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[–]Flicksener 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

I'm hopeful. I don't have too much invested in it, but I think the idea is still sound and, unless it gets screwed over by other major superpowers, it has a chance yet.

[–]Canbot 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

What you fail to understand is that it is not governments that can and will screw it, but more powerful entities known as hedge funds. The stock market gets manipulated all the time. There are trillions of dollars that have been won through manipulation. It is an art form practiced by the most intelligent people on the planet, using the most sophisticated AI on the most powerful computers that only they can afford to run. Over the hundred years that they have been playing this game they have amassed knowledge, wisdom, tricks and strategies that you can't comprehend. Over time the stock market has somewhat adapted to limit the most blatant manipulation in order to save the credibility of the stock market so that people continue flooding it with all of their spare earnings. It is a hundred years of evolution.

Bitcoin is trying to grow in that environment with zero immunity to any of that manipulation. No oversight. No regulations. No protections. Every tactic know to these people can and will be used.

Of course you think it is relatively safe. Because they know exactly how much they can screw you before you realize you are being screwed. They know exactly how to string you along. But at the end of the day it is a Ponzi scheme. All the money you think you are making in speculating is entirely coming out of the pocket of the next idiot to buy in. It requires perpetually more idiots to keep buying in. It is not a matter of if it will collapse, but when.

[–]Flicksener 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

I should clarify, I am concerned, because I agree with you, there's no way major governments are going to allow this thing to grow unchecked without manipulating or dipping their toes in its waters, if they haven't already. But I'm also hopeful because it looks promising and has already been adopted by a number of countries (or maybe just one?) and major companies, with more to follow.

I should further clarify that I don't have a whole lot invested in it, and have made only about $100 or so from it so far, so even if it does collapse, I won't be losing that much. I invest a very, very small percentage of my portfolio in it every month or so, or whenever there's a great than 10% drop. That way, if things start to turn, I won't lose my shirt.