I know this is a little off topic for a real estate website however as an investor or in this case speculator and early adapter of technology I have been getting pretty excited about Bitcoin and Ethereum lately. Along with collecting real estate I’ve started to acquire some digital currency assets recently to diversify.
What I find particularly interesting about this currency is that it is increasing in value as it is “mined” as opposed to the U.S. dollar which is decreasing in value as it’s printed.
For example with Bitcoin they’re only releasing 21 million coins and that’s it… with gold you can keep mining it for ??? so in my mind Bitcoin, since it will be a limited resource, could have more value faster. Bitcoin is currently trading at $6500 a unit and gold at $1200 an ounce or roughly $40,000 a pound 11/13/2017.
Also from what I understand the algorithm is written so that they release less Bitcoin as time goes on. It actually is designed to increase in value through the coding of the block chain. This blockchain mining takes time to release as opposed to just releasing a ton of coins at once which would cause valuation issues, instead it will release steadily and reduce volatility.
Bitcoin is a finite commodity that I have actually used to buy an item with today! I just bought some cologne on Overstock.com using Bitcoin just to see how it works. Depending on whether the Bitcoin is worth more or less than I paid for it I then pay more or less for the cologne… if that makes sense. Pretty fascinating….. It was easy using Coinbase to buy the Bitcoin however, it did take about a week to get everything set up and rolling. I didn’t really trust Coinbase or any of this virtual cash so I opened a separate bank account to only use for digital currency and that way I felt like they couldn’t just help themselves to my bank account or if it was a scam that would be limiting my exposure. Since I bought it, it went up $1,000 but it’s pretty volatile, it’s been bouncing around $500 in value every day.
I originally got a referral link from a buddy who uses Coinbase. He gave me a link and he received $10 in Bitcoin and so did I when I purchased $100 or more in digital currency.
I purchase some before it took off recently. Since then I have been going on a lot of blogs and reading about Bitcoin and Ethereum and one common question is “Where do I get Bitcoin?” and the answer is Coinbase! Coinbase is a great place to pick up some Bitcoin, Ethereum or Litecoin and get started. Please use the link below. If you buy $100 worth of Bitcoin you’ll get $10 free!