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
- Technical Signs of a Top Forming | ZeroHedge
- "Danger, Will Robinson!" | ZeroHedge
- The Answer to All of Your Problems is War, Gentlemen | iBankCoin.com
- Saudi Arabia and Iran Compete in Yemen | Financial Sense
- Talkin’ and Yellen: Understanding the Fed | Financial Sense
- Are We In A Biotech Bubble? You Decide | ZeroHedge
- The Fed's Artificial Steepening Of The Yield Curve | ZeroHedge
The most relevant financial news and articles from the Internets
- Twitter's new video streaming app is better than Meerkat (TWTR) | Business Insider
- Angela Merkel is the biggest threat to Europe's recovery | Business Insider
- Why Kentucky is such a juggernaut this season | Business Insider
- Researcher shows a ridiculously easy way to hack into smart... | Business Insider
- The 10 U.S. tech companies with the most cash stashed overseas | Business Insider
- Two astronauts are about to launch on a crazy mission that will change how we... | Business Insider
- Shock and anger after 'deliberate' Germanwings crash | Business Insider