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I have trouble believing that Bitcoin will create any long term wealth for such a large number of people for one reason, it's too easy. When this thing pops (a

I have trouble believing that Bitcoin will create any long term wealth for such a large number of people for one reason, it's too easy. When this thing pops (and it will eventually) there will be a number of stories of "rags to riches" that will be in widespread media. What you wont see is the vast majority of people who lost out. Something with this much value involved and so little regulation is bound to cater to a very small number of people. If there is ever a possibility of a large-scale shift to a cryptocurrency as a standard for any currency, I doubt it will be bitcoin. I also doubt that anyone will reap the benefits simply by "being in early". Someone somewhere is pulling strings. You may get lucky and ride the waves that are created by those doing the behind the scenes manipulation, but there's a much bigger risk of getting worked.

rblion 9y ago
This gives me peace of mind. Thanks for the clear logic. I was 10 when the dotcom bubble happened and 18 when the Great Recession started. This is the first time in my adult life where I've had the money and opportunity to 'be part of something big' but I think you're right and that I should just use this money to pay down the last of my debt. I read yesterday that some 40% of the Bitcoin market is controlled by a small handful of hands. This is part of why I am hesitant to invest without asking here first. Glad I asked!
wu-ikkyu 9y ago
>Someone somewhere is pulling strings. From what I understand, isn't there a small minority of users who own a vast majority of BTC, meaning they could crash the market at will?