Bitcoin: Look, but don’t touch?
It’s been one giant step Bitcoin this month.
Everyone’s now watching, yet only few have planted their flag on this new planet of crypto currencies.
Bitcoin isn’t alone. There are now hundreds of alternate digital coins (known as alt-coins) to be invested in, along with a myriad of new coins being birthed from Initial Coin Offerings (ICO’s), a ‘Kickstarter’ like crowd funding model.
But is are we pressing onto a bubble anytime soon? Or is it only the beginning of the blockchain revolution? That is the question, many are asking.
One thing is clear: that the technology behind Bitcoin, the blockchain, is not going to disappear. Which opens up the next question…
Behind the noise
Here’s what you need to know: What’s happening to Bitcoins price is NOT about Bitcoin. Sure, it’s all over the news, your social feed is blowing up… along with the daily price.(#FOMO anyone?). But the real reason for it’s explosion is the future of the BLOCKCHAIN.
The Blockchain is the reason that Bitcoin is soaring, and that the cryptocurrency market cap currently exceeds $400 BILLION dollars (more than the value of Disney, Wal-Mart and VISA).
You’ve heard it said: “Invest in education instead of speculation.”
Anybody considering buying Bitcoin should at the very least learn two things:
- The history of the technology behind Bitcoin (the Blockchain)
- What lies ahead in Bitcoin’s future.
The problem is Bitcoin and the Blockchain being such incredibly new technological concepts, can be daunting to research and understand its underlying detail and potential.
There’s plenty of great articles on the web and here on Medium that explain the backstory, but that’s a rabbit hole to go down in another post. If you’re looking for a book to read on Blockchain, you can’t got past Don Tapscott’s best selling Blockchain Revolution.
Are we in the Bitcoin-bulb?
It’s easy to compare bitcoin to the Tulip craze of 1637 or the Dow Jones in 1929. We’ve seen plenty of bubbles before, even with technology — the dot com 1999 burst.
Will Bitcoin go up further? You bet!
Will there be a pullback? There has to be! Gravity will kick in.
Will Bitcoin remain the leading crypto? Likely.
Buy it, or don’t buy it — what matters is the blockchain revolution.
Blockchain is the technology that makes Bitcoin possible. I’m not a financial advisor, but I agree with other industry leaders that Blockchain is only just getting started.
Nokia didn’t see Apple coming, Sears didn’t see Amazon, and Blockbuster didn’t see Netflix. The world definitely didn’t see blockchain, but it’s here to stay and it will disrupt every industry in it’s path.
We’re at the beginning of a new technology adoption curve. Over the next few years we’ll see a massive transformation with an unprecedented speed of change.
Don’t believe so? Think about the mobile phone: 2017 marked 10 years of the iPhone. Ten years ago we didn’t have Uber, Instagram, iPads, Google Chrome — the list goes on.
Every company by 2027 will likely use Blockchain in some way.
There’s a likely chance we’re in a bubble right now. But long term, there’s plenty more growth and potential — even after a Bitcoin crash. All markets correct at some point. As Robert Kiyosaki would say ‘a crash is simply a sale — buy and hold!’.
The price will continue to be volatile (especially with the new Futures fund opening in the US next week), but if Bitcoin can remain the leader in Crypto, then its value and demand will continue to grow alongside the Blockchain.
Invest, or just watch with curiosity. The future of blockchain is fascinating either way!
If you do invest, check out this offer from Coinbase
UPDATE: Just this week Australia has announced their next version of the ASX (Australian Trading Exchange) will be powered by the blockchain.
This is just the beginning folks.