A Site for Buying and Selling Bitcoins

First, let me say that I have never personally bought or sold Bitcoins, or any other digital currency. My preferences lean the other way, for things with real value such as precious metals, real estate, etc. (Yeah, yeah, I know. The price of gold has been falling like a rock recently. But give it five years ….. )

Having said that, if you are a fan of fiat currencies, which includes basically all currencies issued by any government in the world today, then digital currencies may be even more fun for you. A “fiat currency”, for those who don’t know, is one that is backed by nothing other than the promises of the entity that issues it, i.e., nothing!

Bitcoins seem to be the leading “crypto coins” at the moment, and I recently stumbled across a site that buys and sells Bitcoins, and other digital currencies: vircurex.com.

I have no connection with this site, and I have never used it, so do so at your own risk! It is interesting to see the buy/sell prices of these currencies. (I wonder who is buying them, and why?)

By the way, the Bitcoin org “you-need-to-know” page says the following: ” … keeping your savings in bitcoin is not recommended. Bitcoin should be considered as a high risk asset, and you should never store money that you cannot afford to lose …”

Doesn’t sound like an investment that appeals to me.

References for further reading:

1. Wikipedia article on Fiat Money.

2. Another article on Fiat Money, this time more sensationalist. (It’s failing! AAHHH!!!)