If there’s any evidence required of what a lousy investment Bitcoin is, the fact that its promoters resort to fraud provides it.
Back from Hong Kong and Scotland I found a deluge of letters advising that once again my name was being used to promote this rubbish.
First, Bitcoin is not by any definition an investment. Rather, it’s a speculation based solely on the age‑old bigger fool principle, namely the hope that other mugs will come in and drive up the price.
The major problem with this proposition is that its market comprises dumb buggers and dumbies don’t usually have any money.
DO NOT BUY BITCOIN – IT’S RUBBISH
While its impossible to trace the culprits behind this fraud I’d give long odds on one thing. That is they’re mugs who’ve bought in and are taking a beating.
I’ll say it again.
BITCOIN IS A GARBAGE NON‑INVESTMENT
4 Comments
Sir Bob might be a bit long in the tooth to fully understand the significance of Bitcoin.
I know someone who’s gotten into Bitcoin and some other lesser-known alternative called Zcoin. So far I think they’ve put more into it than what they’ve got in return…
OK just want to start by say originally it wasn’t an investment it was in simple terms you go to work you get money for doing that work mining worked/works on the same principle it was created as another form of currency.
However now that that’s out of the way a garbage non investment OK in the past 10 years it’s gone from less than 1 cent to $10k can you please name anything that has had a growth like that?
Um, another Ponzi scheme? 😂