[UPDATE Dec 22nd, 2016: Would you believe it? The service I show you in the video, Circle.com, has stopped facilitating the direct buying and selling of Bitcoin. They are now recommending Coinbase instead. Hope this post still helps you in understanding the basics on Bitcoin though.]
Obviously this is quite different to the usual internet marketing stuff I post about on this blog.
But it’s something that interests me so I thought I’d share it with you too 🙂
First, here’s a short video I made for you:
And some more info on why I’m doing this…
1. I’m Investing In Bitcoin
Specifically, I’m putting a very small percentage of my personal investment portfolio in bitcoin and holding that for the long term (i.e. years, not weeks or months).
You might call this a punt.
I’m quite prepared to wake up one day and learn that Bitcoin has disappeared off the face of the planet and my coins are worth nothing.
If so that’s fine – I won’t lose sleep and my lifestyle won’t be affected because I’m not betting “the house” (which I wouldn’t do on anything anyway).
>> Never invest more than you’re prepared to lose <<
On the other hand, maybe bitcoin won’t go to zero and I personally believe there is a good probability that its price will experience a very large rise over the longer term.
2. What Is Bitcoin?
It’s a currency which is created and held electronically.
It’s decentralised meaning that unlike normal currencies such as dollars, euros and yen it isn’t controlled by any central bank, government or group of individuals. It also has very low transaction fees which is one of its major advantages.
Here’s a reasonable helpful beginner’s guide on Coindesk’s website: http://www.coindesk.com/information (all links in this post open in a new window).
3. Why Bitcoin’s Price Could Rise
This is purely my opinion and nothing more. This is not financial advice and I’m not qualified to give any. Do your own research and take responsibility for your own investments.
With the health warning out of the way, here’s where I see the upside in bitcoin’s price: