Post
Topic
Board Bitcoin Discussion
Re: Cons of Bitcoin - why I dislike it.
by
CerealKing
on 21/08/2017, 05:54:45 UTC
I guess you have to understand that Bitcoin is not actually aiming for all people of this planet to be using it. Bitcoin is here for everybody but not everybody can be for Bitcoin. We have to accept that fact because we are still a free marketplace. And even if you would not want anything to do with Bitcoin, I am sure you are not a big loss with the King of cryptocurrencies because Bitcoin can go on without you.

Bitcoin is never perfect and will never be because it is just also man-made but compared to other innovation this can be far-reaching in scope and application. By the way, maybe 5 years from now, I hope you can be able to go back to this post of yours and make some serious evaluation of your orientation and decision. We all have to make some choices and it is okay...it is all right...if you have already decided not to go with Bitcoin anymore.

My only point of posting is not whether it can go on without me, is that it should not go on with or without me. It's not real money. As I quoted earlier about what Warren Buffett said - "Stay away from it. It's a mirage, basically...The idea that it has some huge intrinsic value is a joke in my view."
 
I only posted to show all the flaws it has in reality and that it should cease to exist, or at least go back to realistic levels ( under $100 per coin ) right now the bubble is beyond ridiculous and all these crazy people every few days saying it'll be $10,000 by this date and that date. They're only saying that because they own lots of Bitcoins, like that 18 year old bitcoin millionaire that owns 403. Sure he'll say it because he owns it. He cares about his own net worth. I know people that invest in west Dayton and put $5,000 in their house that they bought for $5,000 and claim they could easily sell it for $80,000 now that they did work. They got a "steal" no... you bought in west Dayton, you wasted $5,000 rehabbing it. You're lucky to get more than $7,500 even in this economy. People always like to dream what they invested in is great even if the reality is that it isn't great. "he psychology of bubbles fuels it. You just become more convinced that it's going to work. And the higher the price goes, the more convinced you become that you're right. But it's not going up because it's going to work. It's going up because of speculation." In other words, bitcoin’s upward momentum ­– even the price more than doubling within 90 days ­– may be a kind of self-fulfilling pipe dream."

That basically says it all.