Posts: 33
Joined: Tue Jun 13, 2017 11:34 am

In 10 years, you will wish you invested in cryptocurrency

Sat Jul 01, 2017 9:16 am

Why Bitcoin Is Better Than Any Other Commodity

Why would someone looking for an alternative to government-issued currency not buy gold instead?

There are a few reasons. First, gold isn't very fungible -- that is, it isn't easy to use as a replacement for cash in order to buy goods or services. Secondly, it isn't very portable. Gold is heavy, even in small amounts.

But there are issues with safety and anonymity too. Gold is only truly secure when it's locked away, preventing the owner from easily using it. On the other hand, you could easily carry millions of Bitcoin on a thumb drive with nobody the wiser.

But that doesn't mean Bitcoin is intangible. In many ways, Bitcoin is just as tangible as gold. The cryptocurrency was created from unchangeable mathematical rules. And backing that math up is "triple entry" bookkeeping that retains debits and credits while adding simultaneous verifications for each transaction recorded by the blockchain.

This makes Bitcoin safer and easier to use than gold.

But Cryptocurrencies Are Still Speculative

While millions of profits will be generated on cryptocurrencies, investors must treat them as speculative investments. It's important to remember that a little bit of money goes a long way here.

While I don't agree with analysts who believe Bitcoin is going to $250,000 or the incredulous $500,000 by 2025, the odds of Bitcoin going to, say, $15,000 are very real. That makes it well worth taking on some risk in a speculative environment.

After all, if you have any hope of spending you leisure time doing things not yet invented, you're going to need some money on a thumb drive.

Source: Nasdaq

Posts: 14
Joined: Thu Jun 29, 2017 5:59 am

Re: In 10 years, you will wish you invested in cryptocurrency

Sat Jul 01, 2017 9:19 am

So, let's invest just now :P

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