Bitcoin in case you haven’t already heard is now worth twice as much as gold, or so they claim. But there is a little problem, as a digital currency it’s worth as much as what someone you’ve never met who has no allegiance, state or clear intent about it’s past, present or future, say’s it is.
Should you invest in something that has shot up from 30.00 to 2700.00 in almost no time? Should you buy a lottery ticket?
All of the things that make it special – it’s “crypto” for instance is only as secure as the networks that it moves across (not secure from everyone, by design).
It’s supply, which is controlled by computers “digging” in virtual reality – a technology limited by computer power at this stage. Trust me when I saw the worlds governments have technological capabilities vastly exceeding whats in the public domain and has been for a very long time.
During a tour of the NNSS (where they did most of the US based above ground atomic testing) the guide bragged about having access to cameras that could shoot 1 billion frames per second in the late 50’s and hiding that #becausetheycan They likely have the computers to not only collect all of the bitcoins in real time, but manipulate the presumed supply of them, everywhere, at once.
Needless to say at a practical level Bitcoin is highly speculative, highly unstable and can be vastly profitable for day traders and others moving fast enough.
But it’s still a gamble, so play with money you can afford to lose, today it fell from 2700 to 2100…in one day!