and here are some reasons why NO ONE SHOULD USE IT
i'ts stupid to say the least
it's worth less than currency, pip for pip
it took around 5 years for bitcoin to get to around $19,000
then it took around 2 weeks or less FOR THAT TO FALL TO HALF IT'S VALUE.
if this doesn't scream to someone... STAY THE HELL AWAY, i don't know what will
how about the fact that you will never get your money back once you deposit it.
i mean.. dribs and drabs here and there... sure
but big transfers.... that won't happen
all i'm hearing is a lot of people tried to withdraw their bitcoins from their platform, only to now be in a situation where they cannot contact their broker or reseller any longer, these people are now filing law suits.
but, you may argue, THAT'S THE BROKER OR RESELLER
but what about the platform itself ?
it's a pump and dump
this is doomed to fail.. it's inevitable
- from a RISK point of view. it makes no sense
you could invest in EUR USD and have less risk, just to name 1
you could invest in XAU USD and have less risk to name another, i can go on and on about this if you like.
Risk point of view... it's not worth it
now let's talk about cool stuff. like Bitcoin Pizza and KFC
buying stuff with bitcoin
but let's put this in AUD TERMS
in Sydney a Pizza is $5 from Pizza hut (pickup)
and a Pizza can go up to $15- $20
so.. let's say you walk in to a good pizza place and they say, WE ACCEPT BITCOIN
first.. IT'S ILLEGAL
it is illegal to use another currency other than a countries local currency
when you go to Luna Park and you use LunaPark dollars, YOU MUST EXCHANGE AUD for Luna Park dollars on arrival
you do some rides
before leaving Luna Park, you change their currency for AUD again
you can't use Luna Park dollars outside of Luna Park
You can't use BITCOIN in australia
you can't buy fuel with it
you can't buy groceries with it
you can't pay bills with it
WANNA KNOW WHY...
Because IT'S TAX EVASION
Not to mention that the petrol station that sells you fuel for bitcoin will be shutdown in a heartbeat by the authorities
now.. in those rare places that offer food for bitcoin like pizza's
well. if the pizza is $20 you can expect to pay the AUD equivalent of around $30 - $40 for a pizza
so... if you called me and said
martin, buy me a pizza and i'll give you $40
OF COURSE I WOULD
and i'd pocket the $20
companies that offer food for bitcoin are merely BROKERS
and people who use these platforms are stupid idiots that don't realize they are paying more for getting their jollies over using bitcoin
so they can say to their friends "I PAID WITH IT FOR BITCOIN"
i mean... do you get a T-Shirt with that when you pay, so that EVERYONE KNOWS hehe
Bitcoin is a stupid idea for people using it
Bitcoin is a smart idea for the people scamming you
that's as simple as it gets
the bitcoin platform is dead (more or less)
BITCOIN CASH is the new scam on the market
it is being marketed as follows
bitcoin has failed..... BITCOIN CASH is the UPGRADED VERSION OF BITCOIN
and somehow.... stupid people still fall for this crap.
prepare to see more stories on babypips that say
"i was scammed by bitcoin, can't withdraw my money....... please help"
let the scamming begin.