What do you guys have to say about the BULL in crypto(Bitcion)

[Schneider Theodore]

I need your response and suggestions about the sudden increase. Will it keep going up remain stable or return to $30,000?

[Joe Splitrock]

It scares the crap out of me how fast the value has gone up. 

Bitcoin has no advantage over other crypto currencies, other than first mover advantage. Governments hate crypto currency and are looking for ways to regulate and tax it. The main reason people love crypto is because it is not regulated and hard to monitor or tax. In other words, the main advantage is that it is non government controlled. That is the main thing governments will look to change. Up until this point crypto has been small enough that it has flown under the radar of governments, but that is changing. I feel like buying Bitcoin is betting against the US Treasury, Federal Reserve and the IRS. That is a bad bet in my opinion. 

Another problem is crypto currency requires miners to support transactions. That means if there is a crash, the financial incentive to support the system goes away. I just don't see the transaction fees supporting it in that scenario.

There is also the threat of hacking the system. As value increases, the incentive to hack the system also increases. The other threat is technology evolving with faster and cheaper processing power. Historically there have been more than one encryption schemes advertised as "non hackable" only to later be hacked. The beauty of stealing crypto is that it is hard to trace the owner, which is the thief in this case. 

I prefer real estate because it is tangible and physical. I see Bitcoin like baseball cards or any other collectable. It is subject to volatility and even crash. If you woke up tomorrow and Bitcoin was worth pennies, there would be no miners left in business. There would be no government bail out of crypto currency. All you would hear is a bunch of pundits saying "I told you crypto was risky". 

All that being said, what the hell do I know? I said they same thing when Bitcoin was at $5000 and people have made a killing since then. I could be totally wrong. Maybe our entire global financial system will move to crypto and those who bought in early will be billionaires.