Should You Buy Bitcoin?

Should I Buy

Surprisingly, when the previous blog “Bitcoin, the Needle of the Next Economic Bubble” was published last week, someone from the Facebook page responded asking where can she buy Bitcoin? In good gesture, I gave an ambiguous response. I thought who am I to be a stumbling block to whoever see such a life’s time opportunity.

Recently more and more media advertisement, articles, sponsored ads or news articles are all talking about goodness and wonders of Bitcoin investment.  Slogan such as “making a million everyday”, much more room to grow, best investment opportunity in your life time… etc. There are also chartists projecting upper target of US 8,000. The retrieve previous week was a temporary healthy pull back. It will surge even higher later on… And it is true that Bitcoin price has returned to its previous all-time height at Friday (17th Nov 2017) market closed.

Height
Bitcoin price returned to its historical height

Will it surge up to US 8,000 level? I bet it would! I even believe that it will reach the target of US 10,000 in near few months and even US 20,000 too by next year if it is still there.

But please do not ask me again where you can buy Bitcoin. Just google it up yourself, you will find it out. There are plentiful ways to buy into Bitcoin. Many merchants out there are waiting to get you involved and they also make it easy for you too.  😀

How Can You Resist

You may ask why you are so naive about investing into Bitcoin especially since you believe it will surge even higher. Indeed, it is not easy to answer this question, you know? Any answer to this question would sound very foolish to the general public where everyone is so crazy about it.

I think my foolish answer to this inquiry would be … my purpose of getting involve with investment is to learn the skill of life long investment, not for quick money per se. People are crazy about Bitcoin out of the desire to acquire quick money. Someone describes about Bitcoin nicely when he says, “Bitcoin: Between love and madness lies obsession”

One of the market trading principles says that in order to profit from a trade, you must have an exit point even before you enter a trade. Most people buy Bitcoin earlier would think of long term. However, in the current Bitcoin maniac stage, I do not believe there would be any long term holding value.

Turning into Cash
If they have not sold out their Bitcoin, they are really millionaires

Neither can I see any exit point if I enter a trade with Bitcoin. Those so called millionaires created by investing Bitcoin early stage are not really true millionaires if they have not sold all their Bitcoins. They are just paper millionaires. Are they willing to sell out all their Bitcoins at this stage? Even if they sold out, will they never enter again after seeing it surge even higher up?

Principles in Gambling

Getting involved with Bitcoin will resemble gambling (which is a thrilling activity to most people) rather than investment.

Casino
Buying into Bitcoin is like entering casino

The main question is not whether Bitcoin can make you money, but rather, whether the money earned from Bitcoin can be hold on for long. I do believe Bitcoin will surely make you money just like any money game would do.  They both share common characteristics. I have already laid out those principles about money games and their consequences in my previous blog. (Please read my previous blog on money game). Furthermore, if anyone involves now, it will cultivate eventually a stained motivation and corrupted desire for investment.

The wisdom of all time says, “Money that comes easily disappears quickly, but money that is gathered little by little will grow.” (Proverbs 13:11)  This is why people can never acquire wealth through casino.

It is not your wallet that holds money, but rather it is your character. Character is never built in short time. It is built over a long period of perseverance and endurance.

In short, to answer this question, should you buy Bitcoin? I would not say no, neither yes. It is all up to you to decide, or least I become a stumbling block for your blissful future.

 

 

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2 thoughts on “Should You Buy Bitcoin?

  1. The sentence stated in the news article that said, “There’s a lot of really smart people and a lot of very sophisticated players and institutional people from established industries that are coming into the space to legitimize it. It’s happening now. It’s happening a lot quicker than I think people realize.” Though the writter wrote it positively, but it is this very sentence of fact worries me too… Please read it there .. https://www.marketwatch.com/story/heres-what-everyone-is-getting-wrong-about-the-cryptocurrencies-craze-2017-11-21?dist=markets

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