So many people are obsessed with bitcoin but I feel like it's kind of culty - like they're some high tech pyramid scheme folk. And yet - it's intelligent and I need to start investing. I just honestly don't know how to navigate it and know what to do. Anytime I ask about it, the person's entire life is based on it and I freak.

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Ask yourself this: What exactly are you “investing” in when you buy Bitcoin? What drives its value?

Any time you’re picking specific companies to invest in, as opposed to choosing a market index fund, you’re essentially gambling. Buying Bitcoin takes that gambling analogy to the next level.

That’s not to say you won’t get rich buying Bitcoin, history has certainly shown us that’s entirely possible, but let’s not pretend Bitcoin value is based on anything but 100% speculation.

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Here is my analysis. Crypto currency fills a gap that is useful and desired, which is a stateless currency. I do not think that there won't be something that fills that gap because it's too useful and important. Crypto currency fills that well, and bitcoin is the best of breed. So my thoughts on bitcoin stem from how well it fits this domain. If bitcoin stopped being used, it wouldn't be because the domain went away it would be because something else replaced it. For the short to medium term I think bitcoin is a good investment.

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