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Mother’s Day for cryptofans this year raises an interesting question fast becoming perennial – should you invest, large or small, in Bitcoin now?
Bitcoin as a gift
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Mother’sDay for cryptofans this year raises an interesting question fast becomingperennial – should you invest, large or small, in Bitcoin now?
As this bitcointalk thread points out, waiting until the priceof BTC stabilizes runs the risk of it being considerably more expensive. Sincethe 2013 tumble, a time has come for modest investigation of Bitcoin by anincreasing number of consumers, helped by rapidly increasing publicity fromthird party firms seeking to profit from its innovation.
A sea of opinion
As far asMother’s Day is concerned, it would seem that the community envisages less ‘economic’difficulties to be overcome. “The ideaisn't for everyone,” writes one respondent to the bitcointalk thread, “My mom is also too old for the Internet.”Another writes, “I can't even get my momto update her phone. Bitcoin just isn't user friendly enough yet.”
Experts,however, are famously divided on the issue of when, if ever to invest inBitcoin. Most recently, American venture capital investor Tim Draper haspraised Bitcoin and called it the smartest technical investment, adding toBloomberg TV that he already owns some himself and has invested in a number ofBitcoin companies. Entrepreneur Rik Willard told CoinTelegraph in an interview, “If I were looking for new investments, I'd invest in Bitcoin rightnow – right this second.”
Mostcomments have come across very cautious, however, often with large provisosweighing on any case for making a purchase even from those who are positivelypredisposed to cryptocurrency in general. “Ihave recommended not putting more than 3-5% of your portfolio in speculation onBitcoin,” Jeff Berwick of The Dollar Vigilante told us last month.
But evensuch speculation, or rather warnings against it, is unlikely to deterfirst-time investors from tentatively probing the phenomenon with one hundreddollars or so.
Furthermore,in the first instance, there could be a case for a graded introduction fornovice users, first steps being taken with altcoins before any significantamount is invested, thinks Sarah Blincoe, Founder of Bitcoin Beautiesphotography.
“I support all forms of cryptocurrencies,” she told us, “I enjoy the new communities of alt-coins coming in. I find thatalt-coins are less ‘scary’ or ‘risky’ to new users; they are great learningplatforms.”
‘Learningby doing’, as with the Internet, could well be the answer to the currentlandscape of warnings and risks associated with cryptocurrency label.
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