With Bitcoin going down so much, I was thinking of purchasing a little when it bottoms out. I was then wondering if maybe the white hats are going to be doing away with it… in which case I wouldn’t want to buy. What are your guys’ thoughts on it?
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Bitcoin, like all the other crypto currencies, is a ponzi scheme (it appears that MOST small investors are buying in hoping for the "bigger fools" to push the price up -- and when that stops happening, the price WILL drop and BC will possibly vanish) and a roulette wheel.
You can create virtual copies of real-world things, but they aren't the same and do not have the same properties. Virtual water doesn't get you wet; a virtual dog can't cuddle with you on the couch or chase after a tennis ball you've thrown, and virtual wealth can evaporate as quickly as that term paper or office spreadsheet that disappeared from your computer a few years ago.
Bitcoin circa 2010 was a great way to get in early on what turned out to be a massive bubble. Right now, trading the ups and downs of Bitcoin will make some people money and lose money for others, much like the stock market.
I'd be very cautious about assuming any crypto currency is a good store of value for the long term.
Caveat: A whole lot of people, including right here on GA, believe that Bitcoin will survive and thrive, and maybe they'll be proven right. For certain, one common point made by Bitcoin boosters is accurate: fiat currency is trash -- fiat currencies ALWAYS fail and the fiat dollar is heading into the toilet.
Soo... You are buying the dip?
😂