Well it has been awhile since my last post, my apologies. I don’t have any excuse aside from putting priorities elsewhere with the holiday season approaching. But on the good side I do have some material and thoughts for some posts going forward.
Lately Bitcoin is all the craze you hear about it in the news daily, friends, family and co-workers seem to be asking my opinion on it some fuelled by the sky rocketing increase in price others just hearing more about and wondering should they invest too?
So tonight’s post will be about just that my thoughts on Bitcoin as an investment. And for me the answer is run the other direction!!!!!! Why you might ask? And for me the main principle is this, what honestly does Bitcoin have as an asset? I understand the purpose to be used as payment for services or goods.
Some will argue the reduced fees versus bank transactions, but keep in mind this comes at a price as well in that it’s also not insured in the event of theft etc. But what really gets me is this, if someone pulls the plug tomorrow what assets does it have? It’s not like it holds any real estate that can be sold off. It doesn’t produce any raw materials or commodity from a process, there is also no equipment involved with which it owns itself.
Nope more it is based on someone’s idea of creating a decentralized, non controlled cryptocurrency that no doubt has gained value and become a hot potato. The question lies though in the end if you were to strip it apart and sell off the pieces as what happens with some companies would you get enough to even buy a potato?
Without a doubt there has been those that have retired or made an obscene amount of money off of it, but I am more saying to people wondering about getting in at this point, it’s just not worth the risk to me I can’t find one piece of intrinsic value to float this boat.
Thoughts anyone?
Happy to be back posting again may you all have a good night
