There has been a LOT of talk about Bitcoin in the streets recently and I felt left OUT of those talks. Over the last few days, I decided to TAKE action and did some research on this so called Bitcoin Phenomenon. By research I mean, I watched a documentary on Bitcoin on Netflix and I am now ALL IN on Cryptocurrency. I would be LYING to you if I told you that I understand HOW Bitcoin or cryptography in general works, but I will not by a BYSTANDER and let this phenomenon pass me.
From what I UNDERSTAND, again through the documentary titled, “Banking on Bitcoin” on Netflix, that cryptocurrency is the currency of the FUTURE and takes away the CENTRALIZED banks. Bitcoin is a form of cryptocurrency, the same way American Dollars is a form of currency. Experts believe that in a few years Bitcoin will be the MAIN form of currency in the World and we should ALL invest in it.
BUYING AND SELLING Bitcoin is similar to the Stock Market in which you can BUY percentage points of a STOCK. You can BUY a SMALL percentage of Bitcoin instead of BUYING a WHOLE Bitcoin. The reason why Bitcoin is so HOT IN THE STREETS, is because it is almost “UNHACKABLE”, because it does not have one CENTRALIZED system like the Banks do for regular currency. There are people in the Blockchain, which is the system of cryptocurrency, who act as “miners” and verify transactions of Bitcoin. Nobody really knows who is BUYING and SELLING Bitcoin, it is all anonymous, thus making it SECURE and it being ANONYMOUS is a major reason why experts believe it is going to be the currency of the future.
Bitcoin is like Gold or other Natural Resources in that there is only a FINITE amount of Bitcoin in the World. The value of each Bitcoin continues to RISE just like Gold and it is GREAT investment for the future. Also with Bitcoin, there is no “system” or federal reserve that can just PRINT/MAKE more Bitcoin, which is what happens to our currency.
Bitcoin can be used to TRANSFER money around the World in the most SECURE and ANONYMOUS way possible and the value of Bitcoin continues to RISE, then it WILL become the currency of the FUTURE.
I looked at the prices of Bitcoin, and I must say that is not something a broke College Student like myself should be buying. ONE Bitcoin is worth about FIFTEEN THOUSAND Dollars right now, there is NO WAY in HELL I can afford to buy even ONE Bitcoin, but while doing my “research” on Bitcoin, I came across this tweet down below, and I must say I am IMPRESSED and kinda want to DABBLE in the Bitcoin game.
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong. pic.twitter.com/WVx3E71nyD
— John McAfee (@officialmcafee) November 29, 2017
John McAfee is a Tech Nerd who is the MAIN guy behind the “McAfee Antivirus Systems”, so he knows his SHIT and has been around in the TECH game for a while. I jumped when I saw this tweet and must say that the Bitcoin market is ATTRACTING to me towards it.
If someone tells me that they expect something to be worth a MILLION DOLLARS in the FUTURE, I have to be ALL IN. I am still learning more about Bitcoin and cryptocurrency, but IF if does become the MAIN currency in the FUTURE, then this blog should be used a reminder that I TOLD YOU SO.
The cryptocurrency market is NOT regulated right now and a lot of SHADY things are happening in that area. I CANNOT stress this enough that I do not fully understand the Bitcoin process or how to even buy a Bitcoin, but I just know that the Tech Nerds in Silicon Valley are up to something with this Bitcoin and I want in.
If you are intrigued by Bitcoin and want to BUY some for yourself, the BEST site to do so in the United States is Coinbase.com using a credit card or your bank account.
I WOULD NOT MIND IF PEOPLE BOUGHT ME BITCOIN AS A LATE CHRISTMAS PRESENT, because IT IS GOING TO BE WORTH A LOT MORE IN THE FUTURE.
By conducting research and by that watching an HOUR long documentary on Cryptocurrency, I am even more intrigued of this movement, so look for blogs related to Bitcoin and Cryptocurrency soon.
Editor’s note: I know that when I first started this blog, in my very first blog, I had said that I would mostly blog about sports, well that has not been gaining as much popularity as I would have liked in the first NINE months of the blog. From now on, I am going to blog about things other than Sports that I find interesting and have an opinion on. Let me know if you like this blog to be strictly sports or if you like this new transition either below in the comment section or on Twitter.