Topic: [2015-02-08] Forbes: Millennials, Beware Of The Bitcoin Bite (Read 1288 times)

I don't really know what she meant by "hackers breaking into controlled system..."

But to be fair, the article itself is rather neutral and the last paragraph looks as pretty reasonable advise (at least compared to all the other FUD out there):

Thank you for this angle. It shows very well how willing-fully buying into restrictions has very real opportunity costs.

This baby boomer does not agree. In particular when it comes to this quote: If there is one valuable piece of financial advice one can glean form this article for a millennial is to Jailbreak all your iDevices!. A little history is in order here. I started buying Bitcoin in late 2011 / 2012 when the Apple ban was in full force. In fact in response to the Apple ban, during part of 2012, my saving for retirement strategy consisted in part to: 1) Price out an iPad. 2) Buy an equivalent amount of Bitcoin each month. The price during late 2011 and early 2012 was in the 2 USD to 6 USD range. Since Apple lifted its ban in early 2014 the price of a Bitcoin has ranged in to 200 USD to 600 USD range save for a short spike downward into the 160 range. The loyal iSheep who played by Apple's rules, and waited for Apple's permission to buy Bitcoin, were therefore destined to pay 100x what paid I paid for the same asset.

The lesson here is that true innovation will not occur on a platform where one has to get permission to innovate. If one waits for permission then the real opportunity will be lost. Yes there are real sharks here, and one way to ensure that one gets eaten alive by them is to stay in Apple's walled garden. If Apple or a Soviet style dictatorship bans something, it may actually be a great opportunity to buy. One can then wait until the iSheep are given permission to buy and then sell them a small quantity at a 100x markup. After all the iSheep are meant to be fleeced.

http://www.forbes.com/sites/nealegodfrey/2015/02/08/millennials-beware-of-the-bitcoin-bite/