Is Bitcoin Safe?
Bitcoin could be soaring recently , however there are many reasons to steer away from the digital currency
If you’re curious whether or not bitcoin may be a safe investment, the short answer is no. That’s not essentially a knock on bitcoin: All investments bring some risk of losing cash.
Still, investing in bitcoin carries some distinctive risks that potential consumers ought to note.
Question 1: so how safe is bitcoin?
First, no investment is “safe.” Corporations will fail, interest rates will change, credit ratings will tank, laws will shift and demand will drop off all before the sun sets these days. Second, the value of bitcoin is extraordinarily volatile. Volatility begets risk, and “risky” is that the opposite of “safe.”
Question 2: If it’s risky, why is bitcoin rising in value so quickly?
Because supply is capped at a precise range, Bitcoin is unusable as currency once the cash supply tightens. Right now that means as demand will increase, thus will the value.
Question 3: What’s an honest alternative investment to bitcoin?
There’s no higher education than shopping for an actual stock and following its flight.
Question 4: In 20 years folks will hear ‘Bitcoin’ and say …Bit-what?
I truly tend to think cryptocurrency is here to remain. However it’s likely to be regulated, and it’s most likely not progressing to be bitcoin.
If I were to give trend advice on Bitcoin, I would say it's currently a good investment at around $14k USD. That said, anything is worth what someone is willing to pay for it and you can get a piece of the action for as little as $0.02 (Granted it's only one hundred Satoshi) so there is some appeal to the possibility of making Bitcoin Millions.
The greater implications of the meteoric rise of Bitcoin is the possibilities for so called "Alt-Coins" or assets with similar characteristics. At first the flood of "shitcoins" will saturate the market and many will fail, but as coin issuers create more value for their coin (eg SBD and Steemit) the prices will reflect a scarcity/value ratio.
Personally, I see cryptocurrency as an asset based accessible mechanism that is more friendly to the everyday person than the professional investor. If you follow a good investment strategy, diversify, and do your due diligence it has the same opportunity as any stock investment.
Very well said. Im sticking to litecoin for now. I think Crypto is here to stay just a matter of which ones will stick around in the long run. I think the 3 Majors are : Bitcoin, Eth, Litecoin.
I'm going with BTC, SBD, Steem, ADA, and XMR currently ... but I take advantage of any airdrop I can find (just in case)