So you're thinking about investing in Bitcoin? Don't

Almost everything in this article is wrong. This is someone that does not understand bitcoin or crytpo. In many ways, the market is overvalued but not in every way. There is too much here to try to clear but its clear that mr. mustache has no real understanding of this.

This is not tulips or finger nail clippings. this is something new. something wonderful. but yes with its own problems.

"Even if you win money through dumb luck, you have lost time and energy, which means you have lost."

Winning money while losing time and energy is what happens to most when working a job, should we just give up on working as well then?

The story about the cancerpill also isn't comparable to cryptocurrencies.

"You could make the same argument about my fingernail clippings: they may have no intrinsic value, but they’re in limited supply so let’s use them as the new world currency."

If everybody can agree on this then you have a new currency, no? Isn't that the same as our current currency? We just agree on pieces of paper to represent a monetary value.

Who the hell is writing these articles? The author sounds like the kind of person who loves his 20 second reads on Slate. I didn't expect much better coming from The Guardian. It makes me wonder, are they just pushing out these articles to force weak hands to fold or never enter in the first place?

So you're thinking about writing an article about Bitcoin? Don't

You could make the case for momentum investing as well. The underlying asset has value but not at the premium you paid for it. or any stock that doesn't pay a dividend it has no intrinsic cash flow.

To me one of the neat early ICO projects is shared wifi access. outside of the coin that can only be traded space. which is were the true potential of crypto currencies can shine.

(...) we need to separate the usefulness of the underlying technology called “blockchain” from the mania of people turning bitcoin into a big dumb lottery. Blockchain is simply a nifty software invention (which is open-source and free for anyone to use), whereas bitcoin is just one well-known way to use it. (...)

Will just comment on this sentence: careful here, blockchain is just one of the technologies that Bitcoin uses. But there are other important elements to Bitcoin, such as the concept of decentralization. A company or a bank can use blockchain in a centralized manner. This video by Andreas Antonopoulos (bitcoin advocate) helps make the distinction: Bitcoin vs. blockchain (https://www.youtube.com/watch?v=kHbtp7pOftU).

From the video description: "Blockchains are only one of the foundational technologies. In an attempt to co-opt the interest around Bitcoin, companies and governments are trying to circle the square by creating centralised and permissioned versions while entirely missing the point: decentralization."

PS: That being said, Bitcoin is not the only cryptocurrency using blockchain and decentralization.