Member-only story
Crypto
Bitcoin Is Not Blockchain, it’s Blockbuster
Bitcoin isn’t Netflix
The Bitcoin enthusiasts are still preaching to the ignorant. I just read another new “investor” here on Medium who is joining up because a Big Medium Name said they should.
What do they think you are “investing” in?
Bitcoin is just Dutch Tulip Bulbs. Or, perhaps more accurately, Blockbuster.
When you are speculating, you are guessing. Guesses have the best chance of success when they are backed by knowledge. The factors that will drive the value of Bitcoin, Ethereum, Dogecoin and every other crypto are myriad, intertwined, and difficult to predict. It was relatively easy to see that Blockbuster was making mistakes; much harder to see that Apple would succeed.
Where is the value?
It’s not like buying stock in a company. It’s not like buying bonds, gold, silver, rare coins, art, real estate, or even soy futures. Bitcoin is pure fiction, supported only by masses of hopeful people who don’t realize what they are doing.
