Hi, I am a noob to all this bitcoin stuffs. It sounds like an interesting idea but before I invest too much into it I have
some questions and concerns. Perhaps highest on my list of concerns is the possibility that someone will buy up all,
or most, of all the bitcoins that exist.
Will it be just like the existing economic system where the rich get richer on the backs of the poor?
Will that not destroy the whole bitcoin project and make whatever bitcoins I happen to get myself worthless?
I have read a few things on this kinda stuff and some of it sounds pretty scary. I don't know how much of it
is FUD or how feasible any of it is at all at all.
Please help me understand and ease my mind in regard to this issue.
Thank you
First of all, you should understand that investing in Bitcoin has a high risk. Also, it has a high return. It is a bubble or not depends on the community who buy and hold the bitcoin. when they decided to sell all that they have. Then the prices will go down dramatically. Even maybe bitcoin will have no prices. On the other hand, when people decided to hold and buy all of bitcoin, it means that the prices will go up and we don't need cash anymore to do transactions.