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Ok, I’ll bite. What is Bitcoin? I watched the whole thing and I’m either too dumb to understand it, or it’s a scam. I don’t invest in something I can’t understand. I just watched a 20 minute video that didn’t explain it well enough to me. KC
I have tried to understand it and had people explain it but ...nope. I'm too old or too dumb. The only things of value will be brass, lead, gunpowder and guns, WTSHTF.
It seems like the people that explain it are like the people that explain AmWay. The beginning of the video talks about how they were ‘mining’ Bitcoin ... never does it say what that is or how they’re mining it. I know I’m not an idiot, but maybe this is beyond my understanding. Either way, I’m not buying any. KC
bitcoin mining puzzled me too so I looked at a few youtube videos on it.Basically every so often the pending transactions need to be posted to the records that hold all transactions. To post these transactions you need a computer to solve a very complex mathematical equation. The first computer that solves the equation gets to post the transactions and for their trouble they get a fraction of a bit coin. https://www.youtube.com/watch?v=f0HC1Udk6-E
But in the original video you posted they stated “the last Bitcoin will be found in 2041”, which makes me very skeptical of the whole process. KC
10 Reasons Bitcoin Is a Terrible InvestmentThe cryptocurrency kingpin has been on fire in 2020, but belongs nowhere near investors' portfolios.
One man's opinion;https://www.fool.com/investing/2020/10/17/10-reasons-bitcoin-is-a-terrible-investment/#9. The tax situation is a nightmare