Why I Won't Invest in Bitcoin

**KK20** · 15-12-2017, 11:09

It is a concept that will bring some useful applications to the honest but will flush out a vast amount of the under the radar economy and allow it to filter into the mainstream.
I wish I can just not hear every person at every turn talk about how they going to make a fortune out of it. Only a few will benefit. ( is this another Madoff ?)

**GAZZAMCK** · 15-12-2017, 11:14

the amount of shady businessmen who have now become "forex" and bitcoin advisors is what scares me

**KK20** · 15-12-2017, 11:15

^ nailed it . I see the same .

**DstUrges** · 15-12-2017, 11:21

I did see something recently about an x app of some kind that allows one to spend crypto's as one would cash
As in buy from pick n pay.

**KK20** · 15-12-2017, 11:23

Originally Posted by DstUrges

I did see something recently about an x app of some kind that allows one to spend crypto's as one would cash
As in buy from pick n pay.

All these transactions are crumbs compared to what is really going on.

**bronxlive** · 15-12-2017, 11:24

Originally Posted by DstUrges

I did see something recently about an x app of some kind that allows one to spend crypto's as one would cashAs in buy from pick n pay.

Well you do get some accounts that offer a visa card that can be used as a debit card all over the world.

**neilw** · 15-12-2017, 11:32

I am very skeptical of the whole Bitcoin exchange but my work colleague swears that it is the way of the future.

I thought the checks and balances of the Bitcoin exchange was the Block-chain system that prevents money laundering and criminality? Can someone with insight comment on this?

**Gunservant** · 15-12-2017, 11:39

Originally Posted by neilw

I am very skeptical of the whole Bitcoin exchange but my work colleague swears that it is the way of the future.

I thought the checks and balances of the Bitcoin exchange was the Block-chain system that prevents money laundering and criminality? Can someone with insight comment on this?

There is nothing in the blockchain that prevents those activities. The blockchain merely prevents double-spending.

**FNBROWNING** · 15-12-2017, 12:05

Bar one or two almost no entities actually accept bitcoin as payment rendering the currency argument null and void.At some stage you have to cash in your chips to make payments and that can only be through the formal system.The argument that bitcoin cannot be tracked does not wash, the likely reality is that government entities long ago cracked it.They have been remarkably quiet in this regard.The greater likelihood is that the price has been propelled due to it being just one really big ponzi scheme.Heck every second person I meet is thinking about it. The same types that have mostly never even directly invested in shares other than through their policies.