Is bitcoin still a good buy

The Nasdaq and Chicago Mercantile Exchange plan to let investors trade bitcoin futures , which may attract more professional investors. Bitcoin How to Buy Bitcoin. Step Two: Connect a Bank Account. But the transaction can take significantly longer. The drawback is that on Coinbase and other popular exchanges, debit cards can only be used to purchase crypto—and even then, only in smaller amounts.

Forget the bubble talk and gear up for a major surprise

To save money he lived in his car in Venice Beach, Calif. He accumulated a good deal of coins through his mining. Needless to say, he no longer needs to live in his car. Eccentric in that gloriously liberated, analytical, and creative style of Steve Jobs. Such visionaries can see and create value out of. It’s one of the stjll characteristics of the original bitcoin community. After a fold appreciation, much has changed in the cryptocurrency world.

Why Invest in Bitcoin?

O ne of the questions I am asked on a daily basis on Quora is whether Bitcoin is still a good investment for the year ? In the last 2 weeks, we saw an abrupt correction all across the cryptocurrency board as a series of regulatory measures were deployed by the government and banks. It is now apparent that the latest downswing was just a major correction taking place. Wall Street strategist Tom Lee forewarned back in December that it was bound to happen. Fundstrats Tom Lee to Bloomberg. Back then the World Wide Web had only a total of websites in the entire world.

What is happening?

O ne of the questions I am asked on a daily basis on Quora is whether Bitcoin is still a good investment for the year ? In the last 2 weeks, we saw an abrupt correction all across the cryptocurrency board as a series of regulatory measures were deployed by the government and banks.

It is now apparent that the latest downswing was just a major correction taking place. Wall Street strategist Tom Lee forewarned back in December that it bitcion bound to happen. Fundstrats Tom Lee to Bloomberg. Back then the World Wide Web had only a total of websites in the entire world.

If you still fail to see what the whole gold with Bitcoin is, then watch this video:. This video was the reason why I got into Bitcoin in the first place. A whole new world of possibilities started emerging as I delve deeper into this revolutionary technology. Bitcoin is also not a Get Rich Quick Scheme. The whole mushrooming industry started around it simply because of the notion that Bitcoin could decentralize our entire banking.

So what does it mean to actually invest in Bitcoin? Are you buying it in hopes that one day it will appreciate in value? Are you just looking to day trade to profit from its extreme volatility, or are you simply looking to invest in the technology behind Bitcoin which is Blockchain? This is one of the oldest Bitcoin investing concepts that spread like wild fire. It all bifcoin when a forum member on Bitcointalk.

Unlike trading in Bitcoin whereby it is held for a short duration of time and then sold at a higher price, hodling as it is more popularly known involves buying fungible Bitcoins and then keeping it for an extended period of time.

It was also used prominently as a currency to purchase illegal drugs and pornographic material on Silk Road and Utopia. Then to add salt to the wound, Flexcoin a Bitcoin bank announced that its entire user database vanished into thin air.

Bitcoin was practically dead in the water. No one bitckin it could survive all those pitfalls, after all the technology was still is bitcoin still a good buy its infancy. Biycoin, something good did arise from the ashes of defeat; a group of people remained loyal and more convinced than ever that Bitcoin would still be the future of a one global Decentralized financial currency. They stayed on despite all the bad publicity on the mass media. So if you were thinking that the latest major crash is harsh, think what happened a few years back and vitcoin each obstacle made these group of people even more fervent and loyal for Bitcoin.

Dollar is virtually worthless. This comes from some of the worst inflations in history like the Zimbabwean dollars or the German Marks. Both currencies were not backed by any gold or silver and they were printed until they literally lost all of its original value.

The German Marks for example lost Why ? And ever since that pivotal point in our monetary history, banks all over the world have followed this exact same model of the Fractional Reserve Banking. Why do buh think there are so many powerful people against the idea of Bitcoin? They instead choose to support the technology behind Bitcoin which is Blockchain.

Bitcoin on the other hand does not require any central authority to govern bjy. No one central authority can print out as many Bitcoins as they like, or to electronically duplicate and add more zeros. It does not need a central figure like a bank to verify whether a transaction is valid or invalid because it has cryptography built-in to secure the code.

No one can ever hack into the Bitcoin code. Now just imagine a central place like a bank holding all the money in the world, would they become a target for crooks? Yes they certainly. Heck, banks get robbed all the time. The whole idea of decentralization is to be your own bank, store your Bitcoins in your own Hardware wallet like a Ledger Nano S.

So at the end of the day, limited supply and limitless demand accelerates the price of Bitcoin. HODLing goood the cap limit of 21million continue to keep the supply low and that in turn drives up the value of Bitcoins in the long run. At the moment, the Fear, Uncertainty and Doubt perpetuated by the mass media are just playing into the hands of financial institutions around the world.

In the U. However, there are certain countries like Switzerland, Hong Kong and Singapore which offers zero tax on long term capital gains. Short and long term holding of Bitcoins is determined by the length of time which you keep and the frequency of your trades. The U. S Dollar will eventually spiral out of control and suffer high rates of inflation. This is guaranteed because of the current spending habits and debt.

This is the real bubble waiting to explode. Not Bitcoin. And when it happens, hyperinflation will make any dollar you hold practically worthless. We can see this time and time again throughout history. Hyperbitcoinization could lead to a mass adoption of Bitcoin and become the de facto currency of the future. Countries like Japan havecompletely embracedBitcoin as a legal payment method.

That is a pretty smart. If your U. Dollar rises in value today, do you pay taxes on goox Even if they tried to tax the profits you made out of Bitcoin, hyperinflation would have made the dollars worthless. Having said all of that, I must assert that buying Bitcoin as well as other cryptocurrencies is very risky and should not be taken lightly. Using a credit card or a mortgage loan just to buy and profit from Bitcoin is highly irresponsible to you and your family.

Only invest in what you can afford to lose. Start reading and educating yourself about Bitcoin todayread the book written by Andreas Antonopoulos called the Internet of Money.

Watch his videos on Youtube and I can guarantee you it will open and change your mind.

WARNING: The Truth About Bitcoin

Coinbase Pro charges fees ranging from 0. Bitcoin serves as a new kind of currency for the digital era. At its most basic level, blockchain is bitcoin still a good buy literally a chain of blocks—only bitclin in the traditional sense of those words. Related Terms Bitcoin Definition Bitcoin is a digital or virtual currency created in that uses peer-to-peer technology to facilitate instant payments. Any such advice should be sought independently of visiting Buy Bitcoin Worldwide. These networks often consist of thousands or in the case of bitcoin, about 5 million computers spread across the globe. But the transaction can bltcoin significantly longer. Read more about the Ledger Nano X. SmartAsset Paid Partner. As with any market, nothing is for sure.