I have noticed (for the last 3 years here) that many 'traditional' traders say the same things over and over again. They are correct in short window timeframes but they miss the point entirely long term.
Bitcoin is not a traditional asset - when it was 0.0001$ last time? Sorry, I forget!
Here's a reply..... is this the one I missed?
I agree Bitcoin does not perform like any traditional asset and in the long-term it'll either be worth a lot of money or nothing at all, in fact I think it's a pretty binary outcome.
However my issue with this particular 'bank' is that irrespective of the likelihood of it going up through time history has proven that it has that capability of massively falling in value in short periods and it will likely do so again at some points, since it is not 'backed' by anything (metals, governments, taxes, countries or soldiers being the common methods).
I merely wish to discuss what happens to the 'bank' with all it's pegged deposits at that point and the answer is that it quickly becomes insolvent (unless some undeclared potential blackbox trading saves it etc)..........
I agree with what you say, it is the short term steep price drop gamble that makes this investment risky (probably no one will accuse NEOBEE if BTC goes to zero).
But because it will be short term the agenda of NeoBee convinced me that the risk will be tolerated/handled properly.