I know, I know, you’re wondering why an underwear company would be writing about bitcoin, but you’ll see by the end of this blog it will become more clear.
Firstly, it is very interesting that people continue to buy and support Bitcoin considering their entire purpose primarily is to facilitate illegal drugs, hitmen, or weapons transactions within the dark web. From a moral or ethical perspective this would be likened to money laundering with the mafia, where the money becomes untraceable and ordinary people start to contribute to making these criminals exceedingly wealthy.
Secondly, every piece of literature that has come out in the last year has been in support of a “decentralized” monetary system. By decentralizing the money, you remove institution from it, which is what regulates the system (generally preventing fraud, money laundering, hacking and other criminal activity). Why has no one bothered to point this out? Does anyone even care? Is it all about the money that can be made or do ethics ever enter the picture?
Now it has gone far beyond the Bitcoin revolution, there is Ethereum, Alt Coin, and a plethora of other “digital currencies” that can be traded on a stock market-like platform for fractions of a coin. It is a common process that people don’t buy 1 whole Bitcoin (or other digital currency), instead they could buy 0.765843287 of 1 Bitcoin.
One of the very interesting “security” features about these trading platforms is that you must send in your driver’s license or government issued photo identification as part of the approval process. No one knows who owns these digital currency platforms (for all we know it could be those same criminals that use Bitcoin for their transactions on the dark web). The security measures are in fact more substantial than opening a general trading account through your bank.
“Security” is one of the big features of Flight Underwear and so for these reasons, we like to keep our readers up-to-date on all the latest security-related information. We definitely would recommend you proceed with caution prior to enrolling on Quadriga, or one of the other “digital currency” trading platforms. It is equivalent to you carrying around a passport in Italy in something other than your Flight Underwear.
Another feature of Flight Underwear is comfort. We pride ourselves on offering the most comfortable underwear on the market. How comfortable do you as an investor feel to know that you have spent $1000 and have received 0.1349854222 of a Bitcoin? And if the value of Bitcoin does crash (which it inevitably will) then your very small ownership of Bitcoin becomes borderline worthless...this will happen the minute that everyone starts cashing in on how great the valuation currently is.
People constantly argue that because there is a limited amount of Bitcoin (only 21 million), that there won’t be as much fluctuation and that it somehow makes it more stable, but it is traded on stock market-like platforms, and functions exactly like a stock (which, coincidentally has a limited amount of “shares”). Stock can be very volatile and so can Bitcoin.
Finally, how knowledgeable are you on “blockchains?” Blockchain is what is used to conduct the digital currency. It is pretty confusing but it essentially creates a private ledger associated with every single bitcoin that is meant to prevent fraud. The system is still very cumbersome, complicated and not convenient for the average consumer. Additionally, the price point is astronomically high (kind of like our competitor’s underwear!). We’re all about providing amazing security, comfort, convenience, and functionality in a very simple package. Literally.
So rather than invest in something that is not as “secure” as it appears, get the most secure, comfortable underwear out there! Choose Flight!