If you’re reading this and you currently don’t know or haven’t heard of bitcoin, crypto-currencies and the block chain network then consider yourself lucky that you’ve stumbled across this piece. At first you might skip this article once you read the word crypto-currency or block chain network, but if you hear me out and further research what these applications and ideas plan to offer in the upcoming future then reading this will be one of the greatest learning curves and opportunity to make insane returns that you wouldn’t think possible. I’ve only been in this market for the past 2 months now but it still mind boggles me, so let me do my best to convince you to take a chance.
Before I start I should say this isn’t an explanation on how to get started on buying or getting into the crypto market. There are much better resources for that such as youtuber’s, reddit forms and other websites. What I am going to attempt is to convince the unsure, so let’s start with those ‘’insane’’ returns I was talking about earlier. If you’re familiar with investing in the stock exchanges then you’ll know that a 5-7% yearly return is solid return on your investment, so how does bitcoin compare to this? Well if you brought 1 bitcoin at $704usd one year ago exactly (November 7, 2017 currently priced at $7,380usd) then you would have made an incredible 950% on your investment. Your first thought may be its too late now, you’ve already missed the bus, but this is so impossibly wrong. If you take the total market cap at the date of this article (122.7b) and put that into perspective how much money is currently circulating in the world (stock market has around 70-80 trillion and the global money supply being worth 90trillion) you soon realize that this is only the beginning and the room for growth is still very large. Let’s use a hypothetical to explain the potential price of bitcoin, let’s say bitcoin slowly gets adopted over time and eventually has 10% of the world’s money supply and stock exchange, around 16-17trillion dollars. That’s a 13,000% increase in the market cap giving one bitcoin a price of $97,500usd.
Let’s move onto the next issue most people come across, not being “tech-savy” enough to understand it. This is easily countered by simple not needing to know the ins and outs of how it works (block chain network) with today’s society and digital currencies the most important aspect is trust. I can assure you majority of people don’t know the ins and outs of fiat currencies( usd, yen, euro, ect) and considering we currently trust the governments and federal reverse’s the important job of regulating and upkeep of the worlds currency even though time after time they have shown us that they’re not capable of doing so, ie. The great depression in the early 1900’s and the recent housing bubble in 2008 just to name two, but there has been countless of other times when the big banks have stuffed up and the government and us as the people have continued to back them because there wasn’t really a choice, until now.
Finally, my last point and another great aspect of bitcoin is that it’s fractional. You may have had the thought “I don’t have a spare $7000 to investment”, well in fact it doesn’t matter how much you have. You can start off investing $100 or $1000, any number you like and you will get the respected fraction of 1 bitcoin. E.g. $100 at today’s prices will get you 0.01357 of a bitcoin.
To sum up there’s no need to rush into things; you don’t need to sell off your house and other investments to buy up as much bitcoin as you can because this will take time, bitcoin isn’t going to grow 13,000% in a day, week, month or even year. My suggestion to you is to continue researching, keep up to date with price and market cap of bitcoin until you gain trust in the system because there is a lot to learn. In a few weeks or months’ time you might be ready to investment. The most important thing to take from this article is that bitcoin and crypto-currencies are growing insanely fast whether you’re in for the ride or not and if you ask me the chance of losing 5-10% of your income on a promising investment doesn’t come close to outweighing the possibilities to where this can go.
