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Old 4th January 2018, 06:31 AM   #1394
Eddie Dane
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Join Date: Aug 2007
Posts: 6,681
Originally Posted by PartSkeptic View Post
Just heard an hour ago of a man who has taken out a mortgage on his house to buy bitcoin. He made a lot of money initially and is now convinced he can make more.

The downturn of the second DCB seems to have started.

The governments should step in. They should tell people how the schemes work, and the risk they are taking. But it is probably too late for many people.
Look, I have no problem with people investing in Bitcoin if they can afford to lose money. (same with all investments really).

Some things concern me:
-People with no idea of markets or tech going in with a minimum of understanding.
-People who are absolute believers in the concept.
-The echo chambers talking about the subject where critical voices are shouted down.
-The narrative that "they" want to stop crypto and will lie about it, causing people to disregard warnings from finance, government.
-The idea that some technology superior to blockchain could spring up and replace it quite easily.

I like the idea of investing in and funding a disruptive technology, but people are way too convinced that 'this is it'.
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