Sorry to Be a Wet Blanket, But…Six Reasons to Be Very Leery of Bitcoin

Do you want to make more money? Sure, we all do! And since the means of eking out even a subsistence living are increasingly being doled out to refugees, repatriates, and robots, why not ditch that lemonade stand and hop on board the Bitcoin rocket, like all the hepcat investment gurus are doing? From a price of under $2000 at the start of 2017, this greatest thing since tulips or pet rocks has unprecedentedly increased tenfold, standing at nearly $20,000 in the middle of December. Sure, as of Dec. 21st it began a seemingly precipitate $5,000 slide, prompting Peter Schiff to advise jumping off the train, as Bitcoin’s value as an alternate means of exchange is compromised by its being ‘too slow, too expensive, and too vulnerable’. Who you gonna listen to: the guy who accurately predicted the subprime meltdown, or crypto-currency bug Marcus Pittman, who assuaged his followers’ fears with the Warren Buffett-like adage ‘Free markets are volatile’? And you don’t think he’d heedlessly risk Apologia’s Mountain Dew-pizza-and-Oreos slush fund, do you? Perish the thought!

In all seriousness, I too was intrigued by Bitcoin’s possibilities when it first began making a serious mark five years ago. …

Read more at the Faith and Heritage blog
(The opinions in this article are the opinions of the author and do not necessarily represent the views of Southern Nation News or SN.O.)

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