Market Watch
Brett Arends
Nov. 18, 2017
Worried about the gigantic bitcoin mania? You should be.
As the speculative online “currency” surged again Thursday to a fresh record above $7,800, valuing all the bitcoins in the world at an eye-watering $130 billion, a new survey revealed that most of the ordinary Americans playing the high-risk game have absolutely no idea what they are doing.
Three-quarters of bitcoin BTCUSD, -1.05% holders could not identify a sound financial reason for investing, two-thirds said they hadn’t locked in a nickel of profits even as the price of the token rocketed skyward, and more than half said they didn’t worry about the technology security of their bitcoins — even though hundreds of millions of dollars of the tokens have already been stolen by online hackers.
These were the findings of a survey of 564 bitcoin speculators or investors conducted Nov. 9-13 by polling company Pollfish on behalf of LendEDU, a financial website.
More...
https://www.marketwatch.com/story/the-reasons-americans-give-for-buying-bitcoin-show-they-have-no-idea-what-theyre-doing-2017-11-17
