I was going to leave this post without saying anything but this reply caught my attention.
1. The price is through the roof
I have no idea how this makes it a reason to sell except if you can look at the facts from a long distance and don't take the time to research a bit into it.
Back in 2015 the price of 1000 was incredible and unbelievable. This is because the price at that point was about $250. That's a profit x4 ! And it happened just like that before we could even believe it.
And when the price hit that point, there was people just like you (exactly like you) who were telling us to sell as that's the highest it can ever become. A lot of people sold and were totally happy with the profits they made.
Oh let's just imagine how much MORE they could've made by NOT believing what the "people" said and held onto now. I'm not gonna calculate it you can do the math but we can say it's well more than 60 times !! Do you imagine ?
That's exactly why I'm not gonna sell any time soon. Keep saying whatever you want.
2. There are already 1380 other crypto currencies
BTC ain't one of them.
3. Bitcoin can be hacked
Prove it. Please hack the address on my profile and transfer them to your account.
4. The fees are way too much to transfer funds
On point but will get solved eventually
5. 1000 people control the addresses of 50% of the bitcoin
Jeff Bezon got 97 billion dollars. Bill Gates has 90 billion dollars. And the list goes on. Got anything to say ? Plus those numbers aren't even accurate.
6. Bitcoin might crash on December 18th when futures start
7. It appears to be near the bubble
8. The volatility is insane and unpredictable
9. Bitcoin was only worth $0.003 each in 2010 and could drop back to that level
10. The only way to collect profits is to cash out before it crashes
Just LOL. I guess my first part of the quote cleared all this uselessness.
All wrong. The distribution of Fiat is much more even compared to Bitcoin's distribution. Bitcoin can be hacked. Not right now, but in a decade most definitely due to quantamn computing. And the big issue, which really destroys bitcoin's security, is that coins can not be recovered if lost. So, in the future if Bitcoin is "hacked" into, and something happens to your wallet, it's
gone forever. In the case of Fiat, if a bank is hacked then they'll simply reimburse you for the funds, at least USD and Euro. Bitcoin has no such protection. The average person will never adopt Bitcoin because of that(not evne mentioning the extreme volatility and extremely high fees, slowness, etc), mark my words