Cash Money, Change, Excitement, and Fear

Cash Money, Change, Excitement, and Fear of the Unknown Bitcoin.

When the US Government redesigned the $100 bill, Banks all over the world were set on by people with American Money.  They were seeking to change it to the new bills.  To an American, this is silly.  To people in other parts of the world, New money means the old money is (or will soon be) worthless.  This has a historical context.

Money and value change constantly, and throughout history we have seen many currencies come and go.  What of your Roman coins?  Payment in round pebbles or carved stones?  All were forms of currency that are no longer common or abandoned with the fall of the Empire.

Today we have seen the birth of a new form of money.  You can’t feel it or carry it in your pocket.  Electronic Currency has arrived.  Conceptualized in a paper by the mysterious Satoshi Nakamoto, the creator of Bitcoin, the “gold Standard” of cryptocurrency.

 

 

Cryptocurrency, like any new form of money, has purpose.  Proponents say it is the “next generation” of money and financial transactions.  Since it is “peer to peer”, and can be transferred person to person directly, without passing through a central clearinghouse or central bank.  Fees are low, and the transactions are immediate.  OF course, when easy transfer of funds is available, a certain “sketchy” element of society (money launderers? Drug kingpins? Arms Dealers?) finds it attractive.  Bitcoin achieved star status with Silk Road, a defunct website trafficking criminal materials and ungoverned commerce in prohibited (illegal) products.  The US Government acquired 25 million Bitcoins in the aftermath of the criminal investigation.

 

The Dark Side of Bitcoin: From the mechanisms of the Crypto-Currency  to its criminal employment in the Dark Web

The Dark Side of Bitcoin: From the mechanisms of the Crypto-Currency to its criminal employment in the Dark Web – From Amazon books

 

Thus we see that Money is interleaved with governments, criminals, profiteers, history, and an underlying concern that your money may be worthless or converted to something else.  No wonder proponents of bitcoin have the zeal of missionaries, and enemies of it are passionately opposed and eager to see the Bitcoin “house of cards” come crashing down.  It is a fear that the current paper money might be as worthless as confederate dollars.

Bitcoin has survived almost four years.  I don’t pretend to have a crystal ball, but instead of being afraid, I am going to enjoy the show.

Bitcoin Stickers – For Home, Car, Laptop, more! On Ebay

Consider these books on Bitcoin (from Amazon):
How to Start a Crypto Portfolio – Robert Leshner – Medium – Medium
Should your portfolio include bitcoin? Yes, but just a 2% position, says analyst – Marketwatch
Bitcoin: Mastering Bitcoin For Beginners: How You Can Make Insane Money Investing and Trading in Bitcoin (Bitcoin Mining, Bitcoin trading, Cryptocurrency, Blockchain, Wallet & Business)

Thanks for Reading my Blog on Bitcoin!
All rights reserved by Alan Chenkin & Primrose Path LLC.  Remember to give credit to the author and any cited works. Some links are promoted so the author can maintain his Starbucks coffee habit. If you enjoyed this blog, please feel free to share .This Blog was Human-generated by the author, and not produced by a Russian blog Engine.   If you really liked it,  send some bitcoin in appreciation to my Bitcoin Address:
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If you need a Bitcoin wallet, try Coinbase.

 

 

 

Do you think Bitcoin belongs in a portfolio for diversification?

Cryptocurrency is like penny stocks in the 1990’s. There is risk, meaning you can lose your investment, and there is potential for reward, meaning you can make big money.  Think of bitcoin in December of 2017, when it reached a high of almost $20,000 per BTC!

Cryptocurrencies do not have a long history, and have a lot of  volatility (at the present time). I would consider the investment across a few cryptocurrencies or several Blockchain companies (as example: BTCS, BLOK, RIOT, BCCN – These are publicly traded) as a watchable trade or small investment, not a diversification move.

If you do consider Cryptocurrency as a diversification move, please don’t commit more than a small percentage of your assets to this emerging asset class – and certainly not more than you are willing to lose.

Cryptocurrency is starting to emerge as an “Asset Class”, but it is not there yet.  The old adage is “Bulls make money, Bears make money, Pigs get slaughtered” – and my addition, “Missionaries get eaten”.  Don’t be the first missionary in this asset class; take a slow and measured approach.

Don’t just take my opinion:

How to Start a Crypto Portfolio – Robert Leshner – Medium – Medium

Should your portfolio include bitcoin? Yes, but just a 2% position, says analyst – Marketwatch

Bitcoin: Mastering Bitcoin For Beginners: How You Can Make Insane Money Investing and Trading in Bitcoin (Bitcoin Mining, Bitcoin trading, Cryptocurrency, Blockchain, Wallet & Business)

Best of luck to you, and may your portfolio go TO THE MOON!

The Last Word:

Liam Neeson bitcoin Meme

 

 

Bitcoin Watch – Men’s Wrist Watch – Classic Black Leather | Bitcoin Gift | Bitcoin and Ethereum Coin – Crypto to the Moon

If you enjoyed this blog, please feel free to share and send some bitcoin in appreciation to my Bitcoin Address:

15EzAW7wfyqHD8pj6hS1dUCaLeLxW8uMbn
If you need a Bitcoin wallet, try Coinbase.

Disclaimer: This answer is offered as opinion and is not a recommendation on investing. Please consult knowledgeable advisors and professionals you trust when seeking investment advice. I currently own BTCS, and just exited a position in RIOT. I also own some Bitcoin and Litecoin.