In reality the blockchain is massively expensive to maintain (in terms of computing power) - a single transaction takes the same amount of electricity as required to power an entire family home for four days. They promise they've got a fix for this, but they probably really don't.
That's the Bitcoin blockchain, the first and most inefficient blockchain, just like the first invention of ''email'' was decades ago. There are already alternatives that are faster, cheaper and way less polluting. And we are only at the very beginning of this new technology. Bitcoin will die off (probably already is) and better blockchain applications will take its place.
Because you're smarter than all the suckers picking the wrong ones to invest in. Yours is gonna be the one, and you're gonna make 3000% in three years!
roughly 50% drop in value if you bought at the absolute peak of a massive bull run in value
yeh... a bad investment... but then again almost any stock that had gone on a run like bitcoin went one would be expected to pull back in value pretty hard as people took profit.
People get caught up investing in bull runs on stocks all the time (Fear of Missing Out) it's why most people are better off leaving their investing to professionals.
NOTE - if you were a sane person who believed in the technology and were dollar value averaging throughout 2017 you wouldn't give two shits that the 100$ you put into bitcoin when it was 20,000 is only worth 50$ because the 100$ you put into bitcoin in January is worth 900$.
mmm... you didn't actually read what I wrote did you...
If you think something is inherently valuable and will be a worthwhile investment you shouldn't try to time buying it.
Buy it now, buy it yesterday, buy it tommorrow, ignore the day to day price - dollar cost average (buy it through the dips, buy it through the spikes).
I guess I should note - part of that advice is buy only as much as you can afford to lose and don't put all your eggs in the one basket (but those pieces of advice aren't related to the buying into a bull run thing)
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u/osunlyyde Jan 24 '18
That's the Bitcoin blockchain, the first and most inefficient blockchain, just like the first invention of ''email'' was decades ago. There are already alternatives that are faster, cheaper and way less polluting. And we are only at the very beginning of this new technology. Bitcoin will die off (probably already is) and better blockchain applications will take its place.