The REAL value of Bitcoin
How much USD should 1 BTC be worth?
Since the start of the crypto craze when the first bitcoins were mined, people are trying to determine its inherent value.
Finding this value would make it possible to compare this number to bitcoin's current value in USD and determine a bearish or bullish outlook for price movements.
People from different backgrounds tried to attempt this many many times and Google returns all kinds of different results:
"It has no intrinsic value and will be worthless once the bubble bursts"
"It's current price of $300 is undervalued but it will never reach $1000 again"
"Bitcoin moves above $500,000 within three years [...] if not I will eat my dick on national television"
As you can see, there is a big uncertainty about how Bitcoin should be priced in the future. (That last statement is from professional nut job John McAfee in case you were wondering. A very interesting character, heavily invested in Bitcoin mining.)
So how much $ will I get for my bitcoins in a few years?
I don't know. No one knows. And it really doesn't matter.
The REAL value of Bitcoin is $∞; unlimited, not measurable, priceless.
Bitcoin was created as the manifested form of an utopian dream of Cypherpunks. A way into individual financial freedom, liberated from controlling governments, manipulating corporations and unfair regulations.
Cryptocurrency has the power to fix many of the modern world's biggest issues by giving back control over finances to the individual and redistributing the powers transparently and fairly.
And that's only the beginning! The underlying blockchain technology can (and will) get adopted in all aspects of our lifes. Transparent government voting systems, easily and globally accessible healthcare, immutable software and marketplaces, net neutrality and privacy - just to name a few!
Huh, so do I invest now or not?
That really is up to you. If you invest, you might hold the currency of the future before many others around you. Or the project could fail (due to one of many very real threats!).
If you are here for the quick buck then that is very understandable (who doesn't want free money after all). Learn various trading and investing techniques and try your luck in this crazy crypto market. There is definitely money to be made!
But also keep in mind what all those recent crazy gains are fundamentally based on: The dream of a free and independent world for everyone. And when you realise that and decide you want to be a part of this for the long haul - then you will find yourself not worrying about the latest price dips, crashs or moons. As long as you hold cryptos and use them whenever possible, you are the winner; one day maybe a rich one, maybe a poor one. But you win.
Film tip
At this point I would like to suggest to you to watch Banking on Bitcoin and along the lines of this article possibly The Deep Web. I found both documentaries highly interesting and inspiring.
Note: In this article I more or less freely jumped between the terms Bitcoin and Cryptocurrency. I have done this by purpose as I am neither a Bitcoin purist nor an opponent. Bitcoin was the first crypto of its kind with the described fundamentals and many of the current coins are a result of the way it paved. However, I don't know which coin will be the one to change the world and this is not the topic of this article... there are different parties / chains within the Bitcoin network already!
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Awesome insight , i have recently bought some ico and cant wait to see the waves start happening .
What ICO? I don't quite understand
I bought an "initial coin offering " called plexcoin waiting till launch day to see if i can retire . An ICO is pre sale before a crypto hits the market . :)
I know what ICOs are but what has that to do with the topic of the article?
Any coin could become the next bread winner , bitcoin had a similar launch price to all of them , i was just using a new one as a similarity , . J have a little invested in bitcoin , but its to expensive to get whole pieces . Your article touches on bitcoin only but some of these altcoins may be better bread winners for the early investor . Thats sort of what i was getting at . When people think that bitcoin was so small and insignificant just 7 years ago , most were calling it a scam , but i feel that any alt coin could be the next big one is all . Sorry for the confusion .
Ahh I see. No this article was definitely not meant to be investing advice of any sorts. By all means, diversify! I actually hold more ETH than Bitcoin at the moment. I am sure most of the cryptos around today will be forgotten about in a few years actually.
I tried to touch on the fundamentals on why one should support projects like Bitcoin and the issues it can solve. Unfortunately nowadays many people just see crypto as a get rich quick scheme
Im definatly a buy and hold em kinda guy lol , there for sure are people that think of it as get rich quick , however ; i more hope that 20 years from now i can retire off my cryptos .
Just wrote an article myself touching on similar themes...yours is much more elegantly laid out...well presented...
Thanks! I will have a look at it now. Glad to see that other people are sharing my opinion and spreading the word!
For sure...
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