Sunday, December 3, 2017

BitCoin—The Gold Rush of 2017

BitCoin is a highly valued "currency" which very few people can actually see or touch. Thanks to anonymity of BitCoin transactions, terrorists, arm dealers and drug dealers are now capable to conduct their highly profitable ventures significantly safer.

BitCoin transactions can not be reversed. No money back guarantee because of anonymity. Once you buy something using BitCoins, you can not return it and receive your money back. No court will accept case involving BitCoin transactions.

BitCoin is promoted as the "free from all the Governments" currency, which has no regulating authority. In reality, Chinese miners have the biggest (81%) mining control in the world .

BitCoin is not easy to cash out. It might takes days before transaction is cleared. Not all transactions get cleared.

BitCoin mining is driving the energy demand upwards, thus negating all our efforts to use wind, solar and other clean energy sources. One bitcoin transaction now uses as much energy as your house in a week!

Lastly, BitCoin attracts high roller gamblers and scammers from all over the world, thus inflating the BitCoin bubble exponentially.