I wouldn’t put $0.01 in Bitcoin or Cryptocurrenties

I wouldn’t put {videoTitle}.01 in Bitcoin or Cryptocurrenties

Got Scammed? Fight Back!

Get Started Today

I am not investing money in or buying Bitcoin or other cryptocurrencies. I have gotten hundreds of comments from people asking about Bitcoin and the cryptocurrency craze. I am sure I will catch a lot of flack for having an opinion against Bitcoin, but nonetheless you asked and I delivered.

There are three main reasons as to why I will not be buying Bitcoin or investing in Bitcoin.

The first reason is due to the fact that I don’t understand it. While I understand the basics, I don’t have a full understanding of the blockchain payment networks. My number one rule when it comes to investing is only to invest in things you fully understand.

The second reason why I won’t be buying Bitcoin is due to the volatility. I do not invest in volatile assets. If anything, I occasionally trade them if they meet my number one rule of being something I fully understand. Volatility is not something you want in a long term investment. The rapid appreciation in the price of Bitcoin makes me feel like this may be a speculative bubble. I may be wrong, and I am sure you will not hesitate to correct me if I am.

The third and final reason why I won’t be investing in Bitcoin is due to the low transaction volume.

Average Daily Transactions (7 Day Average)
December 31st 2016: 258,197
September 1st 2017: 251,543

Increased awareness and interest surrounding Bitcoin should be resulting in an increase in transactions. To put this into perspective, Visa alone handles 150 million transactions each day. Based on the September 1st transaction data, for every one Bitcoin transaction each day there are 596 Visa transactions. The Bitcoin payment network has a crumb of the total transaction market share.

At the end of the day, Bitcoin is a currency and as such it should be active. It should be changing hands. Most people are buying and holding Bitcoin, and as a result this defeats the purpose. Due to the volatility, I don’t see Bitcoin as a functional currency and I am skeptical of whether or not it ever will be.


754-666-3972 (754-MONEYQA)

#1 BOOK I RECOMMEND (Wealth): http://amzn.to/2sncXrg
#2 BOOK I RECOMMEND (Mindset): http://amzn.to/2smXaIW
#3 BOOK I RECOMMEND (Happiness): http://amzn.to/2smO0Mv
#4 BOOK I RECOMMEND (Investing): http://amzn.to/2rsXWny
#5 BOOK I RECOMMEND (Tony Robbins) http://amzn.to/2vtNDAy

Website! http://www.ryanoscribner.com
Follow me on Twitter! https://twitter.com/RyanOScribner
Facebook! https://www.facebook.com/ryanoscribner/
Snapchat! ryanoscribner

My Equipment…
CAMERA: http://amzn.to/2smXFCO
MICROPHONE: http://amzn.to/2t7kR7V
LAVALIER MICROPHONE: http://amzn.to/2u1j45q
TRIPOD: http://amzn.to/2qOSKZ5
SD CARD: http://amzn.to/2rttI3K
LIGHTING: http://amzn.to/2qON0Pl
ACOUSTIC PANELS: http://amzn.to/2s2ywjr

My Board…
WHITEBOARD: http://amzn.to/2qOVRR1
MARKERS: http://amzn.to/2qPetjA
ERASER: http://amzn.to/2rkduLU
CLEANER: http://amzn.to/2qOXPAT
STOOL: http://amzn.to/2rA2omJ

If this video brought value to you, please leave a like! If you are looking to find out more about anything I discussed, drop me a comment or contact me on Twitter. Subscribe to be updated on my journey through life!

If anyone is looking to open a stock trading account, I highly recommend Robinhood as they offer free stock trading. I recommend them because this is the stock broker I use. Unlike traditional brokers, they do not charge commission on trades or require a minimum account balance. If you are interested in signing up, here is the link:


This is an affiliate referral link. You do not have to use it. I make a small commission for referrals.

DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. I am merely sharing my opinion with no guarantee of gains or losses on investments.

%d bloggers like this: