When you ask anyone about Bitcoin, their eyes tend to glass over. It’s a concept that my generation don’t seem to understand. Sure we’ve seen the highs and lows, on the news, and we also know that early adopters made fortunes.
What we want to know is how we get in on the action?
What Is Bitcoin?
Bitcoin was designed as a Cryptocurrency. It is a standalone decentralized digital currency. There is no head figure, and the currency cannot be manipulated, like fiat currencies have been. There is no inflation, so your money is not eroded and devalued.
The currency can be sent or received on the Bitcoin peer to peer network, without the fees and encumbrances of a middle man.
The initial release of Bitcoin started on the 9th January 2009, by founder Satoshi Nakamoto. The idea is that just 21 million Bitcoins enter circulation. Due to the limited number, scarcity occurs, increasing the value over time. Unlike the pound or dollar, and certainly during this Covid 19 pandemic, (where governments are printing fiat currency) the currency will retain value.
It’s laughable when we look back through time. Money has taken many forms. Shells, salt and tulip bulbs have all been used as money. Quite simply, money is what people want, and trust it to be. The notes in your purse or wallet, are just pieces of printed paper, backed by a belief system. Unfortunately, the belief system is waning, and people are getting annoyed by successive governments, robbing them.
Why Is Cryptocurrency Important
Over the last few years, Bitcoin and crypto in general has been slated by business owners, banks and governments. Believe it or not, this bad press has been a rouse to throw the average man off the scent. Amazon, Citibank, Wells Fargo and just about every other financial institution, is either using, trading or developing their own crypto currencies.
You guessed it, if they get in first, they make all the money. Unfortunately these businesses and banks cannot manipulate crypto for their own gain. They can just get in first.
That leads us onto an event coming up later this month, that you need to know about. This is your opportunity to make a life changing income, over the next 18 months.
Bitcoin Halving or Reserve Split
At some point in mid May 2020, the quantity of Bitcoin, available to be mined and enter circulation, will be halved. This happens every 210,000 blocks, or every 4 years. From this point onward’s, it’ll be twice as difficult to mine Bitcoin. Many miners will be put out of business, as the cost to mine outweighs the reward.
This event has happened twice previously, in 2012 and 2016, lets see what happened to the Bitcoin price after each previous halving:
Quite rightly, there’s significant excitement within crypto circles. It seems the same opportunity for growth is just a week or two away.
The exciting thing, is that the banks know that the dollar is finished. That’s why you can no longer get any interest on a bank account. Its because the currency is worthless, and the banks will no longer reward customers that have it.
To that end, where are the banks and big businesses putting their money? In gold and crypto currencies. If it’s good enough for them, it’s good enough for us.
How To Get Started
The easiest way to buy Crypto is with a company called Coinbase. You can open an account for free, it’s really easy. Coinbase have the more popular crypto currencies, which are expected to survive the long term.
You can deposit with a bank transfer or a credit or debit card. You’ll need to add a bank account later, for when you wish to withdraw. It’s just like opening a bookmaker account, but more secure.
If Bitcoin increases in price due to halving, the other correlated crypto currencies also increase in value too. I have added an image below of smaller crypto’s in my portfolio.
I’m actually funding my speculation with my matched betting income, so it’s risk free (other than time). As this is a speculation, then don’t bet the farm. A start bank from £100 to £500 should be ideal to take advantage of this incredible opportunity.
I recommend that you split your stake amongst a number of the available crypto currencies. Some currencies won’t be winners, but the ones that do make it, will offset the losers, and then some.
What Can I Expect?
Although I can’t predict the future, nor am I regulated to offer advice, I think we should consider the following:
- The start of 2013 Bitcoin was $13.50 per coin. Analysts expect $100,000 per coin this year.
- How long can the fed keep printing money?
- As stock markets collapse, where’s the money going?
- Why are the banks working on their own crypto currencies?
I think that over the next 18 months, that some coins will increase 100 fold or more. I’m adding to my investments daily, and if you do your research, you may wish to invest or speculate too.
When Bitcoin launched, I though it was a fad. Having understood a little more, It’s becoming a haven for informed money. The Sage of Omaha, Warren Buffet famously derided crypto currency. Ironically, his company Berkshire Hathaway owns a 10% stake in Bank Wells Fargo. Guess what, Wells Fargo is heavily involved in crypto currency.
Morgan Stanley, Citibank and even the Bank of England are considering their own crypto’s. The research is out there, don’t just take my word for it.
Just Do It!
So you’ve got a week to ten days to get involved, in what could be another life changing opportunity. Do you let it pass, or take a chance. Remember just £100 or so will get you going. Chances are, you’ve lost at least that amount or more off your pension or investment accounts already, due to the crash.
What if you only made ten, twenty or fifty grand from your small investment. What if you break even. Is it worth a chance? Only you can make that decision. I would recommend that you at least do a little checking online. You’ll see the facts for yourself!
I’m no expert at all on such matters, but this is an opportunity that should make you sit up, and seriously consider the facts. This post is simply a heads up. Whatever you make in your account, is all yours to keep, and you control your deposits, withdrawals and crypto choices.
Hopefully, you’ll do well, and if you come along for the ride, why not leave a comment below and let me know. Coinbase can be found HERE!