Quote:
Originally Posted by data_mine
then don't. everyones risk profile is up to them to decide.
it's equally as vacuous as the stock market or the forex markets - people are trading on predicted value changes. it's all funny money, until you cash out.
you buy shares in company XYZ because you believe (for whatever reason) that tomorrow they'll be worth more, not less). you buy USD because you believe it'll be worth more against the AUD - either AUD goes down, or USD goes up).
in the unlikely event bitcoin disappears tomorrow you'll be left with the same as if in the unlikely event the ASX disappears tomorrow - nothing.
only investments in physical materials (be it gold, oil, wheat, wool etc.) do you actually own 'something'. and then only if you take delivery of said something. trading with paper values of commodities is just as risky as shares/forex/crypto.
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I'm not big on shares but from the limited exposure I have had there seems to be regulation, reporting, accountability and guidelines all listed companies must abide by.
What governing body moderates bitcoin? How are they audited? Where can I get my hands on a PDS?
Is a share not a portion of the actual company entity? So, a share is a tangible asset directly linked to the company it belongs to.
Saying crypto currency is equally as risky as other more mainstream investment vehicles is drawing a very long bow.