The original title of the article is "Here's Why I Still Won't Buy Bitcoin, and You Shouldn't, Either". I particularly like how it's published on a site called fool.com??
Ok, first reason the article seems to be getting at is that Bitcoin has already increased so much in users and value, suggesting that this time you really, really missed the boat so despite BTC breaking record after record, Sean the writer believes you shouldn't get aboard. Yes "still" is the catch phrase here because that same Sean has been "warning" people about Bitcoin for years. Yeah, Sean is.....one of those.
Second reason is that the article suggest Bitcoin isn't scarce and that the 21 million Bitcoin max, may not be the max after all, unlike gold. Yes, it really says this. "Take gold as a comparison. Since we can't use alchemy to make any additional gold, what remains in the ground and what's been already mined is all there will ever be. In terms of physical scarcity, that's a true line in the sand". So gold, which is still being found to this very day after being discovered a mere 4000 years ago, is more scarce than Bitcoin (?) I'm not saying gold is limitless, but we don't how how much exactly is still out there. I remember when I was in high school, our biology teacher talked to us about oil and how it's running out. He ended with the conclusion that he will not be around to witness the last oil drop get extracted but that we, the students would. Well, it's been almost 20 years since then and record amountslarge oil fieldsbeing found this very day. (Jeesh, 20 years? How time goes by??) But Bitcoin on the other hand, has only been around one decade and has been set at 21 million from the very beginning, while gold, oil, gas, platinum, palladium etc. all have large quantities out there just waiting to be discovered. This is actually a huge difference to take into account when investing come to think of it, since the only time this could ever be relevant to Bitcoin is when someone finds old/lost wallets
Third reason, because "It's important to recognize that businesses aren't willing to jump at the chance to use blockchain until it's been thoroughly vetted in the real world. We're just not anywhere close to that yet". So you should just wait till they catch on and the prices really explode, it should probably be ok for you to get aboard then.
Time for the 3Fs and then I'll bid you farewell; Fourth, final and my favorite reason: Because "investors have a really poor track record of estimating the adoption of next-big-thing technologies...their adoption took far longer than expected."
