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- Mar 23, 2015
Thanks for that information, brother. I didn't know this issues about BTC and drug dealers. You've changed my mind about trying to speculate on BTC for a while.I don't know. I still think (besides investment purposes,) 90% of the use of cryptocurrencies is buying crack on DarkNet markets. That's the reason it has value. Bitcoin is going to be a target for Law Enforcement because of that, and if they have their way the value of BTC is going to nosedive like an eagle going in for a fish.
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Just be educated on what you're investing in. Like when you buy stock in Google, you're placing a bet that Google is going to succeed. When you buy Bitcoin you're placing a bet that Bitcoin is going to suceed. You're basically investing in a company that helps people send money anonymously to drug dealers. That is the primary use of Bitcoin. Anything else is naive. I don't care about the moral implications of purchasing guns or drugs.. it's not my business what people buy. I just don't think it's a safe bet. I think the odds of LE shutting down a currency that's primarily used to buy illegal goods is pretty high.
The FBI is going to be cracking down on it. The IRS is going to be cracking down on it. And once that happens, the bubble is going to pop. I mean if you want to gamble on it before it pops.. go for it.. but Bitcoin, I can almost say with 100% certainty, is not here to stay. Other cryptos are potentially a different story.
Personally I'm a big believer in blockchain technology and think there's a lot of money to be made if you invest in the right ones. Meaning the ones that solves real-world, real-people problems.
As far as other cryptos goes, can you share your thoughts which ones have a brighter future and why?
Thanks in advance,
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