People Are Mortgaging Their Homes To Buy Bitcoin

in #bitcoin6 years ago (edited)

Life is a risk, Getting out of bed is a risk, there are no guarantees in the persuit of liberty.

Bitcoin keeps soaring higher. And people have started to do creative things to get in on the action.

Some have even taken out mortgages to buy Bitcoin, while others are purchasing the cryptocurrency with credit cards, a securities regulator told CNBC on Monday. source

“There definitely are some risks — it’s not a perfect technology,” Morningstar analyst Jim Sinegal said, via CBS Chicago. “If you have money in the bank, the bank is protecting your money. If you have money in bitcoins, it’s all your responsibility.” source

But that is the beauty of Bitcoin. Self responsibility, something that has been missing for most people for a very long time. You can protect your own holdings simply by having them stored in a hardware wallet. A hacker cannot hack your Trezor wallet or your printed paper wallet.

What you cannot protect is the actual value of your bitcoin. But guess what, You cannot protect the value of the dollar either. Massive quantitative easing introduced under Obama has flooded the world market with dollars. Trillions of them and each one of those "Federal Reserve" printed dollars diluted the value of each one you had in the "Protected Bank". Every day that goes by your bank "protected" dollars become a bit more WORTH LESS.

Liberty for me is a human condition worth the risk. You have to decide for your self how much liberty means to you.

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