How many times have we heard that enticing 'Buy now, or it will be too late tomorrow!'? The main argument of all Bitcoin apologists is the price increase itself. They say, look how it has soared! And that's it. There are no more arguments. What is behind this amazing 'innovative' asset that was supposedly supposed to change the world? Right: nothing but pretty promises and hope for a new, even more naive buyer.
Value from thin air
Let's clarify. Bitcoin was created as an alternative to traditional money and banking systems, a way to freely transfer values around the world. But here is the paradox: more than a decade later, this 'revolution' has yet to happen. What do we actually have? The use of cryptocurrencies in the real economy is negligible. Bitcoin did not become a means of payment—except for rare cases of exotic restaurants and online stores where owners accept crypto for advertising.
It hasn't become 'digital gold', as idealists dreamed. Gold is an asset that has preserved its value for millennia. Bitcoin, on the other hand, resembles more 'gypsy gold'—it shines, it lures, but in a crisis, when real values are needed, its shine dulls.
Volatility...
The main problem with Bitcoin is its crazy volatility. It 'bounces around' like 💩 in a hole in the ice. One day it can be worth $50,000, and the next day it can plummet to $30,000. Such behavior not only makes it useless for long-term storage of funds—it completely discredits it as a currency and means of payment.
Want an example? Here it is. Suppose a landlord decides to rent out a house for bitcoins, while the tenant receives a salary in dollars. At the time of signing the contract, Bitcoin is worth $50,000. Six months pass, and the price soars to $100,000. The homeowner is thrilled—he's effectively received double. And the tenant? He has paid double the amount from his pocket for rent. Conversely, if Bitcoin drops, the landlord will be at a loss and simply won't be able to cover his expenses.
And that is the whole 'meaning' of Bitcoin as a means of payment: any financial contract turns into a lottery with unpredictable outcomes. Honestly, who needs a currency that jumps around like a mad rabbit? The economy needs stability, not this carnival chaos.
Someone loses, someone 'moons'.
And now, pay attention: how does this scheme work? It's simple. The price rises as long as there are new buyers willing to believe in Bitcoin's bright future. This is a classic 'pyramid' or 'greater fool' scheme—you buy, hoping to sell to an even more naive 'investor'. But the problem is that you can't deceive everyone indefinitely: sooner or later, buyers run out, and the 'house of cards' collapses.
In over 10 years of existence, Bitcoin has proven one thing: it is the perfect tool for speculation. Those who got in early are already 'on the moon' and are selling their assets to those who jump on this train at its peaks. This is not an investment; it's a game of 'hot potato'. The main thing is to get rid of it before everything collapses.
Myths and Reality
And now, let's dispel a few myths:
Bitcoin is a hedge against inflation. Right? In 2022, it crashed by 70%, while inflation was rising worldwide. A hedge? Ridiculous.
Decentralization. In reality, a few large wallets control a significant portion of all coins. The entire market is a game of big players against the crowd.
Blockchain technology. Yes, blockchain is cool. But Bitcoin is just one of thousands of its implementations and far from the most advanced. Today, other companies, cryptocurrencies, and projects are developing blockchain.
Why Bitcoin will never become a currency
For a currency to fulfill its functions—as a means of exchange, a measure of value, and a store of value—it must be stable, not jumping around like a patient's ECG on a ventilator. Imagine if the euro or the dollar lost or gained 20-30% of their value daily. This is not currency; it's a financial attraction. No sane company or person would use Bitcoin for salaries, rent, or purchases.
Therefore, Bitcoin remains what it has always been: a speculative asset. It rises not because it has fundamental value, but because there are those who believe it will be worth even more tomorrow.
To believe or not to believe?
Of course, there will be those who continue to insist that BTC is the future, a salvation from global crises, and a tool for financial freedom. But you can't deceive the truth: there is no real business, economy, income, or utility behind it. Bitcoin is a speculative asset that lives only thanks to the crowd's belief that it will be worth more tomorrow.
To buy or not to buy?
It's up to you to decide. But if your only argument is 'it's going up!'—then congratulations, you've become just another player in a global casino. And casinos, as we know, always win.
Remember this, or you'll forget: Bitcoin is not the future of finance; it's just another bubble.