Is Bitcoin a Good Investment?

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Dave explains how currency works and shares his opinion on the digital currency known as Bitcoin.

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IN THIS VIDEO: Dave Ramsey, The Dave Ramsey Show, Financial Peace University, FPU, The Total Money Makeover, budget, envelope system, emergency fund, baby steps, radio show, debt freedom, EntreLeadership, mortgage, ELP, daveramsey.com, money, finance, economy, investing, saving, retirement, cash, mutual fund, stock market, business, leadership, credit, drtlgi

20 COMMENTS

  1. bitcoin isnt just comething that some guy dictated its value and typed up into existance. It is unique because it really does require physical work to be done in order to come into being much like gold and silver. Bitcoin has the same properties as gold in value storage except for the fact that bitcoin only existed for a few years while gold has been acceptd for thousands of years.

  2. Currencies are made to circulate. Bitcoin made money spin round the world.
    People got fed and dressed because other people wanted bitcoin. ASIC miners were developed and many got some good jobs in the factories. I get fed and get to keep my house warm in the winter because other people want to play. Play silly games. I fix their toys, they pay me money, others want the money and give me food, water, clothes, whatever I want, for those bills and coins.
    So, Bitcoin as money ain't a bad idea. It puts money in motion.

  3. Smart guy but very very ignorant on bitcoin
    Bitcoin is a currency and Mt Gox was a company.
    Thousands of companies accept bitcoin and I use it for all my online shopping. I can buy from overstock directly but if I want to buy from amazon I go through gyft and buy a gift card. When I buy my gift card with bitcoin I get 3% back. Sure there was a bubble in 2013 but the value has dropped to a more sane level while the network continues to grow. Bitcoin is just another currency only it doesn't need government force to give it value. The value of bitcoin is the network. And sure one hipster blew up mt gox but bitcoin is still roaring along.

  4. I don't think bitcoin should be an investment vehicle. It is great it is a vehicle now because it gets attention. I think the real goal of bit coin is to become so common so plain, I can trade in bitcoins for goods and services. I can earn bitcoins at my job instead of dollars. I can put bitcoins into a vending machine or get a hair cut at a barber shop or pay my lawnmower. Just like any other currency. Currently, the bitcoin architect doesn't hide anything. All transactions are saved and anyone can look at it, but new security features are trying to make bitcoins as private as- if not more private than – the dollar. I do not use bitcoins because it is still new. I do not care about it as an investment tool. I'm waiting for it to be an everyday currency.

  5. as he says… "a currency is only worth as much is to the extent someone wants it"

    Bitcoins in the 90s were a good investment… pay 2-3 dollars per coin and they are worth over 1k each now…. but vcan you expect someone to buy 1k per coin now and be worth 10k in 15 years?

    It is a terrible investment because bitcoin has stopped rising up ever since paypal and western union have come along.

    Bitcoin is no longer a good investment.

  6. Well I usually respect the things that dave says I can tell he doesn't have hey very good understanding how Bitcoin works. A " computer nerd" cant simply "flip the switch" and take the system down…

    That being said, I definitely wouldn't put my entire 401 K into Bitcoin and hope that it was a sure thing. It's still very risky.

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