Comment by mutteraloo

They didn't know what they were buying; bits in a database. A very poorly implemented database that was

- not scalable

- not rare

- didn't have any government backing or big institutional backing in case the price dropped from 19,000 to 11,000

- easily hackable (tether, fake trades, scam exchanges, etc)

- too expensive to do a single transaction

this applies to most crytocurrency