Bitcoin ATM maker announces plans to expand to U.S. and beyond

[LynneSin]

24. Oh I have alot of clue what I'm talking about. Rolling Stone Magazine had some great articles.

There's an old adage - a fool and his/her money is soon parted and to me that applies to bitcoin technology. Have people gotten rich off of it - sure they have. People also got rich off of selling kitchen knives thru a Pyramid scheme but usually only those people at the top of the pyramid who invested first. Everyone else ended up losing money and have a couple dozen sets of kitchen knives in storage that no one wanted to buy.

I'm not saying that our government and bank is perfect when it comes to our money, but at least there is someone who is can be held accountable should the currency market have issues.

Bitcoin technology means I have to take a serious leap of faith that if I invest in these bitcoins that somehow hold their value and I'm relying on unregulated technology that could just disappear into thin air - kinda like what MtGox has done. (it's all in the news today or do you not have a clue with what is happening now or just get back to me when you read about it). I could just mine for my own bitcoins but what I read is that to do the mining I'd have to invest in about $3k-$5k worth of computer technology just to have the ability to mine these coins. Those kitchen knives are looking like a better investment if you ask me.

What is worse is how bitcoin is tied in so very closely with the underbelly of the internet and criminal activity. The type of internet that can only be accessed thru special browsers where users can use the Silk Road website (or new versions popping up since I think Silk Road was closed) to buy illegal drugs, guns or even a hitman. The fact that bitcoins are the currency of choice on the black market and criminal world is probably why the value of the bitcoins are holding up right now. But what happens when access to that kind of criminal activity is cracked down on by the government? You think bitcoin values are going to hold up for Amazon, Ebay and Zappos shoppers?

My parents taught me young about avoiding 'get rich' schemes because what seems all hopeful and promising up front usually has a dark and despairing side underneath.

So please make sure you read more about the dark side of bitcoins since clearly you don't have a clue either.

Or better yet don't assume shit!