Inciting Fear: Bitcoin Is A Fraud
As the cash system continues breaking apart, bitcoin gets more attention.
Banks Hate Bitcoin, Blockchain and Disruptive Money
As bitcoin gains more and more attention, central banks and governments start to panic. Bitcoin is disruptive in that it will revolutionize the way we trade and finance. This would push fees to miners and those invested in bitcoin and banks want to control all the fees.
"Bitcoin is a fraud, and will blow up."
- Jamie Dimon, CEO of JPMorgan & Chase (A source)
China, the U.S. and at least 4 other countries are either banning ICO's or implementing strict regulations that make it very expensive to operate (Source).
It is interesting that the scared are trying to incite fear on the masses regarding bitcoin and cryptocurrencies. Some regulation is good, necessary even. But to try and control the blockchain is a bit naive. Problem is, so are a lot of people, who just follow the masses. Massive buys, massive sells, massive investments into new coins. Most often this is referred to as FUD (Fear, Uncertainty, Doubt) and FOMO (Fear of Missing Out).
HODL Your Ground
Fiat is still the primary means of finance in every country. Don't go all in on bitcoin until you can pay your mortgage and other bills with it. I do recommend, however, investing in cryptocurrency and just holding it. Don't sell with the masses. Educate yourself before buying into the next new thing. Start with bitcoin, ethereum, steem.
Do you really think the governments and banks aren't buying their share?
Look at Wall Street. When markets take a nose dive, they recover and make insiders a mini-fortune. Bitcoin is looking pretty bearish right now...
Look at 2011, when bitcoin broke $1k USD for the first time and made millionaires overnight. Yes, it dropped again, but it continues to rise each year. It is deflationary.
If I have 1 pie and 6 people want a slice... no problem. Cost is fair.
If I have 1 pie and 60 people want a slice... that's a lot of slices and it will cost you.
Supply and Demand example:
60 people have 6 bitcoin, 600 more want it. Lower supply, higher demand = higher price. (Bull Market) 600 people have 60 bitcoin, 6 people want it. Greater supply, lower demand = lower price. (Bear Market)
Don't let fear-mongers make your decisions for you. Educate yourself. If everyone was jumping off a bridge... Same concept.
Be sensible. Don't dump your life-savings into blockchain, but don't sell all your cryptocurrencies at a massive loss, just cause everyone else is.
Consider the motivation a major bank or government may have for scaring you away from using a disruptive technology. What happened to all those crypto-funds from BTC-e or Mt. Gox? Is someone storing up whale shares? Ask questions.