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10 Reasons You Should Own Bitcoins

10 Reasons You Should Own Bitcoins

Bitcoins have been all over the media lately. As Tim Draper believes: “Bitcoins are opening up a space that will create a revolution like the personal computers did in the 1970’s or the internet did in the 1990’s” . This article presents 10 reasons why you should be owning Bitcoins:

1. Bitcoins are independent of any central authority

Bitcoin is a digital currency that originated in 2009 by a software developer called Satoshi Nakamoto. Bitcoins are independent of any central authority. Therefore, no government nor central bank rules over them

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    2. Lower fees than other traditional online payments

    Bitcoins come with almost no fees. In addition, all the apps and services that have been built around the Bitcoin ecosystem, and which the vast majority of end users end up using also carry lower fees than other traditional online payment methods.

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      3. Its the largest cryptocurrency out there

      As of now, there are lots of cryptocurrency on the internet. However, Bitcoins are by far the one with the largest user adoption and market cap. Therefore, if you have to pick a cryptocurrency, go for Bitcoins!

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        4. Europe just regulated it as a commodity exempt of VAT

        Europe has just approved regulations that qualify Bitcoins as a commodity. Therefore, they are exempt from VAT. The price of bitcoins is defined by demand and supply. The new regulations are likely to produce an increase for the demand of Bitcoins as they are regularized and exempt of tax within the European monetary union.

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          5.  High volatility in the equities market can positively affect the price of bitcoin

          2015 has proven to be a highly volatile year for the equities as stocks markets around the world have been rallying up and down. Bitcoins are seen for some as a substitute to gold and therefore as a mean to store value. High volatility in the markets can create an inflow of money into Bitcoins. During the coming months the markets are likely to be highly volatile.

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            6. More and more companies are creating tools for the Bitcoin ecosystem

            Venture capitalists have poured tons of money into the Bitcoin ecosystem. Different services and apps enabling the end user are now available for the non-technical consumers. As more products are build and used in the bitcoin ecosystem, the adoption rate for Bitcoins will increase and its demand with it. This mean you can easily turn a few hundred dollars into a few thousand dollars with enough increase in demands.

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              7. To prevent a possible bank run (Think Greece or Argentina)

              Remember bank runs? You do not have to go that far in time. Both Argentina and Greece have suffered bank runs in the lasts years. Bitcoins can be a solution to store wealth outside of the traditional banking system and therefore avoiding people to panic when bank runs take place.

              This photo dated October 24th, 1929, shows a view of people rushing to a saving bank in Millbury, Massachusetts as the stock market on Wall Street crashed, sparking a run on banks that spread across the country.

                8-. Upwards trend in the coming month

                If we know something about Bitcoins is that they are highly volatile. Through 2015 it seemed for a while that the cryptocurrency would find a price resistance to stick to but the rally in October and post fall in November proved this stability wrong. However, Bitcoins are on upward trend towards $600 per Bitcoin that should start to stabilize through 2016.

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                  9. Most secure way to pay online

                  The bitcoin protocol provides the most secure system to make online payments and with so many payment processing system creating products for the end user, bitcoins are definitely one of the most secure options to proceed online payments.

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                    10. To be an early adopter of the powerful blockchain technology

                    The most powerful about bitcoins, is not the bitcoin (aka the cryptocurrency). But the blockchain that they have behind. A blockchain is just a confusing name for a share data base and it will have lots of large scale applications. Bitcoins allow you to become one of the early users in this technology that can revolutionize the world.

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                      If you want to learn more about Bitcoins, the powers of the blockchain and why Bitcoins are likely to increase in price over the coming months check: My First 20 Hours With Bitcoin

                      Featured photo credit: Bitcoins via esteve.co

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                      Last Updated on January 21, 2020

                      How to Develop a Millionaire Mindset in 6 Simple Steps

                      How to Develop a Millionaire Mindset in 6 Simple Steps

                      We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

                      It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

                      How do you go about developing that millionaire mindset? By following these simple steps:

                      1. Focus On What You Want – And Take It!

                      So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

                      Millionaires play to win, not to avoid defeat.

                      This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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                      2. Become Goal-Orientated

                      It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

                      Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

                      Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

                      Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

                      You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

                      If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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                      If you are to become a millionaire, you need to start accumulating money.

                      Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

                      3. Don’t Spend Your Money – Invest It

                      The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

                      Stop working for your money and make your money work for you.

                      Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

                      There’s not just the stock market — there’s also property, and your own education.

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                      4. Never Stop Learning

                      The best thing you can invest in is yourself.

                      Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

                      Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

                      Learn everything you can about how economics works, how the stocks markets work, how they trend.

                      Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

                      Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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                      5. Think Big

                      While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

                      There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

                      Aim for the stars, if you fail you’ll still be over the moon.

                      6. Enjoy the Attention

                      To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

                      Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

                      If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

                      Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

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                      Featured photo credit: Austin Distel via unsplash.com

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