I Drank The Bitcoin Kool-Aid

Few topics bring up a good dinner talk with friends these days like that of bitcoin (BTC-USD). With people of all backgrounds discussing the ever-popular cryptocurrency, simply mentioning its name is bound to get a barrage of views from all sorts of people. Its price movements and behind-the-scenes drama continue to parade across the news wires with all sorts of speculation as per who its founder is as well as where price will be headed anywhere from tomorrow to 50 years from now.

Before jumping into any sort of analysis regarding bitcoin, we need to get one thing straight: bitcoin is not an investment. Bitcoin is 100% speculation, plain and simple. Investment is the process by which one seeks to identify opportunities in which the market has mispriced something and then tactically deploy capital to capture these opportunities. To invest, you have to know both the market price and have an idea as per intrinsic value that is rooted in something beyond conjecture and opinion. Here's what I mean:

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