First of all, if you are not initiated with the eastern concept of 'Maya' then go watch The Matrix trilogy. Now, after that if you can understand that Bitcoin is just a fad and eventual fraud, then probably you are someone with 'common sense' which is very rare these days.
As couple of decades ago it was cool thing to put 'internet' in your company profile, followed by 'cloud', now the next big thing is 'Blockchain'. Please don't ask what it is here because other venues on internet will help you understand that more clearly. ( BTW AI is also coming to fool many.. but we will deal with that in coming years ). So now onwards you will be bombarded with the word 'Blockchain' everywhere and how cool this thing is and can solve any problem of this world. Now let's go through True/False session to make you disillusioned.
1. Blockchain is the most secure and so anything done with it is unhackable.
- False. ( EVERYTHING is hackable. Period. )
2. Eventually governments will start supporting Bitcoin
- False. ( Well, no government will support bitcoin. Yes, making some moves which looks like that they are making it a currency of mass acceptance ( like creating a regulatory structure etc ) is just to fool you and have an eye on you to catch if anyone is funding illegal activity through that. )
3. Bitcoin will usher new financial system where fiat currency is not needed.
- False. ( Utterly laughable. In the age where people don't even trust their family members, how far your own currency ( which is basically nothing but your own individual credit ) is going to float ? A central clearing mechanism is needed, no matter what. )
Also please understand that both digital currency and Bitcoin are totally different thing. Digitization of fiat currency or digital transactions of fiat currency has nothing to do with Bitcoin.
Then how can you make money through Bitcoin?
In same way you milk the craze. Buy when mania is still spreading and sell it while it is still spreading !
PS : If you are so called 'investing' in Bitcoin then please don't cry when one day your account shows only zero. Yeh, you can 'trade' it if you are good at judging the mass sentiments ( a key ingredient to trade any financial market ), but if you are associating the word 'investing' with it then 'Fool' is already written on your face !
As couple of decades ago it was cool thing to put 'internet' in your company profile, followed by 'cloud', now the next big thing is 'Blockchain'. Please don't ask what it is here because other venues on internet will help you understand that more clearly. ( BTW AI is also coming to fool many.. but we will deal with that in coming years ). So now onwards you will be bombarded with the word 'Blockchain' everywhere and how cool this thing is and can solve any problem of this world. Now let's go through True/False session to make you disillusioned.
1. Blockchain is the most secure and so anything done with it is unhackable.
- False. ( EVERYTHING is hackable. Period. )
2. Eventually governments will start supporting Bitcoin
- False. ( Well, no government will support bitcoin. Yes, making some moves which looks like that they are making it a currency of mass acceptance ( like creating a regulatory structure etc ) is just to fool you and have an eye on you to catch if anyone is funding illegal activity through that. )
3. Bitcoin will usher new financial system where fiat currency is not needed.
- False. ( Utterly laughable. In the age where people don't even trust their family members, how far your own currency ( which is basically nothing but your own individual credit ) is going to float ? A central clearing mechanism is needed, no matter what. )
Also please understand that both digital currency and Bitcoin are totally different thing. Digitization of fiat currency or digital transactions of fiat currency has nothing to do with Bitcoin.
Then how can you make money through Bitcoin?
In same way you milk the craze. Buy when mania is still spreading and sell it while it is still spreading !
PS : If you are so called 'investing' in Bitcoin then please don't cry when one day your account shows only zero. Yeh, you can 'trade' it if you are good at judging the mass sentiments ( a key ingredient to trade any financial market ), but if you are associating the word 'investing' with it then 'Fool' is already written on your face !