Kiplinger

Bitcoin: Why You Should Not Invest in Today's Fool's Gold

I've been asked about Bitcoin a lot lately. I haven't written anything about it because I find myself in an uncomfortable place in agreeing with the mainstream media: It's a bubble. Bitcoin started out as what I'd call "Millennial gold" -- the young (digital) generation looked at it as their gold substitute.

Bitcoin is really two things: a blockchain technology and a (perceived) currency. The blockchain element of Bitcoin may have enormous future applications: It may be used for electronic contracts, voting, money transfers -- and the list goes on. But there is a very important misconception about Bitcoin. Ownership of Bitcoin doesn't give you ownership of the technology. I, without owning a single bitcoin, own as much Bitcoin

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