Short answer: If you don’t, you might just miss out on the biggest opportunity since the internet in the 90’s. Maybe 1% of world's population own Bitcoin - it's growing staggeringly fast (from $600 to $7000 per 1 BTC in one year). Imagine where it'll be if 50% will own it.
Do you really need a longer answer?
Well, maybe it’s worth knowing what I mean exactly. I’ll keep it to the point and simple.
Reason’s why invest in (or follow) Bitcoin (and cryptocurrency / blockchain) development.
1. There’s hardly any other more disruptive technology out there today
What technology do you know about that has the potential to disrupt financial markets, enable even the least developed countries to join the financial market, send and receive payments easily, doesn’t care about your ethnicity, country, colour, religion or paycheck.
2. This is the biggest change in the financial markets since the stock market was created
- Blockchain technology can completely change worldwide financial transactions and markets, banking systems in many ways:
- make them much faster than today
- make them much easier than today (opening bank accounts, sending money worldwide)
- make them much more accessible than today (you don’t need a bank account to send and receive payments. Not even a card. All you need is a smartphone and internet connection, 3G works too)
- make them much less corruptible than today by decentralisation
- make them much faster than today
3. The interest, adoption and it’s price is growing at a staggering rate – fastest growth you can find in the markets today (from $3000 to $7300 in 3 months)
Or from $600 to $7000 in one year.
And the fact that it’s limited (21 million Bitcoins left – around 80% already in circulation) - no more Bitcoins will be available after that, which means that with growing interest the price will grow further and quite possibly faster than today.
4. It’s open source – great room for inventions and improvement
Remember internet? Websites, HTML and other programming languages? Android? All are open source – anyone can develop technology for them. That’s why we have seen an incredible growth of new technologies in a very short time. Blockchain technology, Bitcoin and cryptocurrencies are open source too.
5. It’s pretty stable - No bad news have so far managed to stop the progress
- China stopping exchanges? Did it have a big impact on Bitcoin? No
- Japan stopping exchanges? Did it have a big impact on Bitcoin? No
- New York trying to regulate Bitcoin and the crypto-markets? Did it have a big impact on Bitcoin? No
5. How will you feel in a few years if you don’t invest or at least stay in touch with the topic?
This is a similar opportunity to the dot.com bubble in 2000. You say the bubble was bad? Consider this - the markets have since recovered to higher levels than before the bubble, it gave us Google, Facebook, Wordpress and many other technologies we use daily today.
It’s not whether Bitcoin or other cryptocurrencies can make you a few thousand in a few months. It’s about the long term potential of the underlying technology – blockchain. It can be developed into something much greater than just a system to exchange value. And it will, make sure you’re on board before it happens.
SHORT: It’s not about cryptocurrencies – it’s about the system they are built on blockchain.
6. It can remove government / big corporations monopoly and censorship / power to manipulate systems if they need to
Because it’s all decentralized – running on it’s users computers, without a single centre or base. Remember Wikileaks? PayPal and Visa decided to stop providing their services to them because they were too “hot”. This won’t happen with cryptocurrencies.
Although Bitcoin founder at the time did ask Wikileaks not to use this technology, as the heat created around Wikileaks could potentially sink Bitcoin which was a toddler back then. But the difference here is – they asked and Wikileaks decided freely to listen. No one forced anyone.
7. Bitcoin removes bureaucracy and difficulty to enter financial markets for any individual
No need to have a good credit limit, own a passport, have a permanent address (and prove how many years you live there), have a certain monthly income to be able to get the service. It doesn’t care about borders, nationalities, religions, skin colour, your wages or
Do you have 100 EUR you want to invest? You can do it today. No need to have a minimum amount (usually 5000 USD and more) to open an investor account, no need to comply with various rules and criteria. Just get a wallet, create an account on an exchange and buy BTC or other cryptocurrencies.
8. Bitcoin’s system – blockchain has the potential much farther beyond financial markets and transactions – it can create infrastructure to disrupt other segments of business:
- automatic contracts – once they are created, there’s no changing them or disputing them. They are in the system and the whole world can see them. And no one can walk out of them or pay their way out of them (by being able to afford a better and badder legal team). Size won’t matter here.
- revolutionise cloud storage – data won’t have a single point of failure (a company that runs them). It will be stored across the blockchain network – meaning on computers of users that join the network
- potential to create a new structure for collaboration – not hierarchical (Director>manager>supervisor>employees) but a more equal voting system based on smart contracts. (Everyone can vote on ideas submitted by everyone, rather than employees submitting ideas, supervisors filtering, managers filtering… etc and only a few of them reaching reality).
- Disrupt elections – think kickstarter or ICO system for elections – no one can control or sway the result.
Bitcoin and the blockchain technology is safe, much less corruptible, open source and has already hugely simplified money exchange and international transactions.
All it needs now is mass scale adoption that will do two main things:
- encourage further development (open source) that will drive progress and new / better uses of the technology, improve security, simplify it
- encourage more businesses to use this technology – a snowball reaction – that will push adoption, create room for lower fees, development and new inventions and hence bigger adoption = a closed loop of growth
Both will result in higher price of Bitcoin or other cryptocurrencies and technologies based on this system.
Imagine where it will be if 50% of the world will use it.
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