Thursday, May 25, 2017 by Martin Mavis
The Health Ranger explains why most people who are speculatively holding Bitcoin will be unable to get OUT of Bitcoin when the next panic selloff begins.
Getting IN is easy. Getting OUT is incredibly difficult, and only a few will be able to unload their Bitcoins at anything near the high price.
Podcast Transcript: “People are being suckered into Bitcoin having no idea of the risk that they are taking. Or the fact that most of them will never be able to sell their Bitcoin for cash. This is Mike Adams, the Health Ranger. I am pro Bitcoin – by the way – in terms of what it does. It’s a cryptocurrency – a distributed peer-to-peer blockchain based system. It has huge advantages versus central banking. The central banks are dishonest, currency counterfeiters – all of them – without exception. Bitcoin is a more honest system of exchange. And it’s more efficient in terms of making certain types of transfers and having low fees for transferring funds around. So, Bitcoin has some very important advantages. But most people are not ‘technically literate’. They don’t understand ‘what is a blockchain.’ They don’t understand a distributed ledger… As a result, they don’t understand that it’s very easy to get into Bitcoin – you can always trade dollars for Bitcoin – but it’s almost impossible to get out of Bitcoin when the panic-selling begins. In fact, it will be impossible for most people… only a few will get out.”