Bitcoin is not backed by any physical asset like Gold nor by any fiat currency. It makes me wonder if I should invest/trade in Bitcoin or not?
This issue is as old as hills. I used to think that Bitcoin is just a toy or a Ponzi scheme. But now I am getting crypto and economic education at the university, and I have completely changed my opinion. First of all, I want to ask you if Gold is backed by anything, or why do many people think that it is one of the best investment? What is more, as Bitcoin is adopted by many companies and even whole countries, it become supported by their ecnomics.
True, this has been always been discussed in Cryptocurrency circles. Bitcoin is not taken seriously before in its infancy. But look at what happened to Bitcoin and to the people that supported the cryptocurrency. Many newbies before because convinced in the long run that Bitcoin is the real deal, that it is not a scam. It has been adopted by countries, accepted if not legalized, and even though some issues did occur, it stayed resilient and more and more people are attracted by it.