Quote from: Kakmakr on August 21, 2017, 06:21:17 AM

While you are looking for all the excuses in the world, not to participate in this experiment, we are making huge profits. Yes, I agree Bitcoin is not perfect and if you can find a stick, you could hit it from all sides. We have never seen a technology like this before and the innovation it unlocked is absolutely mind boggling. < Just look at all the Alt coins that spawned from it >

I concentrate on the positive aspects of this technology and I invest in that and the potential it has. We have hardly touched on micro payment and the affect that it will have on poor people. < once the fees goes down even more >

I also make huge profits from real estate and stocks. Albeit Bitcoin has risen a lot more than any of my real estate and stock transactions, but that's because it's in a bubble fueled by dreams of investor's jumping in as mentioned in my last post. The technology isn't as innovative as you think, and it's definitely not going to help poor people. The only thing Bitcoin would help in a scenario where it keeps propelling endlessly, is the people that jump on the bandwagon now ( or when prices were lower ) some poor person that never heard of Bitcoin until 2021 and tries to jump in at say a valuation of $20,000 ( again assuming it keeps propelling out of control ) they are only receiving a portion of bitcoin, this isn't going to change their life. They will spend say, $100 on bitcoin, and if it's widespread at the time, they'll buy $100 in groceries and then they'll be back to where they were in the beginning had they just went to the store and spent $100 USD on groceries. Same outcome. It would have no effect for them other than the fact of the risk. They might buy in at $100 thinking that it'll keep jumping in price like it has done in the past and then it drops to $15,000 overnight because Mark Cuban calls it a bubble again, or there are problems within the bitcoin community, another MtGox? Someone hacks the system? Attacks, etc and now they are left with $75 to buy groceries for their family. Remember this is a poor family, so now they lost $25 that they could've used to buy more food for their family. And Remember with higher prices comes higher volatility, not more stable. BRKA was trading at $247k 3 months ago and today it's $267k and trust me, BRKA is a lot more stable than BTC, yet a $20,000 change is still pretty dramatic.

Sure the scenario is quite silly, but you said poor people, so I used a poor person scenario, I know plenty of poor people that have issues coming up with $25 dollars, no less $100... I see no affect Btc will ever have on poor. It's an investment, not a currency... and an iffy investment at that. If I was Mark Cuban and I said all this, I am sure you'd see prices in the $3,500 or less right now, but I have no say since I'm not a billionaire investor.

I think I have really said all I can say about Bitcoin at this time, I don't see many reasons for me to reply to this thread much anymore. I have said how I feel about it, maybe I am wrong, maybe I'm right. I feel this is a very high risky investment, I wish anyone that invests in it long term luck. I know the average person will not hodl their investment and will cash out. If too many cash out at once too it'll fall. Especially if/when the Winklevoss brothers decide it's time. It's been an investment for a long time and I think that's all people will ever view it as.

I really do hope that people can use my opinions to make wise decisions, I wish no harm on anyone. I wish everyone could become rich and profitable, I wish everyone could have a house, food, and so much money they could buy whatever they wanted. There are going to be losers in bitcoin, and winners. I just hope that my opinions made some people think a bit more about bitcoin as a whole. I never came here to disrespect anyone, but I did come here to educate from the things I've learned over the years. I'm sure many of you know more about Btc than I do, but I also have different a perspective that I think might also be helpful in making decisions in the future before investing in Bitcoin and where it could be heading.

Thank you all for reading and for your responses.