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Rug pull scams involve investment scammers “pumping up” a new project, nonfungible token (NFT) or coin to get funding. After the scammers get the money, they disappear with it. The coding for these investments prevents people from selling the bitcoin after purchase, so investors are left with a valueless investment. Some early cryptocurrency investors believe that buying a Lamborghini is the only decent way to spend Bitcoins. When asked, “what can you buy with Bitcoin?” back in 2017, “a Lamborghini” was the answer in 90% of cases. By late 2017, Peter Saddington had purchased a Lamborghini Huracan with Bitcoin. He was famous at the time for running a YouTube channel and Bitcoin forum. The Huracan cost him 45 Bitcoins, roughly $200,000 at that time. Saddington said that the first time he heard about Bitcoin was in 2011. He bought those 45 Bitcoins for just $115, so his supercar actually cost him just over a hundred dollars.
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Bitcoin halving refers to the splitting of block rewards into half to mean that miners’ reward for discovering a block is reduced by half. Halving exists to lower Bitcoin’s inflation rate and the rate at which new Bitcoins are released into circulation, keeping the price of Bitcoin stable. The halving event happens after every 210,000 blocks have been mined, which is roughly after every four years. The number of Bitcoins in circulation is calculated by the halving theory laid out by Satoshi Nakamoto in the Bitcoin protocol. Cryptocurrency can offer investors diversification from traditional financial assets such as stocks and bonds. While there’s limited history on the price action of the crypto markets relative to stocks or bonds, so far the prices appear uncorrelated with other markets. That can make them a good source of portfolio diversification.

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