Please pay attention and read this article in full!
Because today we’ll be sharing a dire warning with you:
If you own bitcoin, you may be in extreme danger.
Our research indicates that a unique phenomenon is likely to occur between now and January 2, 2018.
And if you’re not prepared for it, things could spiral out of control very quickly.
This phenomenon is something known as “The Uncle Mike Effect.”
If you haven’t heard of it before, don’t worry…
Today, I’ll tell you everything you need to know:
You’ll learn how to spot this threat early — and most importantly, you’ll learn how to defend yourself against it.
Again, please read this article in its entirety.
Your wellbeing may depend on it.
Beware of Your “Uncle Mike”
Before I continue, first let me apologize for the melodrama…
I just wanted to ensure that I had your attention.
Now that I do, let me answer the question you’re asking yourself right now:
Who (or rather, what) is “Uncle Mike”?
Uncle Mike is my uncle — although that’s not his real name. I’m changing his name to protect his identity.
Uncle Mike is a sweet guy. I love him dearly. But he does have some strange quirks, and one of them always comes out around this time of year.
You see, after Uncle Mike has a few glasses of wine during Christmas dinner, he undergoes a radical transformation:
He becomes “smarter” than everyone else in the room.
And at that point, Uncle Mike’s opinions are no longer opinions at all:
According to him, they’re cold, hard facts.
You might not have an uncle named Mike. But I’d be willing to bet you have a family member or a friend just like him:
Someone who thinks they know everything about everything, and isn’t shy about telling you so.
And this holiday season, I predict the “Uncle Mikes” of the world will have a new topic to educate us about…
The Uninformed Economist
I’m talking, of course, about crypto-currencies.
You see, as recently as a few years ago, few folks had even heard of Bitcoin.
But thanks its meteoric rise, you can’t watch the news or surf the Internet for five minutes without coming across it.
Uncle Mike and I haven’t seen each other for a few months.
But he recently found out that we’ve been covering cryptos in the Crowdability newsletter (as well as in our new VIP research service, Crypto Fortunes.)
And because we’ll be seeing each other for Christmas, he’s already started preparing to unleash an “Uncle Mike Opinion Tirade,” the likes of which we’ve never seen before.
He’s already sent me three e-mails railing against Bitcoin — telling me how worthless it is, and explaining why I’m making a huge mistake investing in it.
In fact, Mike was kind enough to inform me where I should invest my money instead. (I wonder where he gets his investment tips. Did I mention he’s a waiter at Olive Garden?)
I haven’t replied to his e-mails. I’m waiting until Christmas, so I can see the look on his face when I dismantle his arguments in person.
But here’s the thing:
I imagine you have someone like Uncle Mike in your life — someone who thinks they’re smarter than everybody else in the room…
And this year, I imagine that special someone is going to give you an earful about cryptos.
So for the rest of today’s article, I’ll share the three big objections Uncle Mike has against crypto-currencies…
And most importantly, I’ll show you how to refute each one.
Uncle Mike Objection #1 — Bitcoin is Worthless Because It’s Not Backed by Anything “Real”
This is one of the biggest misconceptions about crypto-currencies.
For some reason, people think that, just because a crypto isn’t controlled by a central government or bank, it has no value.
If that logic were true, then the U.S. Dollar would have no value either.
You see, since 1971, the U.S. Dollar hasn’t been backed by anything other than faith.
That’s when President Nixon took us off of the gold standard.
Since then, the only thing that gives the dollar any value is our belief in it.
It’s our belief and faith that, if we accept a dollar from one person, we can go out and spend that dollar elsewhere.
It’s the same exact thing with Bitcoin.
In fact, in countries like Venezuela that face government corruption and hyper-inflation, citizens have more faith in Bitcoin than they do in their own national currency.
That’s why, according to Business Insider, Bitcoin use is sky-rocketing within the country — growing from just 450 users in 2014, to 85,000 users in 2016.
Uncle Mike Objection #2 — Bitcoin Is Too Volatile to be Used as a Currency
Uncle Mike makes a better point here…
Bitcoin’s volatility does make it more difficult to use as a “medium of exchange.”
Meaning, if someone accepts one bitcoin as payment for something today, there’s no telling what that bitcoin will be worth tomorrow.
And it’s true: having the price of a currency controlled by a central bank certainly makes it easier to use for these purposes.
But that doesn’t make Bitcoin worthless. In fact, under certain circumstances, it makes it more valuable than a traditional currency.
You see, a strong central bank can be a blessing or a curse.
For example, in 2013, Cyprus — an island nation in the Mediterranean that served as an international tax haven — suffered a devastating financial crisis.
So much so that the government decided to seize about 40% of the money in its citizens’ savings accounts — billions and billions of their hard-earned cash — in order to bail itself out.
Can you imagine if that happened to you? If your government decided one day to help itself to nearly half your savings?
Crypto-currencies like Bitcoin were designed to prevent that from happening.
With cryptos, you’re in control of your money.
So while Bitcoin might not make sense for day-to-day financial transactions, longer-term, it can be a far safer place to secure your capital.
Uncle Mike Objection #3 — This is a “Bubble”
Uncle Mike might have a point here, too…
But here the thing:
So what if we’re in a bubble?
If crypto prices are skyrocketing, that creates an opportunity!
As long as we recognize that cryptos are speculative and volatile, we can create a strategy to help protect ourselves from the potential of the “bubble popping.”
For example, we tell members of our research service, Crypto Fortunes, to commit just a small amount of their investable assets to cryptos — in general, not more than 5% to 10%.
Then we show them how to diversify their investments across 10 to 15 holdings.
This enables you to take advantage of all of the upside potential of this bull market — but at the same time, it helps you protect your downside.
Bottom line: if Uncle Mike decides to sit on the crypto sidelines while other people like us are making a killing, that’s his loss.
What Have You Been Hearing?
You just read about the three big arguments my “Uncle Mike” will make this holiday season, and you learned how I’ll refute them.
With all my logic buttoned up, now I’m looking forward to Christmas dinner, where I’ll educate him on the finer points of crypto-currencies!
But now I’d like to hear from you:
What are some of the big objections that you’ve been hearing about Bitcoin and other cryptos this year?
And how have you been responding to them?
Click the Comment button below and let me know…