Should you invest in bitcoin? The short answer is no. Why? Bitcoin is a decentralized currency run by a unique algorithm that spits out a code. If you lose that code than you lose how every many dollars you have invested in the platform. Bitcoin is put simply a ponzi scheme that will one day collapse.
No, you say? Well, that is what people who invested in Enron and Wells Fargo said too. Now look at them, a pathetic mess of people with holes in their pockets and not a dim to show for it. Perhaps, bitcoin will continue to operate another 10 years or so, but the operators of bitcoin cannot keep up the act for much longer than that.
Very few people accept bitcoin as currency and so the old adage goes, ‘it’s only money if the people believe its money’! If you are one of doomsayers than I would recommend staying away from this currency as you will be best off investing in gold or silver. Any assets that you can physically hold is better than bitcoin.
Bitcoin has been around for a while now but it cannot get the public to use it for the basics of life. Criminal believe that it is an untraceable currency which is perfect for money laundering. Well I got news for you. Yes, once it was untraceable but now with all the tech nerds out their helping the FBI and other global law enforcement agency it’s now traceable.
But you must be kidding? No, not at all. Just take a look at the founder of the silk road and how he was financing his operations. That’s right, he used bitcoin and encrypted his computer and all that tech nerdy crap that computer geeks do yet, still got caught.
Ah, bitcoin is just a dreamers investment and money laundering tool to fuel the foolishness of people not intelligent enough to recognize the scam. Take my advice and watch the foolish lose their money.
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