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Bitcoin Hits New Low

I wanted to give a brief update on Bitcoin. I had been very interested in bitcoin during the first big price surge in 2017. You may remember I was trying to get an automated trading platform off the ground around that time; luckily for me I did not finish the platform before Bitcoin’s value dipped. I have not looked back. Over the years my opinion on Bitcoin has changed sharply. I believe it to be a fraud perpetrated against retail investors. We see time and time again massive hacks against exchanges that have left many investors broke. It is a bummer that I never got any money out of this craze, but I also never lost money, and that puts me wildly ahead of average. Perhaps in moments like these we should fall back on that old adage: if it is too good to be true – it isn’t.

I think blockchain is an interesting idea and I am excited for future technologies that incorporate blockchain into designs. However, at least in its current state I do not see it creating the “first ever decentralized stable currency.” Maybe someday, but not today in its current iteration.

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