Opinions of BITCOIN safety wise requested

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Long question made short: If CASH is 100% as good as CASH and if one assumes that PayPal is 90% as good as Cash, where does Bitcoin fall on a 1% to 100% scale in your opinion. The only variable to eliminate for my question is for you to assume that ALL intentions of mine, a private user, are completely honest and above board. I know virtually nothing about Bitcoin and am looking for straightforward, honest and blunt opinions of this "product". I do not want to find myself in a situation that I perhaps funded a proposed new bitcoin account with a few thousand dollars only to have someone say to me "You mean to say that you never heard that bitcoin had this or that problem or potential pitfall in the works that I had not heard of. You need not go into great depth on your answer and I request that not more than EIGHT Experts give their opinion so that I can be able to award a decent amount of points to each of the eight respondents with a decent amount of points. Thanks Experts!
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Business Consultant (Owner)
Most Valuable Expert 2012
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Commented:
BitCoin went up and crashed.  As a day to day currency, it is essentially worthless to ordinary people because $100 yesterday may be only worth $80 today.

A recent article in the Economist Magazine panned Bit currencies as entirely speculative. On your scale above, for me, 1%

I put speculative money into good technology companies in my retirement account. Generally I have made a decent return doing this. I stay away from Bit coin and associated funds on the market.
The security model is valid, so your Bitcoins are secure, unless you do something stupid. (Forget the account credential and they are gone).

Bitcoins "value" is kinda arbitrary, based on what the marketplace believes they should be worth. This is of course also true of Australian or US dollars, since the abolition of the gold standard. Having said that, US and Australian dollars are general pretty stable, while Bitcoins value jumps around all over the place. This makes it an interesting currency for speculators, but less useful as an actual store of value.

Bitcoin transactions can be quite difficult to trace, so this makes then an attractive currency for illegal activities. Useful if you wan tot buy a kilo of heroin.

It is also worth being aware of various national laws, which vary a LOT around Bitcoin. In some countries, Bitcoin is legally a currency, in others a financial instrument, in some holding Bitcoin is a crime, and in others there are partial restriction, like banks being banned from handling them.  More on the laws here: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory
Dr. KlahnPrincipal Software Engineer
Commented:
Have a look at the chart below and make your own judgment.

https://coinmarketcap.com/currencies/bitcoin/

Indeed it takes guts of steel to ride that roller coaster and hang on tight no matter what happens, but what I see there is that those who invested and hung on instead of speculating obtained very good returns on their investments.  I certainly did.

As a currency I would not have anything to do with it; it is too volatile at this point in its development.  As a long term investment I find it exceedingly attractive.

Two items are particularly interesting:

Large consortiums of miners are putting massive resources into mining Bitcoin though the block return has fallen from 50, to 25, to 12.5, and early next year to 6.25 BTC/block.  Soon enough there will be no mining; there is a limit to the total number of Bitcoins.  The value must then increase relative to fiat currencies due to governments' habit of printing money without backing.  This means that while the U.S. dollar halves in worth every 15 to 20 years, on the other hand in 10, 20, 40 or possibly even 100 years one Bitcoin will still buy the same market basket.

China as a country is one of the largest players in Bitcoin mining.  At the risk of trotting out the "yellow peril" I would note that historically the Chinese have taken a long view with "What can we do today that will not necessarily pay off quickly, but will be greatly to our advantage in 50, 80 or 100 years?"

https://bitcoinmagazine.com/articles/report-links-74-bitcoin-mining-china-sees-threat-network/

Past returns have been good.  It is not controlled by any government.  It cannot be inflated.  It can be moved anywhere instantly.  Major money considers it worthwhile to mine Bitcoin and hold it for the future.  While forming your opinion of whether Bitcoin is an investment for the future, factor these things in.
Need -a- ClueRESEARCHER

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Commented:
Dear Experts, the information you have provided to me is exactly what I needed to hear and heed. I now have the information I need to make my decision. Thanks so much for your time spent!
JohnBusiness Consultant (Owner)
Most Valuable Expert 2012
Expert of the Year 2018

Commented:
Thanks for the update and I was happy to help

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