Bitcoin : To avoid getting burnt, just hold.
About a year, or year-and-a-half ago, Bitcoin saw an influx of new investors. Did most of them understand what Bitcoin actually is, or the basics of how it works, or the problems it solves? Apparently not. Did most of the new investors have any kind of appreciation or understanding of the serious problems facing the existing “global fiat money” banking system? Apparently not.
Most of them seemed to see Bitcoin as an easy “shortcut” by which to accumulate more fiat money: “buy some BTC, wait a few days/weeks, sell, buy a sports car and have lots of fiat money.” Bitcoin, for them, became an epitome of the “greater fool theory.” That is, ***for them, in their minds,*** Bitcoin was/is some kind of get-rich-quick scam. Most of them got burnt – and rightly so — they were somebody else’s “greater fools”.
So, IS Bitcoin a scam? No. It’s just that every so often we seem to get a new wave of people who treat it as such, and get burnt.**To avoid getting burnt, just hold.** Don’t invest money you can’t hold in Bitcoin for a long time and you’ll be fine in the long run.
Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority.
FindCrypto scans the web for the latest Bitcoin news, so you can find all the latest and breaking news in one convenient location.Author: DelfinGuy
Don’t forget to share the post if you love it !