I wrote a post three months ago about bitcoin. i was fascinated by the new technology. I believed it. IT WAS MY BIGGEST MISTAKE EVER.( refer to my previous post from 3 months).
I started to read and then interest build up and i installed my bitcoin wallet and subsequently got an account on one of exchange platforms.
the days goes by and the bitcoin fluctuate dramatically, fees for everyone, the miners who confirm the transactions and for the exchange people, fees in and out!!
My view
I ended up everything with bitcoin and soon all cryptocurrency.
My reasons.
it is impossible for regular users to practically use bitcoin anywhere at ALL. even if there is a chance this will take unimaginable time. I'll give an example, imagine buying something from Amazon with bitcoin, with you card or paypal it takes seconds to complete a purchase. with bitcoin it can be days!!! yes DAYS! and withing these days the price of bitcoin can change by 30% or 50% so the good you are trying to buy could be possibly 30% more expensive before even paying for it. AVOID.
this is the most important bit which is really painful for me to say because I loved the technology and i believed its peer to peer payment and no government can influence it." ITS IN the HAND OF PEOPLE. "this is an absolute misleading and one of the biggest lies ever. there are less than 10 individuals who control this BITCOIN game. few developers and few Miners. they play with the bitcoin, fight like children and cause disasters.
Imagine you money as a mobile application, so many users, but there are few controlling and updating it. those few who do that are rival teenagers when it comes to bitcoin and they can pause, disagree on something and stop your app"Money" without notice. Would you install this app?
Real life example: Imagine going to a bank and find few teenagers holding calculators, those are going to decide upon your entire financial matters, and even bitterly, those bank teenagers are fighting and mocking each others all the time, will you trust them with your Money? NO. YOU WONT. AVOID BITCOIN and Cryptocurency!
what happened recently if you are following the bitcoin news is a disagreement between those few who brought a "Market nearly as big as Apple" by 50%. That is over 60 BILLION dollars in only few days! its worse than leaving you money in Monkey's hand!!!
I want you to imagine such a volatility in your life. I'll make easier for your understanding. you are getting paid by bitcoin and today is your pay day. you get paid 10 bitcoins. tomorrow these coins equal 5! or less! everything else in the market is the same price.! you basically end to the food bank! is that what you want in your life? This can be equal to 10 Brexit happening all the same time every few days. this can't be the way forward. AVOID BITCOIN AND ALL CRYPTOCURRENCY.
The whales of the GAME decided to play with your life! not just that. imagine this happening every single day! planning you life will be impossible . and because they know what will happen" they make the future of bitcoin" its only normal users who lose big big time!
I'll Try to make videos to educate people to stay away from this disastrous game. and finally, i prefer a government and Banks who take decisions after consulting experts and these decisions wouldn't turn you life upside down if few days at worst. some of these decisions have to be discussed and approved by a representative of the people, the least to say. it is not the perfect system. but is definitely not compared to their childhood game!
this might sound pessimistic but there won't be such this called peer-peer as there will be always a dominant hands to control things and the worse to happen when these hands are not elected, not regulated, not controlled evil people play with others life while relaxing in their fancy Yachts. Take an advice from someone who wished there is such a thing. but, i am confidently saying, there is definitely NOT.
this is not an advice to investor or developer. this is an advice for you, people and normal users. AVOID. AVOID. AVOID this GAME. if you think you can gain, you are wrong. I swear To GOD i have no benefit whatsoever by saying all that other than trying to help as much as i can from being hurt as it happen to me.
Best wishes to you ALL. please share with others for benefit.
