What is the rule of visa in bitcoin? Or is there any issues?

I think that bitcoin and cryptocurrencies can fit into your portfolio - but only as a highly speculative allocation. I currently do not own any digital currencies and would be selling some as I think the next move is a further downside, but there may be a time when I choose to add again.

In any case, I find these three rules to be useful in terms of thinking about how and when to buy and sell Bitcoin and other cryptocurrencies. I believe they are important things that you need to factor into your thinking and analysis on the subject.

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Rule #1: Bitcoin Is Smarter Than Me

This is the first and most important rule about Bitcoin.

I cannot speak for everyone who reads my reports, but Bitcoin is definitely smarter than me. I do not say that lightly. I have a Bachelor of Mathematics in Computer Science and Combinatorics and Optimization, worked as a software engineer at Microsoft, and have taken several Ph.D. level courses in math and finance, but from what I can tell, I do not have the intelligence that the people who really know Bitcoin do. I might be able to muddle my way through setting up a mining operation, but the reality is that I have to accept that the people who know blockchain and cryptocurrencies are much smarter than me.

To put that in perspective, in my ordinary course of business I deal with a lot of economists, many with PhDs. They are very smart people and some have specific knowledge that I lack, but I don't feel overly intimidated by their knowledge. With crypto, I think I am orders of magnitude behind in terms of the knowledge the best and the brightest have in the field - it is both humbling and useful to understand that.

Rule #2: There Are No Rules

It seems silly to say there are no rules in a piece titled the 3 rules of Bitcoin, but let’s just go with it as this is important and ties into rule #1.

On a simplistic level, there is nothing to stop anyone from attempting to manipulate their position. With no good way to get short Bitcoin (that I know of), the manipulation would be to force the price higher.

Someone could buy Bitcoin and do everything in their power to make it go higher. Bitcoin may not even be a prohibited “investment” for people who normally have investment restrictions due to the nature of their jobs. So, for example, the financial media, while typically restricted on investments due to their position may not be uniformly prohibited from owning Bitcoin.

Not to mention the anonymous nature could make it relatively easy for anyone who wants to break their rules, to break them.

Rule #3: The Sustainability of Bitcoin’s Advantages are Questionable

Bitcoin or other cryptocurrencies are frequently said to have some of the following benefits:

• Low Transaction Costs
• Easier Cross Border Transactions
• Anonymity
• Limited Supply
• No Government Control

The low transaction cost makes some sense. American Express, Visa, and MasterCard are all large companies because the credit card business is extremely profitable. Then there are the fees that banks and other providers make on top of the fees generated by the credit card companies themselves.

The most obvious question is will these institutions cut fees to compete with Bitcoin and cryptocurrencies? Probably not a near term, but competing on fees is a possibility.

The other question we should as is what do you get for those fees? Do they protect you from fraud and other risks enough to justify that fee? When stories of Bitcoin being stolen from electronic wallets appear - it is clear there is little recourse. When fraudulent charges show up on my cards - it might take some effort but they have been reversed.