I have been hearing this phrase over and over again.
It makes me curious about how so many people are writing negatively about Bitcoin. How its the worse place to park your money so on and so forth. But just as much as there are the “Bitcoin Haters” there is also a much larger share of those who support Bitcoin I like to call them the “Bitcoin Lovers”
To me its neither here or there.
What I do notice is how people dump all of their cash, their savings and retirement on a hope that maybe Bitcoin may go up in price and they become rich beyond their wildest dreams! This reminds me of something similar I see average people placing their money in and hoping that they hit the Jackpot!
I think its called the “Lotto”?
Folks I understand the need to jump into something everyone seems to be going to, but if you have not heard of it by now that once people start noticing the newest and greatest its already too late to invest. Now if you have invested in the beginning when Bitcoin was new and a “Undiscovered” country then I would say jump in! Getting in the ground floor when actual Bitcoins where worth nothing and held it up until now I would have congratulate you today!
Unfortunately, if you invest now in Bitcoin you will not be investing in actual Bitcoins but in fractions of bitcoins. Small percentages little by little which takes a whole lot of time to sit and wait. The only way I see for us average joes to even get a full Bitcoin is if the whole thing crashed completely. Then, I can see us average joes and janes becoming major players.
Until then if it ever happens you will be the whim of Whales like Elon Musk who is basically dangling a carrot over your head. Who at any moment may get bored of playing and sell!
The loud sucking noise of the Vacuum as it wipes out whatever progress you made.
You can hate on me if you need to but sometimes you have to know the truth. This crypto is extremely unstable and its not for those people who DO NOT HAVE THE FUNDS to make any headway to becoming rich.
Although, the idea of Cryptocurrency is extremely interesting, but like every idea it needs further tweaks to the system. One…