Waching daily Oct 6 2017

Final question for today, Steven from Western Australia. Hello, what are

your thoughts on Bitcoin? Is it worth investing in? Thank you.

So we've had a lot of questions on Bitcoin recently it's becoming more and

more...usually when something's gone on a rally... So I mean

my view is that you should stay away from it. I mean number one, the volatility is

insane. It could easily drop 50 percent

in a day that wouldn't be that wouldn't be outrageous for Bitcoin. Your question

"is it worth investing in it?" I really don't even see it as an investment.

It's not a real asset, it doesn't have any earnings, doesn't have a return.

It's pure speculation on the price you know if you buy it that's what

you're hoping to achieve, which is different from buying a stock where

there's a company behind it. It has a business model you know hopefully either

has earnings or will have earnings in the future. That's not the case with

with Bitcoin. The other problem I have with it is that there's seemingly an

unlimited supply of competition, and we just know that recently hundreds

of competitors to Bitcoin have popped up. Some of them more successful than others

There's theoretically no limit to how many more can pop up.

People seem to be creating these things out of thin air on a daily basis. So

as I said I'd be steering clear, but if you do decide to invest just be prepared

that you could lose a lot of money quickly if it goes badly. I

don't doubt that you can also make a lot of money as well if if you get lucky, but

just not for me. Okay so that was all the questions for this week remember

to send in your questions for next week and thanks for joining.

Thank you very much for listening