Hello Steemit world ,
Steemit is my passion and article writing is my love , :)
Today we talk about bitcoin news ,
Bitcoin Is the Global Scam?
I see and hear a lot of talk about Bitcoin and I know some of you who will read this are already invested or are die-hard enthusiasts. People are making crazy money, it’s true, but those who have been following the markets for a long time now have seen this before. It’s a bubble. And bubbles burst.
This is one of the better explanations for why this giant Ponzi has an expiration date. It may well go even higher after I send this out but sooner or later (and my money is on sooner) the bubble will burst.
Digital and cryptocurrencies are here to stay (although here is another prediction for your pocket: the most valuable uses of blockchain technology are still ahead of us, the blockchain ledger is a much greater innovation than Bitcoin itself) and they will form a part of money supply well into the future, but this? This is unsustainable. It is also historical and will do what these things always do.
You have been warned.
Bitcoin's price is not a reflection of its growing usage as currency; it reflects merely demand for the mirage of its speculative value.
Its price is rising only because people all over the world are hearing stories of how others doubled or tripled their money in a short period -- and they don't want to miss out.
Unsophisticated investors are taking out loans to buy bitcoins.
Those who have spent the currency feel remorseful when they see its price subsequently increase, so they hoard it.
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