Ponzi scheme - Part 2.

By End Of August, I was getting calls from my clients, friends or my e-connect about BITCOIN. It was lot of effort to explain each of them about BITCOIN as a Ponzi scheme. And then, I wrote this piece ( https://kundankishore.in/2017/08/27/what-is-a-ponzi-scheme-bitcoin/ ). It was trading at 4500 USD per BITCOIN. And today, it is trading at 3800. Almost 15% down. 

Friends - Its a falling knife. Don't assume that its cheaper now and its time to buy. Stay away please. However, would like to add 2 points.

--> Blockchain may be a good technology which will be used across different sectors.

--> There is a need of Crypto currency and it many come into existence. But, certainly not in this format of BITCOIN and other currencies. 

Remember one thing, lot many of people got richer by duping others or conducting one or other crime. But, you are a good man :) You have earned respect and money both by doing hard work. Keep doing that. 

Even if it goes back to 10,000$, you should not regret of missing the chance of making money through BITCOIN because of 2 facts :-

1) You never understood BITCOIN even and thats why you are not investing and trust me this is the basic rule of investing. You should invest only in those assets which you understand.

2) You don't want to make easy money. You have always worked hard and it went in your favour. So, its fine not to invest into something which is behaving like a lottery and not investment. 

Cheers