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  • Jesse John Francis Clark

Why I Never Got Into Bitcoin

Jesse John Francis Clark

I will tell you why I never got into bitcoin:

- Bitcoin was founded by a nefarious Country, not by the pseudonymous person by the name of "Satoshi Nakamoto. "

- Bitcoin's scarcity is a myth. There is supposedly a 21 million token limit with close to 19 million tokens already in circulation. The majority of then tokens are being held and not re-circulated because people think they will make large sums of money from it.

- Bitcoin is not physically backed by anything. It’s computer code. Imagine if someone hacked the blockchain? It’s only a matter of time before there is a breach.

- Most companies will not accept bitcoin to make transaction and you will be forced to use cold hard cash.

- Once miscreants start using Bitcoin for illegal dealings such as buying drugs, human trafficking, child pornography, etc., Bitcoin will be either shutdown or highly regulated.

- If you have time and money, you can create other digital currencies. If Bitcoin goes down due to hacking or regulation it can happen to all digital currencies.

- Bitcoin is not an asset

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