bannanabannanagrape wrote:
Don't just write this off, it deserves some serious scrutiny but my personal view is that given enough research you'll view the risk of holding it far less than the risk of not.
I am not necessarily disagreeing with you, but neither am I inclined to agree with you. I am very happy to hear how you personally think it can maintain its value in the face of an onslaught by nation states.
However what I can personally contribute to this is that I watched a young chap I know put about £10k - which for him was almost everything he had - into bitcoin. He actually went with a blend of types. He hasn't traded it because it fell too fast for him to think ! To cut a long story short his pot is down to about £500 and most of the remainder is illiquid. At that point he 'fessed up and said he ought to have asked our advice earlier; and he also admitted he voted for Brexit.
There are many nation state currencies that exhibit similar downsides, and I've lived in a few of them during the relevant periods, so I appreciate this risk is not bitcoin-specific. However it is very real.
At least with gold you can fall back on the "store of value" argument, or the jewelry argument. You can't even paper your toilet with bitcoin.
regards, dspp