How to invest in Bitcoin - BitcoinShop?
That seems like the obvious thesis and that's what the owners of BitcoinShop (TUCND) hope you do. Of course before you sell the farm know that BitcoinShop appears to be a dangerous penny stock.
In a race to be 1st, BitcoinShop holds the title as the 1st publicly traded company. They are not Bitcoin miners. They are only a store front that accepts Bitcoin payments. That's it. Not an Amazon.com in the slightest.
It's a major shot in the dark to take a risk on this stock. Until the company reports its first earnings call there's no point in trading this stock.
The video below with the vague Q/A by the CEO says it all. A reverse stock split to get the penny stock up to a something dollar range. Followed by a really lame attempt at dicusssing his business: A lemonade stand that sells lemonade (made by someone else, like Mom did) and accepts bitcoin for payment. As if a child was running it. Mom made me the lemonade and put out this great table with glasses for me. All I do is hope someone pays me a bitcoin then I give them the lemonade. Only they don't even provide the lemonade. That's housed and executed by a 3rd party provider. Yay, it's a business!
It's a big hype show and they managed to get air time on Bloomberg and CNBC. Mission accomplished.
Bottom line: If you have Bitcoins this may be a fun way to spend it. If you want to invest in Bitcoins, this is not the right option.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Stop Whining America! Economists "Show" You're The Happiest In 56 Years | ZeroHedge
- Former CIA Head Pleads Guilty To Mishandling Classified Information, Faces Year In Prison | ZeroHedge
- STTG Market Recap Mar 2, 2015 | FundMyMutualFund
- Is the Media Trying to "Disappear" Rand Paul (Just Like His Father)? | ZeroHedge
- How Much Crude Oil Do You Consume on a Daily Basis? | Financial Sense
- 2-Year T-Note Shows Path for FOMC | Financial Sense
- Meanwhile In California, Unambiguously Ungood... | ZeroHedge
The most relevant financial news and articles from the Internets
- The 27 coolest new businesses in New Orleans | Business Insider
- Phone recordings reveal Bill O'Reilly may have... | Business Insider
- The NFL Draft is setting up perfectly for the Jacksonville Jaguars who could land the... | Business Insider
- Bayern target top gear, Dresden braced for potent clash | Business Insider
- Community Health Systems (CYH) Unit to... | StreetInsider.com
- Costco is replacing American Express with Visa and Citi (COST, AXP, V, C) | Business Insider
- Hallucinogens Legally Sold as 'Bath Salts' a New Threat | BusinessWeek