Originally Posted by
TommyGun
In the very early BitcCoin days I went to a conference at MIT about this stuff. The very early adopters did not see it as an investment or a means to replace a fiat monetary system. The nerds loved the blockchain technology and the mystery around Sitoshi and the black market loved it’s potential for transactions that could not be tracked. At that time Ethereum was considered technically superior to Bitcoin as a ledger. So why the love for BTC other than fear of missing out?
Looking back the BTC price was so low but I did not buy, just too risky as an investment. Too volatile, no way to properly valuate the the real intrinsic worth. I do not regret it.
And now everyone and their mother is running a robust blockchain, and it is believed based on some DoJ indictments that the feds can clearly determine each end of a bitcoin transaction. And the Treasury Dept is also in on watching transactions as well. They know who should be reporting gains from BTC so be be aware of that come tax season.
Then there are the exchanges that get hacked (there will always be another amount Mount Gox) and your own wallet may not be as secure as you believe. Sorry to ramble just my two cents….