Should I invest in cryptocurrency?

NellyBell

Registered Member
#1
It looks like cryptocurrency is all the rage right now, especially with how much Bitcoin is surging. I've always been wary of cryptocurrencies because there's just something about them that seems...sketchy to me (for lack of a better word). I guess I always just assumed it was "trendy" and it'd pass. I'm wondering if I've been wrong about being so pessimistic about them. But I'm also wondering if the current trends mean they might be peaking soon. Do you think they're worth investing in?
 

Mirage

Administrator
Staff member
V.I.P.
#2
Here’s the thing. Bitcoin is always one news report away from people jumping ship. From what I heard, a bitcoin digital bank site got hacked not long ago. That “money” is gone now. Just the same as if somebody stole your wallet.

If people start wanting to get out of bitcoin in droves, it’s not like the stock market where there is always some value. If people no longer want to use bitcoin, nobody will be buying it, which puts its value at precisely $0 in that situation. Far too risky for me.
 

NellyBell

Registered Member
#3
Thank you so much for explaining this to me in an understandable, simplistic way. These types of conversations easily get way over my head so I appreciate that a lot. You're absolutely right, too. When you put it that way, it's far too risky.
 

Mirage

Administrator
Staff member
V.I.P.
#4
Well don’t take my word for it. Even though I said it’s far too risky for me, I still may throw a few hundred bucks into Bitcoin. By even then, if it explodes and goes even bigger, a few hundred isn’t going to grow like owning an entire bitcoin would. 🤔
 
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