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1. Abnormally high investment returns. The most obvious sign of any investment skulduggery is the promise of an abnormally high investment return. ... I'd argu

1. Abnormally high investment returns. The most obvious sign of any investment skulduggery is the promise of an abnormally high investment return. ... I'd argue there's no promise of any investment return. Bitcoin just allows the transfer of money nearly instantly. 2. Guaranteed returns. ... There are no returns since it just a currency to be used. 3. Consistently high performance. ... Bitcoin isn't a stock, it's a currency. If you're using it to invest, you're gonna have a bad time. 4. Vague business model. ... Not a business, just a currency. 5. The need for more investors. ... There is no need for anyone to invest in Bitcoin, there are plenty of hedge funds putting their money into it. 6. Pressure to reinvest. ... You can go in and out of Bitcoin as you please. 7. The pressure to act now. ... This is probably FOMO, noone's forcing you to purchase Bitcoin and I would not purchase Bitcoin during a rally unless I was doing a Monday-Friday trading run (buy Monday, sell Friday) 8. Credibility through association. Noone is associated to Bitcoin, it's an anonymous currency.

virgilp 6y ago
It's not a currency. It lacks "acceptability", by design - you can never pay for your subway trips with BTC, it just wouldn't scale not even to a city like NY.
- WrtCdEvrydy 6y ago
  Coinbase Card would allow you pay for anything using a credit card. https://www.coinbase.com/card https://www.coinbase.com/card It's just another way to spend money.
  - virgilp 6y ago
    ... by changing the BTC offline into fiat currency. Doesn't change anything, using the same mechanisms you could create a similar card backed by any commodity. A coinbase card transaction is not actually a BTC transaction.
    - WrtCdEvrydy 6y ago
      Unless the entire market switches to BTC, it's not gonna be possible to do a full BTC transaction. Even if your coffee shop accepts it, it's not likely their bean providers might.

virgilp 6y ago

It's not a currency. It lacks "acceptability", by design - you can never pay for your subway trips with BTC, it just wouldn't scale not even to a city like NY.

WrtCdEvrydy 6y ago
Coinbase Card would allow you pay for anything using a credit card. https://www.coinbase.com/card https://www.coinbase.com/card It's just another way to spend money.
- virgilp 6y ago
  ... by changing the BTC offline into fiat currency. Doesn't change anything, using the same mechanisms you could create a similar card backed by any commodity. A coinbase card transaction is not actually a BTC transaction.
  - WrtCdEvrydy 6y ago
    Unless the entire market switches to BTC, it's not gonna be possible to do a full BTC transaction. Even if your coffee shop accepts it, it's not likely their bean providers might.