For the purpose of general understanding, this article is made as simple as possible for the understanding of everyone. This article is expected to cause a financial shift for as many as possible, so I encourage you to give attention and thought to it.
I am sure that technology must have played an important role in the medium through which you are getting or accessing this message. If you have an email and feel that an email is to some extent important in this age and time, then this article should be of interest to you.
There is no doubt that we are in the era of technology, and it is cutting across many spheres of our lives. We have seen the tremendous improvements in the financial sector with great changes in the banking industry courtesy of technology. The new concept now is the wave of change that is disrupting and changing what the world knows and sees as money.
*General Concepts (Wikipedia)*
A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hash pointer as a link to a previous block, a timestamp and transaction data.
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.
Bitcoin is a currency birthed from blockchain and cryptocurrency concepts.
Bitcoin is an international digital currency that is presently accepted globally for various transactions. This is a new form of money created on the basis of a program code. Bitcoin is not owned or regulated by any state, government, bank, company or individual.
Due to this, bitcoin has become the world’s first decentralized means of payment not regulated by anyone. It is stored in an encrypted secure wallet and you become your own bank. It is used directly between two individuals anywhere in the world (instant peer to peer transfer without going through a third party).
Its growth is purely based on people understanding its good benefits and its acceptability by people globally which results to its demand and supply. The value continues to increase as more people and countries globally are accepting it as a legal store of value, understanding its benefits and using it.
Bitcoin is now the highest currency in the world even more expensive than Gold. Its value is currently above $3,500 and still surging up.
Bitcoin is considered as the first and major cryptocurrency while others are somewhat considered as alternate coins(altcoins). It may not be surprising that a lot of people still do not know what bitcoins and other over 800 cryptocurrencies are.
*Bitcoin Price History*
Since the inception of bitcoin, the acceptance and awareness has been the major drivers of the price. The yearly price summary since 2010 is as follows:
2013: $350 — $1,242,
2014: $750 — $1,000,
2015: $395 — $504,
2016: $600 — $780,
September 2017: $5000
The price of bitcoin is currently still very volatile because of the numerous internal and external factors surrounding it. The daily or weekly price movement may be of great concern to anyone new to it (that’s really not much of a concern to an investor as it is to a daily trader).
Imagine someone who bought 1 bitcoin in 2015 at the price of $504 and leaves it (without trading it) up until this moment. Judging from the current price which is $4224, it means a whooping $3,720 return on investment.
The price of 1 bitcoin at its lowest point since 2017 was $775.18 on January 12, the highest point so far has been $4905.68 on September 2 that is a 532.844% increase and $4130.5 price difference.
*Note:* It is not a must that you have to own 1 bitcoin, you can own as low 1/1000 or 0.001 bitcoin.
The uses and opportunities that bitcoin and blockchain technology present is endless. It has found great use in international funds transfer as it can easily be transferred across borders and exchanged into fiat money easily. We cannot deny the fact that it is currently a better store of value than most fiat currencies. Its greatness as an investment vehicle cannot be overemphasized.
I cannot fail to mention that bitcoin, is greatly anonymous and can hide great deal of financial information that we do not want the government or banks to know about.
If you are up to 18 years, I think you should have started thinking about retirement, and saving towards it; some of us would have appreciated if someone gave us this kind of advice when we were younger, but it is never too late to start. In my humble opinion, saving in fiat money will come with more depreciation over the next couple of years than saving through bitcoins or other cryptocurrencies; but then it is only an opinion.
For the older generation, it may be the best gift or preparation that you can do for the new generation aside education and good moral standards.
As every individual sees and analyses things differently, you can agree or disagree with some of the aforementioned opportunities or uses. You may also know or have more areas that I may have overlooked, I would like to hear them via mail or the comment section on my website.
*What I can do for you*
Today may not be 2010 or 2011, but it is a great time to start so that in the next couple of years others will be wishing they started when you started. We may consider some people lucky for having started early but now is another great time.
Bitcoin may be quite technical to so many people, that is why I’m here to answer your questions that must have taken it’s roots from your perspective, be it religious, political, financial, technical etc.
If you have interest or own bitcoins I can buy from you or supply you any amount or quantity of bitcoins, you can contact me via my email, phone or social profiles.
*Guarantees and Disclaimer*
I am guaranteeing that the information that I have provided is true and verifiable, the numbers are based on the values obtained at the time of writing.
I can guarantee other things that you want guaranteed only when you contact me. You can make your decisions and take actions based on the information that you have received, I also encourage you to ‘do your own research’…
If you would like someone to benefit from this article, you can send the person to the following link: http://ebuka.mbanusi.com/digital-gold