Quote from: Hyperme.sh on October 14, 2017, 02:18:59 AM

A bad time to invest in Bitcoin
October 8th, 2017

Back in 2013 I urged people to invest in Bitcoin.

Yesterday someone asked my cleaning lady to invest in Bitcoin.

Now if someone had asked her to accept payment in Bitcoin, or send payment in Bitcoin, then this would be compelling evidence that one should invest in Bitcoin.

But when cleaning ladies are asked to invest in Bitcoin, not a good investment.

When Bitcoin began, everyone was a miner, and everyone was a peer, everyone stored the entire blockchain. Which was great, but did not scale. And now people are struggling with half assed ideas about how to get it to scale. Bitcoin can no longer deliver on its original promises, has not figured out what new promises to make, and many of the new promises are unworkable, or are scams, or are likely to turn into scams.

Right, basing investment decisions on personal anecdotes, sounds very intelligent and professional. If you look at the current bull run that last for close to two years now, you'll notice that a lot of growth was happening in a very quick spikes, which means that it was caused by small groups of investors deciding to make big buys - if it was "cleaning ladies" who were behind this rally, the chart would be more smooth. And it's a lie that Bitcoin can't deliver on its promises, it has promised decentralized permissionless payment system and that's exactly what we have for 8 years already - Satoshi didn't say that transactions will be instant and free and that it will process million transactions per second.