Tencent Technology News CNBC technology products editor Todd Haselton published a column describing his personal experience of buying Bitcoin last weekend.

Haselton introduced in the article that Bitcoin fluctuates greatly, and buyers are completely confused about the logic behind it. In fact, this rise and fall is driven almost entirely by money from buyers and sellers.

Interestingly, when Haselton purchased Bitcoin, his bank even thought he had been defrauded and temporarily froze his account.

Although he believes that Bitcoin is completely gambling and has no investment attributes, he also admits that the buying and selling process is very convenient and the handling fees are very low, which has attracted many investors to participate.

But Haselton still said that he would not participate in buying Bitcoin again.

The following is the original content:

I bought 200 US dollars in Bitcoin last Friday in order to write an article "How to use Bitcoin as a holiday gift".

I held it for a weekend to see what it was like to hold Bitcoin. The following is my experience.

The fluctuations are too crazy

If you have ever bought Bitcoin, you should know this feeling, but if you have not, I can tell you: the fluctuations of Bitcoin are simply jumping up and down. After buying $200 in Bitcoin, my currency value dropped to $191. It continued to fall over the weekend and did not rebound back to the original $200 until Monday.

The bank thought I was being defrauded

When I first purchased Bitcoin through Coinbase, my bank thought I was being defrauded and froze my account. I had to call the bank and confirm the transaction before I could buy again. In addition, I also heard from friends in the editorial office that the Coinbase system has been overloaded several times, which may make it impossible to buy at low prices. In a message to users, Coinbase stated that they had resolved the issue.

It feels like gambling, not investing

If you look for a newspaper, or watch CNBC, you can often figure out why a company's stock or global currencies are rising or falling. It may be that a new CEO is appointed, there may be a war, there may be problems with the government, it may be a scandal, or the financial report is good or bad, or even a new competitor appears. You can learn, step by step, the reasons behind a stock's movement.

This is not the case with Bitcoin. It feels like standing in front of a roulette table. Its rise and fall are entirely due to the buying and selling of other people. I'm sure others understand it better than I do, but I feel like a lot of people actually have no clue and are just buying Bitcoin to "get rich overnight." In that case, why don't you buy it? Someone bought it when it exceeded $3,000 in June this year and has already made 5 times the profit.

I also suspect that some people are longing Bitcoin because they have a lot of positions in their hands, maybe they bought it when the price was very low, and they hope that the price will continue to soar.

It’s easy to buy and sell

Buying and selling Bitcoin is really easy, as I’ve explained in previous articles, and the fees for buying through apps like Coinbase are low. That's probably one of the reasons it's so appealing. It only takes a few seconds to enter your buying amount and you can sell at any time. I also sold Bitcoin on Monday morning. It fell to $166 over the weekend, and then rose back to $200 on Monday because of the news about Bitcoin futures.

I will not buy it again

I am not going to buy Bitcoin anymore. The reasons are as follows: First, my task is to write articles about Bitcoin, so apart from writing an article on how to buy Bitcoin personally, I am not suitable for holding too many positions. Also, I don’t like the feeling of being down $2,000 one moment and then up $5,000 the next. It might give you the same adrenaline rush as being in Vegas, but for me, the stakes were just too high.

(Compilation/Long Song)