I had purchased a few bitcoins in Jan 2015. More than anything else, I wanted to experience the full life-cycle of the Bitcoin owning, storing and transferring process which everyone talked about but few knew. Freia was the one who first purchased bitcoins at Coinbase and I followed suit. She had purchased when the Bitcoin was trading at $1,000+ and so when I was able to get it at $250, I thought it was a good deal. Risky, but good.
In the last couple of years, the subject of bitcoin had come up and I've been cautiously bullish. I thought that there was a reasonable probability that the cyber currency would increase in value and had made these comments during discussions.
In the last few weeks the price of Bitcoin has sky-rocketed. I just looked and it was over $ 16,000. Earlier today morning it was at $14,013. It seems to change significantly every time you look at it.
Many of those who were part of the Bitcoin chats, now think that I know about Bitcoin. And so have 2 things to say to me. First, "Why didn't you make us buy Bitcoins?" And the second, "Should we buy Bitcoins.". The answer to the first is, Yes I did. And I said it was Risky. That hasn't changed. It's still SuperRisky.
The answer to the second is that, "I have no idea." I myself have divested 75% of what I owned at various levels, @$2,000, @6,000 and @$16,000. A few minutes prior to writing this blog.
And while I have absolutely no idea whether the Bitcoin will trade at $100,000 or at $100 or even $0.01 in a year, I do know one thing. Nobody knows. I have just 1 piece of advise, "Invest only that amount of money, which you could have thrown into the ocean. Never to be seen again". And per chance, if it does give you some returns, say a big "THANK YOU" to whichever divine force you believe in.
And before you do that, check these out. They will not tell you what to do. But at least, you'll know more about the vast ocean in which you are about to throw your money.
The origin of bitcoinhttps://bitcoin.org/en/
Bitcoin Documentary by Discovery Channel
One of the reasons for the surge in cyber-currency is the respectability that they now enjoy, By virtue of their options being traded on a few leading exchanges, starting today.
http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures
How Bitcoin Futures Will Affect Price
p.s.: And if this has been an eye opener, I do accept thank you gifts. In Bitcoins.
In the last couple of years, the subject of bitcoin had come up and I've been cautiously bullish. I thought that there was a reasonable probability that the cyber currency would increase in value and had made these comments during discussions.
In the last few weeks the price of Bitcoin has sky-rocketed. I just looked and it was over $ 16,000. Earlier today morning it was at $14,013. It seems to change significantly every time you look at it.
Many of those who were part of the Bitcoin chats, now think that I know about Bitcoin. And so have 2 things to say to me. First, "Why didn't you make us buy Bitcoins?" And the second, "Should we buy Bitcoins.". The answer to the first is, Yes I did. And I said it was Risky. That hasn't changed. It's still SuperRisky.
The answer to the second is that, "I have no idea." I myself have divested 75% of what I owned at various levels, @$2,000, @6,000 and @$16,000. A few minutes prior to writing this blog.
And while I have absolutely no idea whether the Bitcoin will trade at $100,000 or at $100 or even $0.01 in a year, I do know one thing. Nobody knows. I have just 1 piece of advise, "Invest only that amount of money, which you could have thrown into the ocean. Never to be seen again". And per chance, if it does give you some returns, say a big "THANK YOU" to whichever divine force you believe in.
And before you do that, check these out. They will not tell you what to do. But at least, you'll know more about the vast ocean in which you are about to throw your money.
The origin of bitcoinhttps://bitcoin.org/en/
Bitcoin Documentary by Discovery Channel
One of the reasons for the surge in cyber-currency is the respectability that they now enjoy, By virtue of their options being traded on a few leading exchanges, starting today.
http://cfe.cboe.com/cfe-products/xbt-cboe-bitcoin-futures
How Bitcoin Futures Will Affect Price
p.s.: And if this has been an eye opener, I do accept thank you gifts. In Bitcoins.
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