This one article is start & end to all your answers about investment in Bitcoin..
First line: if your influence can’t change it, that’s not an INVESTMENT.
This line completely sums up what’s Bitcoin.
Barry Silbert, CEO of Digital currency group has said this about Bitcoin; “this is a product with highest risk & highest return.”
If there is a business which fluctuates daily more or close to 30%, that’s an unsafe investment.
The most experienced invester of this planet (Warren Buffet, CEO Berkshire Hathaway) has said this in 2014; “It’s a mirage. The idea that, it has some huge intrinsic value is just a joke”. People aren’t buying into the value og substance, they are buying into the value of hype.
If you know have any idea about world of investment; Berkshire Hathaway is the biggest & seasoned investment company. Charlie Munger(Vice chairman) has said; “Avoid Bitcoin like the plague.” The more it will spread, it will end taking that many people & their hopes with it.
Noone knows why & how Bitcoin grows. If you can’t influence, don’t invest there. It’s a blind game. You don’t know what’s next coming. Bitcoin is working on a mathematical software algorithm which is hardly known to few hundred people.
I still don’t know why investors going crazy over this. There is no reason behind it’s growth or slump. It definitely seems like a virtual scam. & It is actually. It’s not a horse meant for long race. Bitcoin started as a medium of exchange which became a purpose of investment today. But, it’s not an actual investment. It’s an virtual investment. That’s the reason why there is no calculation or predictibility behind it’s growth & slump. Again this factor makes it an blind investment. The worst thing which is hiding in it is; it lacks LONG TERM VALUE PREPOSITION.
Bitcoin is fast , unpredictable & volatile; so risky. Which makes it look like a gamble. The concept is new. Limited track record of growth or slump. Low credibility. & The biggest flaw, no tax benefits (before or after investment). The government is behind it since the beginning, & there is a reason to it. Someday your entire money invested can be coloured illegal & devasted. Because Bitcoin is getting used in Black market & money laundering. Hackers, Tax evadors & Terrorists are using it. All illegal activities are seeing new heights after rise of Bitcoin. You can’t just think about achieving a self goal by stabbing the government & it’s regulations. You will never get sovereign support in it. There is no government or federal backing with it. Making a cash out will be damn difficult if the prices plump. Investment in cash will be a idea of trash. No billionaires are formed from Bitcoin investment. Learn more & earn more.
I will suggest you to invest in Debt fund, equity, gold, share, property, FD, PPF. These are the actual investments. It’s little slow & lazy but effective. Concept is old. The track record is awesome. So higher credibility. You can get tax benefits before or after investment. & In returns too; it’s tax free. It’s regulated & monitored by government. This is beneficial for both actually. Your bank or your government is the third party between your investment & your returns. Which makes it lot safer. Your earnings & investments are backed by government+third party agencies.
Now about my opinion!! Yes i am holding Bitcoin. How much.. ssshhh. Not gonna answer. In my initial days of engineering, I was working on a software testing project. A client from London was unable to pay my dues because he was broke when the project was about to finish. He paid me some money in Bitcoin. & I am talking about year 2011. I am that dumbdick who used it to buy an gumtree enlisted nvidia graphics card from an seller. I still hold a part of those Bitcoins i was paid. & I really don’t care about it’s price going up for down. Studies even suggest that, the price of Bitcoin may go as high as half a million dollars by 2022-2025. But, nothing is guaranteed. I’m 100% confident about blockchain technology & crypto currency. There are some other currencies which will rule, which are more regulated. It’s going to be the beginning of an era of uncertain innovations & findings in coming days. So stay updated, learn & unlearn as much as you need. Thank you for taking your time to reach the end of this article.