08 Apr '13, 6pm

Bitcoin Trader: Buy on Dips

The bitcoin logo (Photo credit: Wikipedia) I have been curious about Bitcoins — an unregulated electronic currency running on a computer network — ever since June 2011 , when I first wrote about them after a hacker broke into Mt. Gox , a Bitcoin exchange, sending its price plummeting from $30 to pennies on the dollar. After reading my post in which I compared the risk of Bitcoin to that of Cyprus, a Bitcoin trader contacted me and shared his views on their value as an investment. In a nutshell, this trader is bullish and plans to buy it on dips. Kent Liu is getting a master’s degree in materials science from Cornell and on April 4, he explained to me how Bitcoins are minted and tracked and why he is so bullish on them. Liu began trading Bitcoins earlier in 2013. He believes they will go up because Bitcoins operate on superior “fundamental properties” and thanks to all the ...

Full article: http://www.forbes.com/sites/petercohan/2013/04/08/bitcoin...

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