual currency, a version of the lucrative high-frequency trading done on Wall Street.

You know how these things go: stick together a few currently fashionable buzzwords and people will send you money.  High frequency trading has everyone all of a twitter at present, so does Bitcoin, so

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Posted: 26th, September 2013 | In: Money Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink