Well to start off, I am not trying to convince anyone here to move to bitcoin and to be frank I am personally not bothered on what anyone here does with their wealth. If I were to it would make no sense to include the flaws of the system. As mention there are pro's/con's on everything, but I personally would not put my entire life savings into one basket. For me it's simple, if you don't trust something, dont do it. Likewise I would not leave all my wealth in ringgit too because I do not trust it too. The reason I started this thread because I wanted to survey and see how many car enthusiast actually are buying/selling cars or parts using bitcoins because I initially had plans on encouraging my mechanic on accepting bitcoins but maybe that might be a bad idea for now since many people are still skeptical.
I see you have a great port folio and you are very knowledgeable, I respect that. I just have an average portfolio of Forex trading, equity trading ,real estate, and cryptocurrency trading. My background is software engineering/game developer. I am one of an early adopter of bitcoin from back in 2012 when it was around USD60, but always regretted of not buying a large sum of it until today :(
Bitcoin sure does has it's pro's but I clearly stated its potential flaws but it's also an assumption whether it can succeed or fail. So even if it starts to fail, I am well prepared to make a move.
I think you might be confused with the term CRYPTOCURRENCY and bitcoin.
" A cryptocurrency (or crypto currency) is a medium of exchange using cryptography to secure the transactions and to control the creation of new units.[1] Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies. Bitcoin became the first decentralized cryptocurrency in 2009.[2] Since then, numerous cryptocurrencies have been created.[3] These are frequently called altcoins, as a blend of bitcoin alternative.[4][5]"
Crytocurrency is a technology, bitcoin is just the first decentralized Crypto-Currency. So as mentioned for the third time, what I personally believe is Crypto-Currency can be the future. Bitcoin can be but who knows maybe a new improved Crypto-Currency may come out. Like for now if you check out
https://coinmarketcap.com/
Bitcoin is number 1, ethereum number 2 which is a very new crytocurrency has appreciated 1000% in 3 months because of its more advance technology, i stock up a lot of it when it was around usd3 it when up to usd14 few weeks ago, now it's on a decline, well because it's being heavily traded in the crytocurrency market.
https://www.cryptocoinsnews.com/ethereum-rise-growth-new-york-times/
For its intrinsic value,
https://bitcoinmagazine.com/article...-twenty-two-reasons-to-think-again-1399454061
well of course it's no where close as established against USD hence it is still reference to USD, why? The public has to start trusting something to have value, just like how you trust that pieces of paper in your wallet has actual value. Evolution of money goes from barter trading, to precious metals and now to bank notes. Who knows the next generation of money might be CRYPTOCURRENCY? You must agree that digital is far more efficient then paper. It is also better for the environment. Who here still brings briefcases of bank notes instead of doing an online transfer or telegraphic transfer? Maybe in the future they might stop printing bank notes and switch to a digital era entirely, where it maybe might still be in ringgit but digital.
So can ethereum or bitcoin be the currency of the future? maybe who knows, early adopters usually benefits if it goes well. I personally have stocked up a lot of ethereums well because I believe in it :)