A stable and internationally recognised unit of value and exchange or a vehicle for wild speculation? Discover the world of Bitcoin and cryptocurrencies.
A professional speculator once told me, “It’s really not gambling unless you risk losing your house or selling your organs in Shenzhen.” I hate to spoil an exquisite financial bubble, but it’s growing ever more evident that the cryptocurrency and Bitcoin craze is shaping up to be an epic, legendary Ponzi scheme.
Psychologically and financially, you’re either inside a bubble plotting when to cash out or outside guessing when to jump in. Bubbles usually make fools out of those who sell out too early or too late – which is almost everyone. Cryptocurrencies represent a perfectly intersecting storm of desperation, greed and overwrought imaginations, all enabled by sexy trading platforms and mobile technology.
Each successive jump in Bitcoin price cruelly tempts punters like a…