Just imagine when the biggest holders have had enough and sell out, and the hole shit starts collapsing. Imagine how many small time losers and hobby investors will go broke.

Sounds like a typical stock

Not at all

So.... not a scam at all. Just a high-risk investment?

The fees are too high to use as a currency, it's too slow, it consumes way too much power. There are more efficient alternatives that better align with the earlier expectations of btc.

That said, I profited some from it, so that's cool.

Nice

federal income tax is the biggest scam in history. But not surprised at bitcoin.

You talkin about the stock market?

last time i checked, bitcoin wasnt a stock

Stocks are based on people having trust in a business, showing up every day, getting skilled in a craft, and evolving society. Normal currency is anchored in the total amount of trust people have in the justice system to back it up.

Bitcoin have no justice system to back it up.. it is literally the wild west all over again. A few major holders will sell as much as they can when they have decided it will not get much bigger, and then every single other holder will lose a lot of money.

Of course it is just about impossible to predict, because bitcoin have no outside factors to predict it to. Stocks are based on a business in a market, and the technology for that market is always evolving. So there -are- ways to predict a normal business, although there are also speculators dictating the price as well. But with bitcoin, there is no telling what will happen.

What if a solar storm were to knock out all of Earth's power supplies? It wouldn't be our biggest problem, but i take it then that all matters that concern the value of bitcoin is lost? It has no real life currency/coins/notes to back it up. So it really is just a scam altogether. Mining for bitcoin is nothing different than botting for D2 pixels.