Why shouldn't I invest in BitCoin?

A friend recently invested in bitcoin and it has since gone up a whopping 60%, If bitcoin has almost completely only ever done up in value why would anybody not invest?
So my question is what are reasons not to invest, other than the risk of it ever going down.

For most people I would assume it's to volatile to be an investment.

Crypto currencies are notorious for getting stolen by hackers. Ethereum got hacked a few months ago and around 13 million dollars were stolen. The more of these exploits, the less trust there is in the system, which would ultimately drive the value of it down.

01-11-2017, 07:10 AM

masara Wrote: Crypto currencies are notorious for getting stolen by hackers. Ethereum got hacked a few months ago and around 13 million dollars were stolen. The more of these exploits, the less trust there is in the system, which would ultimately drive the value of it down.

Bitcoin has had a pretty spotless record for quite some time now though right?

01-11-2017, 07:10 AM

masara Wrote: Crypto currencies are notorious for getting stolen by hackers. Ethereum got hacked a few months ago and around 13 million dollars were stolen. The more of these exploits, the less trust there is in the system, which would ultimately drive the value of it down.

Not to mention the more places that accept bitcoin as a form of payment,the more credible it becomes. If more mainstream places end up taking it. The value would probably be more steady.

01-11-2017, 07:11 AM

thealphamabet Wrote: Bitcoin has had a pretty spotless record for quite some time now though right?

So far it looks like it. It's value is dependent on how widely accepted it is as a currency worldwide as well as how fast the blocks will be mined. In the end, the blockchain is finite so eventually there won't be any more coin to mine.

Every day I don't invest feels like a waste of potential money if I do ever invest

01-11-2017, 07:17 AM

thealphamabet Wrote: Every day I don't invest feels like a waste of potential money if I do ever invest

My biggest regret is not investing when it was worth pretty much nothing a few years ago

There are plenty of people who did that and pulled their money out as soon as it went up a little. Even if you had put $1000 in at the start how long would you have been able to last? haha

I recently watched a video calledHow the Bitcoin Bubble Will Popand that is why I haven't invested. That and the fact that I'm poor lmao