The whole purpose of the invention of Bitcoin was to have a currency free from the government and banks.Do you know what was the reason of the 2008 market crash?Irregularities and corruptions in the banking system. Banks had given loan to everyone without checking their credit history and failed to recover even the original amount.The global market crash started on September 29, 2008 and the initial Bitcoin paper was proposed on 31st October 2008.Can you see the pattern here?And I repeat again, “Initial Purpose of Bitcoin was to have a currency free from banks and governments”Now suppose we are sitting in a class, right next to each other.I have a pen and I gave it to you.Do we need a third person to help us make this transfer? Will you ask the teacher to take the pen from me and give it to you?Maybe, we’ll need someone to keep the track of “who is the owner of the pen now?” but we don’t need anyone to make the transfer.We don’t need banks to transfer our wealth(Now you know why banks and financial gurus hate Bitcoin).Pretty much that’s the concept of Bitcoin in layman's terms.We can have at most 21 Million Bitcoins in the world, we can’t produce more than that.Also, Bitcoin mining becomes hard with production of every new Bitcoin, hence we can’t mine all the Bitcoin at once, which means Bitcoin’s supply is limited and production is regulated.With more people getting exposed to Bitcoin and its whopping return, demand is increasing.“High demand and low supply” will obviously increase the price.Just like, prices of gold and land have increased over the time.You can’t buy or invest in land or gold with as little as $10 but you can get started with Bitcoin with as little as $1- $5.Bitcoin is easily accessible hence more people are getting into it, increasing the demand and hence price is touching all time high every next day.The problem with Bitcoin is, it doesn’t have any intrinsic value.When you buy stocks, you get shares in the company. when you buy gold, you get the real physical gold that you can touch and same with other investments.But Bitcoin is all computer code (virtual currency).Now to answer you question…
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Is Bitcoin a bubble?I don’t care, I’ve used it as a currency to buy domains and servers from NameCheap, I have converted it into cash and I have used it as investment.I didn’t invest my whole fortune on it, as long as I can make even $1 more on my original investment from Bitcoin, I’m in profit!Be it bubble or not, it is making money for me and lots of people who took the risk(high risk, high reward is probably the first rule of any investment).Mostly, people who missed the opportunity and financial experts are calling it a bubble.I’m not an expert but I’m a computer engineer and I can also read balance sheets, calculate P/E ratios, compare book value to market value and all sorts of technical and value analysis, I know what I’m doing.I will definitely invest in Bitcoin today, do not let the current price of Bitcoin bother you, check out the yearly return. It is 2081%, at the time of writing this answer.
Is it too late to invest in bitcoin?
You don’t have to buy 1 BTC or invest $16k to get started, you can start with the amount you can afford to lose.Say, you invest $100 and if Bitcoin repeats its yearly return you’ll have 2081% ROI(most probably it will exceed this figure).Also, can you see any big crash in the above graph? It is the trader who loses money, they want to get rich by next week.No body has ever lost money by holding Bitcoins :)
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