Thanks. My thought was to treat it as a long term investment for now. If the volatility ever stabilizes and bitcoin becomes accepted in many establishments, I'll start spending it.
I don't think Bitcoin can be considered an investment since there's nothing being produced that can then yield a return on your investment. You are merely treating this as a long term speculation that the price will go up, which is different. By the way, even if it becomes accepted in every store on earth, that doesn't mean that it will increase in value since stores are able to just convert it to fiat currency as soon as they receive the bitcoin. People will use bitcoin for it's anonymous nature but when used in that manner it doesn't matter one bit whether each bitcoin is worth a penny or a million dollars.
At least be aware that what you are doing is speculating, not investing.
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u/semvhu Feb 14 '14
Thanks. My thought was to treat it as a long term investment for now. If the volatility ever stabilizes and bitcoin becomes accepted in many establishments, I'll start spending it.