Buying Bitcoins: Too Late?

Bitcoin vs Gold Popularity. Source: Google Trends, Bloomberg.
  1. The sentiment around this concern is usually around “missed growth”. It’s often wrongly evaluated. There is a lot of potential for growth (in adoption and in value). Less than 1 percent of the global population owns bitcoin and bitcoin’s total valuation is less than 1% of the total valuation of gold yet interest and steam is on the rise.
  2. There is also the concern about being able to cough out $8000. You can buy fractions of bitcoin in whatever currency you want. For instance, you can buy as little as ~ 0.0033 Bitcoin for N10, 000.
  • Hacks: there was a famous hack that led to the loss of almost a million coins (7% of total bitcoins in circulation) on an exchange called MtGox and led to bankruptcy in 2014. Bitcoin’s price tanked by about 30%)
  • Volatility: Bitcoin is given to erratic price swings
  • Buhari and Emefiele can come and go and vex now and say eez a crime
  • Scams: bitcoin is the gateway to exposing yourself to knowledge about and vulnerability to all sorts of scams. If you’re positively disposed, just buy bitcoin and forget about everything else. Don’t listen to MMM, AbjCoin, Swiss Gold, Most ICOs, Phishing etc. (Am I spoiling market for someone? Oops!)

--

--

Cofounder, Helicarrier. Custodian, Aleph Fellowship.

Love podcasts or audiobooks? Learn on the go with our new app.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store