Bitcoin is growing in popularity as it is considered a lucrative investment. Its value is constantly increasing, even beyond gold. But, there are simple things that most people do not know about "Bitcoin Casino.
"Yes, Bitcoin is nothing but magic. Gambling Casino! Here are 10 facts
- Bitcoin is not a company.
Bitcoin Organizer Does not have an entity as a company. You can not sue "Bitcoin, Inc." If anything happens, and you are harmed by it, there's no Bitcoin, Inc. to contact, let alone sued.
- Bitcoin has no profit, no income, no profit.
The stock prices of companies like Apple and Amazon, though inflated, have at least some ground in reality: These companies make products, have their headquarters, have real assets, get real profits, etc. Bitcoin does not have those things: no income, no hard assets, no income reports, nothing. In fact, Bitcoin has dozens of competitors (other crypto currencies), and some of them are technically superior to Bitcoin. There's nothing unique about Bitcoin over other crypto money, in other words, nothing will give it a long-term monopoly for crypto currency.
- Bitcoin trade is not regulated by anyone
Although some futile attempts have been made to criminalize Bitcoin in certain jurisdictions, crypto currency is not subject to significant regulations. This is good and bad. On the bright side, the government can not mess it up. On the bad side, unscrupulous promoters can not be stopped because almost no rules govern their claims.
- If the Internet goes down, Bitcoin disappears instantly
In Bitcoin vs argument. Gold, remember that gold still exists when electricity and internet networks plummet, even until a global nuclear war takes place. Bitcoin, unfortunately, disappears instantly if the internet plummets. Therefore, the whole reason is very clear, behind the assertion that Bitcoin is not a legitimate "storage of values".
- Very few traders accept Bitcoin as a means of payment
Over 99.9% of all traders DO NOT accept Bitcoin as a means of payment. This is primarily due to the extreme volatility of Bitcoin price fluctuations, which can reach a 50% drop in just 24 hours. Approximately 100,000 traders accept Bitcoin at the moment, and that number may increase, but traders do not want to risk the volatility that accompanies Bitcoin, so until Bitcoin matures and settles into a more reliable valuation pattern, traders are likely to avoid for obvious reasons.
- Bitcoin transactions are not "free" - they currently charge US $ 23.66 per transaction
Remember when Bitcoin was promoted as a way to send money anywhere in the world almost instantly, it says almost no cost whatsoever? Right now these average Bitcoin transaction fees are worth over US $ 23, and many confirmations spend days to complete. This will only worsen as transaction volume increases.
- Since Bitcoin is not regulated by the SEC, Bitcoin promoters can claim forecasts for future value
Have you noticed the Bitcoin promoter who now claims that Bitcoin could rise to millions of dollars per Bitcoin? If they promote the company's stock in that way, they will be jailed for "securities fraud." But since Bitcoin is not subject to SEC rules (good and bad, depending on the context), Bitcoin promoters can file any claim they want. Without subject to any rules at all. Many of these claims are indeed the origin of sounds.
- You can not sue anyone if you lose money in Bitcoin
When Bitcoin gets stuck and you realize you've lied about a $ 1 million valuation proposed by a dishonest promoter Bitcoin, you can not sue anyone because there's no Bitcoin, Inc. The entire Bitcoin system is not managed effectively. There is not even a jurisdiction where Bitcoin can be prosecuted, because it exists as a computing hologram in a global virtual network.
- Almost all Bitcoin promoters have a conflict of interest in attracting more Bitcoin buyers
Almost everyone who is fanatically promoting Bitcoin has a conflict of interest: they also have Bitcoin. And they realize their Bitcoin value will only increase if they find more people to buy Bitcoin. Thus, Bitcoin's promotion is largely rooted in self-interest rather than rational analysis. That is why some unscrupulous sales tactics that can now be witnessed will make used car salespeople feel embarrassed.
- Bitcoin is not a "very liquid" market compared to the stock market.
Most new Bitcoin buyers never sell Bitcoin. They just buy it. So they assume that Bitcoin is easy to sell, like selling stocks to the stock market. But Bitcoin is not a stock market at all, and selling Bitcoin can be very difficult compared to buying Bitcoin, especially in the fall of the market. Frantically, Bitcoin sellers will get stuck in Bitcoin, practically unable to sell anything in a timely fashion, even when that value drops dramatically which can happen at any time.
With these 10 facts, it is clear that Bitcoin is just a Ponzi Scheme, but in a very "brutal" way of inflating its value.
Source: https://zaimsaidi.com/10-fakta-dan-bukti-bitcoin-hanyalah-sihir-belaka/