Exactly. Right now there's no real trustworthy analysis for btc. It's all very speculative and uncertain
I still think the cryptocurrencies are something with future and of value, but as an investment right now they are just too risky.
Thank you for sharing this! I honestly didn't know that much about Bitcoin, either, but I can say that even though there aren't any regulations and that its value seems to be decided by some kind of God will, I won hundreds of dollars over a few months because I was patient enough to invest the satoshis I had for a bigger profit. It turned out to be fruitful, but I will never involve myself with things I have very little information about.
I've lost all faith in cryptocurrency. The market is saturated and really, I just do not want anything to do with it. Not many places take Bitcoin, so you can't really spend it anywhere.
If I were to sum up my entire thoughts on this, this would be it. Thank you for helping make ignorance disappear.
I think that's the exact reason cryptocurrencies can't be relied upon. There was apparently a movement behind Dogecoin (or at least the appearance of one, which I noticed on Reddit) and it did have some traction for a bit with a bit of an advertising campaign, but it seems to have flopped. Maybe it's temporary and it might come back and be the next Bitcoin, but I'm skeptical of their resilience and weary of hearing about it.
I have heard Warren Buffett and a couple of other big time investors telling people that they really should be careful with their money and thinking about getting into bitcoin. Like most people have said in this thread I really think that it is something that is really risky to get involved with and it is something that I am keeping away from. My thought is this if you have money that you think that you will be willing to lose then this is something that you should try out. Other than that the advice that I would give is to keep really far away from it.
The basis of cryptocurrency was that it was anonymous. A lot of its value was based on sites like silkroad and similar sites which where selling illegal items. All of those sites have been shutdown by the FBI and they guys who where running them are being criminally charged. Unless there is a way to run a totally anonymous website, the value of cryptocurrency is dubious. Personally I think it is a flash in the pan.
