Bucks for Bitcoins?

The stock market is up and down quickly again. Should we just give up on investing in companies and go the way of bitcoins that has been pretty popular currency these days? What country does it come from? No particular country. What bank should I put bitcoins in? You can’t. Is bitcoins heavy like gold bars? You can’t hold them. What the hell is a bitcoin? Yet if you invested just $100 in bitcoins   8 years ago, your coin stash would be worth over $10 million dollars today. Where do I go to get some? No particular location. HUH?

We have to learn more about bitcoins. Just seek out the goings on at the WCEF, the World Crypto Economic Forum for some insight into what ever bitcoins are. They call it digital currency. In fact in the San Francisco Bay Area the WCEF has a conference planned called Bitcoin for Beginners to be held March 10-25, 2018.  There you can learn for a $395 fee.

But what if I don’t want to pay just to learn   what bitcoins are and why do I have to pay CASH to learn if it is a form of currency? The rapper 50cent who once declared bankruptcy made money again by asking people to pay for his album in 2014 by using Bitcoin and today that money is worth over $6 million dollars.  

Right now Bitcoin is the most popular cryptocurrency. It is a digital currency that you could use like cash. Unlike any other form of currency it is not backed by any government, bank and you can’t even carry it in your pocket. It is used solely online. You can use it to get a Hotel room on Expedia or buy furniture on Overstock. Is Bitcoin all just hype and what is it really worth from day to day? In 2009 it was created by  Satoshi Nakamoto  who no one even knows if it is a man or woman. Every time you use your Bitcoin it is recorded in a transaction ledger called a Blockchain.  It is used often now. Once it was used to just buy drugs and other illicit items on the web through a site called Silk Road the anonymous marketplace. That site was shut down by the FBI but they seized over 173,000 Bitcoins worth $1.5   Billion dollars today.

The main issue with using Bitcoins is that the value can fluctuate wildly. In just a few hours the value of a Bitcoin could fluctuate by 25%. Is that any different from the stock market lately? In large safe countries we can trust in our government backing up the value of our dollar but if you live in a place like Venesuela where there is no safe government, you can’t even trust your money there. Then Bitcoin is a better bet for your assets. Sometimes I think a shoebox or hiding your money somewhere is the best bet. Sigh!