Rick Jay wrote:
In my experience, it's not investing, it's gambling.
If it's money you wouldn't mind losing on the casino floor, then have at it.
Personally, I think it's seen it's day. It really has no value, and the number of folks who are willingly suckered in to buy yours at a higher price than you paid for it are dwindling. Of course, there are always new shills and suckers, and the pump and dump process continues, but unless you're feeling lucky, don't expect much.
What gets me is on the bitcoin/crypto sites, they always show a gold coin with the bitcoin logo on it. Bitcoin has no relation to physical gold in anyway, yet they keep pushing the narrative that its "digital gold". No, its little pieces of NOTHING. Gold has been valuable for thousands of years and will be forever. Bitcoin will ultimately return to it's true value: zero. Remember, the first reported purchase made with bitcoin was two pizzas, valued at $25 for 10,000 bitcoin....making 1 bitcoin worth about 1/4 cent. It will return to that value before it disappears.
The other thing is not to confuse bitcoin/crypto with blockchain technology. Blockchain technology will most likely survive and be at the heart of whatever digital currencies finally manifest themselves. But the cryptos as we know them now will go away.
If you're not the gambling type, I'd find other places for your money.
~Rick
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