Whenever I tell my friends to invest in BitCoin they always say it has no backing or no value, it’s just a bubble etc. Here are the major anti bitcoin concerns
- It’s not backed by govt.
- It has no real value.
- It has no real use
- It’s not like stocks where value go up or down based on company’s performance
- It value go up or down purely based on people’s enthusiasm
- One who enter last will suffer all the loss.
- What will happen if miners loss their incentive after mining all the coins
- It’s power consumption is so high that one day govts will shutdown all mining operations
- What if some other better crypto currency take it’s place like ethereum Ripple litecoin etc.
- Quantum computing will crack bitcoin wallets
- It’s used for illegal activities
If we anlayse these argument they are true to some extent.Now to address third point
BitCoin has no real use
Here are the list of places where bitcoin is accepted
Head out to 99 bitcoins to see an exhaustive list of place or services where bitcoin is accepted.
