Bitcoin is a huge bubble and here's why you should still buy

I realize, that many people are convinced, that bitcoin is not a bubble. After all, it's the year 2017, it's the future, it's the new way of payment. The old bankers are just angry, that people are moving away from their old systems on their old Wall Street. Everybody who doubts bitcoin is clearly mad, just angry, because he missed out. He, who criticises bitcoin has simply no understanding of how it really works and must educate himself!

I'm sure that sounds pretty familiar to you. If you are invested in bitcoin, you might have made such remarks yourself. Well, the truth is, bitcoin is a massive bubble waiting to burst.  A ponzi scheme, where the people who got in last will take a huge loss, while the people who got in first will take a huge win.

Since bitcoin has currently no real use, the only factor that drives the insane price increase is speculation. As a currency, bitcoin is completely useless. The astronomical volatility means, that when you go to buy your bread for example, you leave the house with the right amount of bitcoins, but when you arrive you can't afford the bread anymore. After you come home in disappointment, the bitcoins you had on you can now buy you 10 loafs of bread! This is obviously just a silly example, but it should illustrate the point. Additionally, you have the high transaction fees, transaction times and so on. Basically it's not a good currency.

However, when it comes to speculation it's perfect. People hold on to their bitcoins and no one wants to sell it at the current price, because of the prospect that it will increase. However, the hype creates a high demand, skyrocketing the prices. Very high demand, very low supply. And since no one knows what a bitcoin is actually worth, there is seemingly no end. So why should it burst then? Well, once the hype dies down and the price stagnates, people will start to sell it off. Once people realize, that bitcoin is useless, except for buying drugs, more and more people will cash in on their speculation. The fall of the price will then cause even more people to sell and so on - the bursting of a financial bubble.

Now why would you still invest in such a thing? 

The actual price for bitcoin is unknown, so it will keep going up with the hype. If you get in now, you can still profit massively. And if you don't want to loose all your money, when the bubble bursts, you have to keep an eye on the media and the hype. Once regular people (normies) will start buying into it you know the risk is reaching extreme levels. Once the hype slows down, the bubble bursts. So watch out for those two things and you can still get a bunch of free money.

I wish you good luck and successful "investing"!