Why Bitcoin and Cryptocurrency is the future and no one (including China) can stop it...
Imagine if I told you I had a time machine and I can take you back to 1990 to invest in internet stocks and companies! The good news is, you don't need a time machine for the next tech / financial investment opportunity of a lifetime.
We are at about the same stage right now in the crypto world as we were about 30 years ago with the internet. Very few people understand it and even fewer people are invested in Bitcoin, Ethereum and other blockchain opportunities such as ICO's.
Even though bitcoin hit $5000 in August of 2017 and fell back to about $3200 after
news that China is in the process of severely restricting Bitcoin trading (part of their efforts to stem capital flight from China) I think we are still in the very early stages of this market and have a long way to go. Bitcoin recently bounced back to $4000 which shows how much more resilient it is then in the past. Especially given the fact that a very large country like China is effectively attempting to ban Bitcoin.
For those who attempt to ban Bitcoin... As SpongeBob would say... "Good luck with that!" You will be left behind. Some governments attempt to rule by fear and control. This is not the way to a better future. Freedom and opportunity is.
And yes, some governments & financial institutions should be scared. This has the very real risk of giving power back to the people and out of the hands of corrupt banks. Imagine sending your funds within minutes to anyone in the world without have to wait days for a wire transfer or pay high banking fees.
If you lived in Venezuela and put most of your savings in Bitcoin before their major currency devaluation, not only would you had preserved your wealth, you would have had incredible gains as well. Bitcoin is an incredible tool against corrupt and incompetent governments who put their citizens wealth (and lives) at risk.
How is it in this day and age that a foreign check can take weeks to clear a bank and even wire transfers can take days? This is totally unacceptable. Until now, every financial transaction outside of cash needed to have a 3rd party to conduct the transaction (Such as banks, Western Union, Paypal, etc...)
Bitcoin is truly putting power back into the hands of the people and out of the greedy bankers. As with many industries, you innovate or you die. These dinosaur banking institutions are about to get a well deserved "SWIFT" kick in the teeth...
The good news is, most governments are not so short sighted and will legalize Bitcoin and regulate it. They know it cannot be stopped since it is completely decentralized. Their is no server to seize, no office to shut down. They would literally have to shut down the internet...
But if you want to invest in Bitcoin or other crypto vehicles, you must be able accept high risk and volatility. This is just the nature of this young market. I would suggest investing a small portion in crypto-assets (5-10% of your assets or whatever risk will let you sleep at night) Consider it a "high risk / high reward" investment. Here are some Bitcoin sites to help you get your feet wet.
Approximate valuations as 2017
Some reasons why I think we still in the early stages of this market.
- Market cap of all crypto currencies today is at $136 Billion (less then the value of Apple) https://coinmarketcap.com Even Bill Gates has a higher net worth of $86 Billion then the total valuation of Bitcoin at $66 Billion.
- There will only ever be 21 million Bitcoins in circulation. A limited supply and greater demand will drive up the price over time.
- How many people own Bitcoin? - Very few people own bitcoin or other cypto's. Current projections are under 10 million owners. And last time I checked, we have 7.5 Billion humans on this beautiful globe. If Bitcoin ownership goes up this also will drive price MUCH higher.
- Total value of all gold is about $8.2 Trillion, so when the market cap of Bitcoin catches up to this number, Bitcoin will have increased to about 124x more then its current price, 1 Bitcoin will be worth $496,000!
Interestingly enough, John McAfee (one of the most interesting and controversial men on the planet) has predicted that Bitcoin will hit $500,000 in 3 years or he will eat ... ummm... you really don't want to know... but in case you do, here is his strange Twitter "commitment" click here.
Bill Gates "NOBODY CAN STOP BITCOIN | Bitcoin Is Unstoppable"
Also keep in mind:
- Over 2.5 billion people in the world do not have bank accounts. With bitcoin, you are your "own bank"... If done right, it can be anonymous, unseizable and secure. Privacy of your finances is a right for every citizen on the planet.
- And should a major currency fail, Bitcoin may very skyrocket far beyond the above projections. Most major governments are in extreme debt and interest rates are near zero. When interest rates rise, their will come a day of reckoning for governments irresponsible spending and waste. How will you protect your savings?
- The National debt of the USA is over $29 Trillion dollars. Do not go to this website if you are about to go to sleep... http://www.usdebtclock.org/ It is far scarier then the "IT" movie!
Bitcoin and other cryptocurrencies can also allow the poorest in the world to conduct business more efficiently, help them get out of extreme poverty and become more financially self-sufficient.
2 Great Bitcoin apps for the iPhone and Android phones that I like are Copay and Breadwallet. I would not recommend keeping a large amount on any online service due to the risk of hacks or other security vulnerabilities. The safest way to store a significant amounts would be to use "cold storage".
You can buy Bitcoin easily here without paperwork / or much hassle.
Learn about it and play with a small amount at first to get comfortable with it. Do not let fear of the unknown hold you back. At the very least you will see the value in this amazing technology on your start using it. I promise it will be very obvious to you why this is the future...
"First they ignore you, then they laugh at you, then they fight you, then you win."