Day for cryptofans this year raises an interesting question fast becoming
perennial – should you invest, large or small, in Bitcoin now?
As this bitcointalk thread points out, waiting until the price of BTC stabilizes runs the risk of it being considerably more expensive. Since the 2013 tumble, a time has come for modest investigation of Bitcoin by an increasing number of consumers, helped by rapidly increasing publicity from third party firms seeking to profit from its innovation.
A sea of opinion
As far as Mother’s Day is concerned, it would seem that the community envisages less ‘economic’ difficulties to be overcome. “The idea isn'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 mom to 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 in Bitcoin. Most recently, American venture capital investor Tim Draper has praised Bitcoin and called it the smartest technical investment, adding to Bloomberg TV that he already owns some himself and has invested in a number of Bitcoin companies. Entrepreneur Rik Willard told Cointelegraph in an interview, “If I were looking for new investments, I'd invest in Bitcoin right now – right this second.”
Most comments have come across very cautious, however, often with large provisos weighing on any case for making a purchase even from those who are positively predisposed to cryptocurrency in general. “I have recommended not putting more than 3-5% of your portfolio in speculation on Bitcoin,” Jeff Berwick of The Dollar Vigilante told us last month.
But even such speculation, or rather warnings against it, is unlikely to deter first-time investors from tentatively probing the phenomenon with one hundred dollars or so.
Furthermore, in the first instance, there could be a case for a graded introduction for novice users, first steps being taken with altcoins before any significant amount is invested, thinks Sarah Blincoe, Founder of Bitcoin Beauties photography.
“I support all forms of cryptocurrencies,” she told us, “I enjoy the new communities of alt-coins coming in. I find that alt-coins are less ‘scary’ or ‘risky’ to new users; they are great learning platforms.”
‘Learning by doing’, as with the Internet, could well be the answer to the current landscape of warnings and risks associated with cryptocurrency label.