Should I invest in Bitcoin?
That being said, bitcoin is definitely worth considering.
And with bitcoin crossing the $10k threshold earlier this week, it's no wonder people think it's a bubble.
But, think about it in terms of economics. Look at supply and demand graph. We see that as supply increases, demand decreases. And as supply decreases, demand increases.
Demand is created through something called “scarcity”. Scarcity means to be in short supply.
Let’s look at scarcity, in terms of crypto.
There will only ever be 21 million bitcoins mined. In the world, there are roughly 33 million millionaires.
Even if every one of those millionaires wants a whole bitcoin, it's impossible. There are simply not enough bitcoins to go around.
Scarcity builds demand.
Now, in the United States (and other well-off countries), people don't necessarily see bitcoin as anything other than an investment. But that mindset fails to remember those who are affected by economic crises.
Consider Venezuela. They’re facing more than 4,000% of inflation. Their fiat currency is essentially useless. As of August 2015, there were about 450 companies that accepted bitcoin. In November 2016, there were more than 85,000 accepting the cryptocurrency.
That stat is a year old, and Venezuela continues to be plagued with an economic death spiral. So, the number is surely higher.
In fact, more than 100,000 miners have entered the game in the country. Bitcoin is more stable the Venezuela’s fiat, and thus is seen as a viable form of currency.
Now, we’ve seen bitcoin’s value in the eyes of the wealthy, and we've seen its value in the eyes of those in economic crises.
So to answer your question, yes. Bitcoin is worth an investment.
If you're not sure you want to invest, but want to dip your toes into mining. Give this a look see.
CoinDesk
ReplyDeleteThis is one of the top new sources for bitcoin enthusiasts. In fact, it is the largest bitcoin news media platform in the world. The site is packed with reports and tools that break down the trends and patterns in cryptocurrency. I recommend checking out the reports on the research page.
CoinDesk
ReplyDeleteThis is one of the top new sources for bitcoin enthusiasts. In fact, it is the largest bitcoin news media platform in the world. The site is packed with reports and tools that break down the trends and patterns in cryptocurrency. I recommend checking out the reports on the research page.
Recording success in cryptocurrency Bitcoin is not just buying and holding till when bitcoin sky-rocks, this has been longed abolished by intelligent traders ,mostly now that bitcoin bull is still controlling the market after successfully defended the $9000 support level once again ad this is likely to trigger a possible move towards $12000 resistance area However , it’s is best advice you find a working strategy/daily signals that works well in other to accumulate and grow a very strong portfolio ahead. I have been trading with Mr Carlos daily signals and strategy, his guidance makes trading less stressful and more profit despite the recent fluctuations. I was able to easily increase my portfolio in just 4weeks of trading with his daily signals growing my 0.9 BTC to 4.9 BTC. Mr Carlos daily signals are very accurate and yields a great positive return on investment. I really enjoy trading with him. He is available to give assistance to anyone who love crypto trading and beginners in bitcoin investment , you can contact him on WhatsApp: +14242850682 and his telegram : IEBINARYFX for inquires and profitable trading systems. Bitcoin is taking over the world
ReplyDelete