What is Bitcoin?
Let’s talk about cryptocurrency.
Bitcoin or any other cryptocurrency is a digital currency. You can hold it. Nor can you invest it further. To see it grow.
For many years BTC, money level is balanced. But as soon people start to buy it more and more. It begins to BOOM.
Remember, BTC is computer code. You are not buying the Blockchain technology behind it. You’re buying a computer code.
So, you don’t like to invest in a computer code worth 5,900,956PKR without having control over it and backed up by the government.
Its Bitcoin Picture.
BTC is a CRAZY PCS of digital gold.
Bitcoin is a complete thrill. One gets happy and forces another one to buy, and one believes. Forces another one to buy. It’s not making anything itself high. Warren Buffet says, “Bitcoin is an asset that creates nothing.”
“As he said, Bitcoin is just clever computing. And worthless artificial wealth.”
Suppose people want to take profits from their bitcoin investments. They had to sell some bitcoins. Remember selling bitcoins causes the price to fall. VERY IMPORTANT POINT.
So it means it not a store of value. Always remember, a sense of value stores prices whether it is bought or sold or even kept.
So if people start to sell their bitcoins to have real money. As they did in March 2020. The price collapses.
People tell you. Bitcoin is the next big thing.
And, it will be going to the next billion-dollar. Right?
You know what. It can go to the next billion dollars.
When you talk about fancy and fairy tales, it can go to a trillion or more dollars.
There is no underline earning for bitcoins. There are no underline assets. You can’t control the outcome of how bitcoin works.
You’re buying something in the hope that it will go up.
One thing is essential in the financial statement.
Suppose you want to improve your financial statement. You have to live under it.
You want to buy a house. Right.
House can be expensive. But you can look at the right house. In the right street. in the correct location. Right!
There are so many different things you can look into if you buy them.
Can you look for these options in bitcoin? NO! With bitcoin. It’s gambling. Here is no one who knows the worth of it.
I wouldn’t put a dollar in bitcoin.
One more reason. Why should we not invest in cryptocurrency?
“People like to buy such things that cost more.” People don’t think about it when investing. Their example looks like a hungry dog story.
Would you invest in something? Don’t you have control over that?
LET ME GIVE YOU An EXAMPLE.
Would you drive a car that? Has no brakes. No, you wouldn’t.
Bitcoin is like a car with no brakes. Either you reach a place or burn in that car by crashing into a tree or another vehicle.
It is a computer code. Here is no one security guard to protect this Digital currency. So there is the max amount of chances to get hacked.
Even it’s not backed up by any government.
So, would you like to invest in BTC?
P.S Bitcoin is a “store of value”. Brilliant means they don’t even have to pretend it has real VALUE.