The pain I felt when I looked at the price of Bitcoin this past January, was all too familiar.
Back in 2013, a friend told me about the bitcoins he bought for $1.00 a piece. He sold them for $34.00. Each.
It was a bit of a sucker punch. He had tried telling me about bitcoin when he bought them. But my eyes glazed over and my mind drifted. Why would I need another currency? I couldn’t even spend it and it sounded pretty complicated to buy and store.
Well, my initial indifference (and inaction) looked pretty stupid now. He’d made a tidy profit and made sure I knew it.
‘I missed the boat on that one’, I thought. But I managed to get over it and it completely slipped my mind. I had forgotten all about bitcoin.
…Until January 2017. Scrolling through my news feed, I spotted an article that made me do a double-take.
Oh. My. God. Bitcoin has just hit over $1000.
Twice, I had the opportunity to invest. Twice, I had squandered it and paid the price. There wasn’t going to be a third time.
Once I was done feeling sorry for myself, I got right down to it. I jumped into research phase and starting reading into how Bitcoin worked. It helped me weigh up whether it was worth its market value.
I am now happy to say I own some bitcoin.
So, are you too late?
I thought I was too late in 2012. And again in 2013.
When I eventually decide to buy in 2017, I worried I was too late.
But as you know, since January, it’s risen up to $6000.
And you know what I think? Even at this seemingly ridiculous price, it still is early days. Don’t believe me? Check the today’s price.
This is the beginning.
Well, cryptocurrency and blockchain is a relatively new industry. We are only starting to hear about it as more companies start investigating the hype and technology behind it.
We are hearing about more places accepting bitcoin everyday, and many countries have even kickstarted discussions about regulating it. The fact that they still don’t know what to do with it is a good sign. It’s still experimental as some put it. Which means… it’s not yet mainstream.
If you start learning about it now, you could be AHEAD of the pack, and not BEHIND it.
So is it the right time to buy?
In my opinion, Bitcoin is sticking around for along time. I had to learn the hard way. But I’ve also learned that it is still early days for Bitcoin, and whilst the best time to buy was indeed yesterday, the second best time is today. At least that’s what the opportunist in me believes.
I would advise you to look into it yourself. Understand what Bitcoin is really all about.
If you get into Bitcoin, it shouldn’t just be to try and make a buck or two. Look into the technology, its practical uses and what it really means for the future. If you decide it might be a good investment for you, then now is the perfect time to learn how to get started.
Where should I start?
Here’s a list of resources to help you get started:
- 7 Questions to Get You Started With Bitcoin
- Learn How Blockchain Money Transfers Work
- Bitcoin Webinars