Hello trader's ,
how are you everyone ?
Buying Bitcoin as an investment is actually, at this point, the opposite of investing in Bitcoin technology.
Unless your business is building a treasury of crypto currency for actual BUSINESS purposes,
then you not only own a valueless token, you must be earning upwards of 20,000% annually in order
to be able to justify it as an "investment". And I guarantee that not one of you is anywhere close to doing that.
Bitcoin has fallen by more than 50% since the beginning of 2018, as investors grow increasingly fearful of intervention by regulators.
Bitcoin is not recognized by any central bank and allows people to bypass banks and traditional payment methods to pay for goods and services.
There are many things wrong with crypto but it is not a Ponzi scheme :) I also think the bit about "undermining public trust in central banks" is a bit rich - the public does not have any trust in central banks. It is a bit like the con man complaining about the bad pr that the pick pocket is giving them :)
Banks are afraid, and that’s a good thing. but I am not sold on the value of bitcoin
“His comments follow a string of warnings on bitcoin from authorities and economists around the world, including India, the US, and South Korea. Facebook has banned bitcoin and other cryptocurrency adverts on its site.
Meanwhile, Lloyds Banking Group has banned customers from using its credit cards to buy bitcoin, amid fears it could be left in debt as the crypto-currency’s value deflates.”
