Betting on Bitcoin
So, it's probably one of the most unexciting times to talk about or get into Bitcoin. And yes, for trading, now is probably not a great time to jump in.
Others say, it's a bad idea, period. Take for instance, Mr. Warren Buffet. He called Bitcoin "rat poison" two years ago. Now, he calls it "rat poison squared."
Even those who love Bitcoin, like Mr. Tone Vays (a well known Bitcoin vlogger) believes that we're in a bear market for Bitcoin and he believes it is quite possible that the bear market will drag on for a while.
But, for me, I think Bitcoin is a great bet, period. It's price is somewhere in the PHP400,000 (USD7,500) mark. The world is far from truly understanding the impact and potential of Bitcoin. And, I am referring only to Bitcoin. I am not talking about cryptocurrencies or about the love affair the business world is having with the idea that blockchain is as big as the internet.
I do not believe that crypto currencies in general are good. Altcoins, I believe, are a magnet for scammers. If anything, crypto currencies are damaging to Bitcoin's image. In terms of being usable, no other altcoin holds a candle to Bitcoin - something that will play out and become very clear over the next ten years.
I read heard one Chinese Bitcoin trader claim that one Bitcoin will soon be worth one home in Beijing. I think he's right and it's so hard to explain so for now, I just tell people that I'm betting on Bitcoin, just like I would say, i'm betting on the Golden State Warriors. But, only for convenience. I have way more than just my gut telling me the Bitcoin is a force of nature and if I liken it to a person, it's only just taken its first breath. It hasn't gotten to work yet.
Others say, it's a bad idea, period. Take for instance, Mr. Warren Buffet. He called Bitcoin "rat poison" two years ago. Now, he calls it "rat poison squared."
Even those who love Bitcoin, like Mr. Tone Vays (a well known Bitcoin vlogger) believes that we're in a bear market for Bitcoin and he believes it is quite possible that the bear market will drag on for a while.
But, for me, I think Bitcoin is a great bet, period. It's price is somewhere in the PHP400,000 (USD7,500) mark. The world is far from truly understanding the impact and potential of Bitcoin. And, I am referring only to Bitcoin. I am not talking about cryptocurrencies or about the love affair the business world is having with the idea that blockchain is as big as the internet.
I do not believe that crypto currencies in general are good. Altcoins, I believe, are a magnet for scammers. If anything, crypto currencies are damaging to Bitcoin's image. In terms of being usable, no other altcoin holds a candle to Bitcoin - something that will play out and become very clear over the next ten years.
I read heard one Chinese Bitcoin trader claim that one Bitcoin will soon be worth one home in Beijing. I think he's right and it's so hard to explain so for now, I just tell people that I'm betting on Bitcoin, just like I would say, i'm betting on the Golden State Warriors. But, only for convenience. I have way more than just my gut telling me the Bitcoin is a force of nature and if I liken it to a person, it's only just taken its first breath. It hasn't gotten to work yet.
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