Why you should not invest on bitcoin

in bitcoin •  9 days ago

There are no absolute answer of this question, but i will tell you some reason why you should stay away from investing on bitcoin.

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  1. Bitcoin price is not stable. It can got to the top of ladder or to the bottom within a few time without any specific reason. There is a doubt that is it a currency or commodity.

  2. Bitcoin transaction can be hacked. On August-2016, a group of hackers taken $78 million from Bitfinex, which was a shocking news that time.

  3. Bitcoin uses blockchain technology which maintain anonymity of both sender and receiver. So a fraud can not be traced. Because of anonymity, this coin can be used for any illegal activities.

  4. Most of the countries have not legalized bitcoin. So if any fraud happen, you will not get any help from them and loose everything.

  5. It seems like bitcoin price is not controlled by it's demand. If can possible that the price is controlled by some hackers.

You can share your thought about bitcoin. If I missed anything or said anything wrong, please comment below.

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