Bitcoin (AKA Cancer-Pills) has become an investment bubble, with the complementary forces of human herd behavior, greed, fear of missing out, and a lack of understanding of past financial bubbles amplifying it.”
I needed convincing and reassurance that there is nothing rational about investing in crypto-currency. This is not the grievances of a technophobe. It’s not backwards to think that a history of economic and financial experience shouldn’t be thrown out the window because now we can move money and data with our fingertips using apps on our smartphones. The ideology behind crypto-currency is real.
If you think its going to liberate how money flows in the world, think again. The technology, like block-chain, that makes the flowing of crypto-currency a reality, might actually be useful. But for other things. Only time and labor will tell.
DON’T BE A FOOL.
The reason why is that it’s not an investment; just as gold, tulip bulbs, Beanie Babies, and rare baseball cards are also not investments. THESE ARE ALL THINGS THAT PEOPLE HAVE BOUGHT IN THE PAST, DRIVING THEM TO ABSURD PRICES, NOT BECAUSE THEY DID ANYTHING USEFUL OR PRODUCED MONEY OR HAD SOCIAL VALUE, but solely because people thought they could sell them on to someone else for more money in the future.
INVESTING means buying an asset that actually creates products, services or cash flow, such as a profitable business or a rent-able piece of real estate, for an extended period of time. An investment is something that has intrinsic value – that is, it would be worth owning from a financial perspective, even if you could never sell it.
@askquestion