BitCoin: Where it’s At

BitCoinBitCoin History

According to Wikipedia BitCoin was first mentioned in a scholarly paper in 2008 and became active in 2009.  That article gives a detailed history and overview.

In 2013, some websites started accepting BitCoin in place of currency.  It is, in fact, not a currency but a commodity, but one that can be traded into cash in an instant. It is enormously popular in some circles.  As I write this 1 Bitcoin is worth $436.62 (USD).  It can change drastically and often.

BitCoin Today

BitCoin has grown up in the last 5 years.  Several governments have declared it to be a currency (and as such, taxable).  There are BitCoin ATMs in a small number of cities around the world.  Plans have been announced to launch a BitCoin bank this summer.

For the last 100 days or so, I have been active at several BitCoin sites.  Most notably BTCclicks.  The remainder of this post will consist of MY ideas and MY opinions.  Be warned.

BTCclicks

I got a bad start at BTCclicks.  I joined under my friend Tony Calabrese, and he didn’t get me or anybody as a referral.  Multiple attempts at Support went unanswered.  Unanswered at all and never resolved.  As active as I have been, somebody got a very nice referral that they didn’t earn in any way, shape or form.  I ended up my run (yes, I am done) with 102 direct referrals and I know that I missed a couple also.  Not a great way to do business.

I liked the platform, however, and decided to use it for my BitCoin research.  I upgraded and surfed ads there every single day for the last 100.

I have doubled the cost of my upgrade in BitCoin in the 100 days, unfortunately BitCoin has fallen pretty steadily since I started and I am no where near doubling my investment.  I made a few dollars by surfing religiously and renting referrals.  About 6 weeks ago it became absolutely impossible to rent refs, so the bulk of my money was made in the first 6 weeks.

I’m not sure if the difficulty renting shows a weakness in the site, or a business decision by the site owners.

All that said, I see BTCclicks in a positive light.  More than a few BitCoin PTCs have completely come and gone in the last 100 days, and BTCclicks has fulfilled their part of the contract to the letter.  They paid very quickly every time I withdrew BitCoin.

BitCoin PTC Industry

It’s the wild, wild west out there folks.  Sites literally come and go on a daily basis.  There are a LOT of impossible claims and general scumminess.  There are some legitimate possibilities in the industry, but there are many more that are plain and simply scams.  And more than that are simply poorly funded or have no business plan and fail soon.  Use great caution in this business.

BitCoin Wrap Up

I think BitCoin is legit and tradeable.  It is so incredibly volatile that I won’t trade in it, and I certainly do not recommend it as a trading vehicle for anybody but the most seasoned and savvy traders.

I have given up at BTCclicks because I have done the research that I intended to do.  Had I made more money, there is no doubt I would have renewed my 90 day upgrade and continued.  As I open new projects, some have to go.

I’m just sayin’

Works Cited

“Bitcoin.” Wikipedia. Wikimedia Foundation, 05 Apr. 2014. Web. 05 May 2014. <http://en.wikipedia.org/wiki/Bitcoin>.

 

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