Bitcoin is not an investment, it is currency!

I continuously hear people talking about investing in Bitcoin. The news of the day is about the exponential growth in value of Bitcoin, but there is the underlying misconception of Bitcoin as an investment tool. That is not really what the technology was designed for, but it is a property of the currency.

Read the whitepaper!! 

Bitcoin is designed to be an electronic cash system. It is not designed as some scheme to allow for quick returns on investments. The simple reason that the value of Bitcoin is increasing so quickly is that the users of the Bitcoin system value the cryptocurrency and are willing to put money into it. This makes the BTC a valuable  and so the price goes up.

There is no claim anywhere that Bitcoin should be used as an investment tool. Then, is there a claim that your dollars are an investment tool, or gold? A dollar is only a piece of paper, gold is just a hunk of metal. The thing that gives it value is the trust that people place on it and the amount of exchange value given to it by the people who want it.

So, the reason for this post is an article I read written by a fool!

My recommendation, only invest in Bitcoin if you support the technology and would like to see it advance. If you are going to put your hard earned last dollar in a safe place, put it inside your mattress.