Why You Might Want to Hold Bitcoin
You like innovative ideas
Holding Bitcoin or Ethereum gives you access to a diverse field of investments. It’s like having funds available in a stock broker’s account, except it’s your own account and without the high trading fees.
There is no shortage of projects to invest your Bitcoin or Ethereum in. Here are a couple projects that I think are interesting.
Choon — A music streaming service and digital payments ecosystem
Tezos – A blockchain that has a self governance model based on the token holders – who are rewarded for staking their tokens.
https://tezos.com/
You don’t trust the government with money
If you’ve stored your Bitcoin in a hardware wallet and made ample backups then you don’t need to be concerned with loss through mismanagement or currency debasement. Unlike government money, the supply of Bitcoin is controlled by the network and there’s a predictable flow of bitcoins entering the economy.
Over the past ten years Bitcoin has performed extremely well, even with all the volatility.
You value social experimentation
Bitcoin and other cryptocurrencies are experiments in game theory. Becoming part of the experiment gives you first hand experiences and a better understanding of complex subjects like maths, computer science, open source software, global economics and monetary policy.
If you’re interested in how the Bitcoin network works I highly recommend reading this easy-to-follow article:
https://hackernoon.com/bitcoin-miners-beware-invalid-blocks-need-not-apply-51c293ee278b
If you’re ready to buy check out my How to Buy and Store Bitcoin (for Australians) article.
