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.
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