How is it hard to sell? I acquire and sell btc 2 or 3 times a week. I sold about $2,000 of it this morning. Took 30 seconds to put in the order and about 10 minutes to show up in my bank account. But there is a learning curve.
And yeah, I imagine it will spike and drop over and over again. I use and accept BTC but I don’t invest in it. I don’t have that kind of risk tolerance unless it is money I would gamble with anyway. But there are more entertaining ways to gamble.
There is also the Shift debit card which allows $200 per day cash withdrawals from ATMs and up to $1,000 per day purchases on the card. Now, there was a time Bitcoin was going for a bout a 1 cent per Bitcoin, and then $3 per Bitcoin, eventually $600 per Bitcoin and so on.
Imagine a college student purchased 3 Bitcoins when they were $3 a piece, so, for a sum of $9 (not including transaction fees) and much later on they got a Shift debit card. Now, even if Bitcoin plummeted from $19,000 per coin to say $10,000 per coin said student made one hell of a profit. They can get more money out of their Shift card on withdrawals and purchases per day, than the damn $9 dollars they had invested years earlier.
Look marijuana sold illegally on the streets of America don't generally bring a doubling of your money when sold. That's what made cocaine so attractive to sell on the streets of America as a street dealer, you for the most part could expect a doubling of your money, albeit, a portion you would take out for the overhead of "re-copping," buying more cocaine to sell again.
Clothing (suits) from companies like Men's Wearhouse, jewelry, and Bitcoin have offered some of the most radical profits to be legally, far more so than selling cocaine. Bitcoin the most if you bought in very early. Suits sold from Men's Wearhouse a lot less so but still with large profits from huge markup. What... they sell suits for like $600 that are made (with glue) for like $10 in factories in developing nations like Indonesia.
Bitcoin is 1st Generation blockchain tech though. Kind of like 1st Generation cellphones. But Bitcoin carries name recognition having been the first to establish blockchain tech and being the one most reported on in the media. That's all I say on that. But it should be enough to give one a clue. I'll say one other thing: the United States Postal Service has released a paper about the need for the US Postal Service to explore adopting this new tech. Some countries are already jumping on it.
apan made bitcoin a legal currency - now it's more popular than ever | CNBC Reports
Honestly, I knew to purchase Bitcoin back when it was around $60 a coin if I recall correctly. Certainly I knew when it was around $200 a coin. I procrastinated and only rarely had the money. I knew back then eventually Bitcoin would rise to $100,000 per coin. And I know now that it still likely will after going through major up and downs. Nonetheless, as it being 1st Generation tech it suffers from some technological limitations. But its name recognition, and that it is viewed in crypto world as akin to the US dollar (which all other world currencies are measured against), there are decent odds Bitcoin will stay on the world stage long enough (or for a century) to reach and maintain the $100,000 per coin mark and act as a store of value similar to people buying gold and putting it in a vault. Maybe. Black swans do come, so, it's hard to really predict the future on things like this.
Certainly, banks--governments are tied to them--will try to knee cap crypto or at minimum create their own and **** block the other crypto currencies. But the genie (tech) is out of the bottle and I don't foresee the tech itself being shoved back into the bottle. And I don't pretend to understand this complex mathematics that is the essence of the block chain, but I kind of get the "philosophical" idea of it all *somewhat.* And if nothing else it enable a more efficient form of money transfer and a fraction of the price we see now say... from transferring money out of your US bank to some bank in Cambodia because you re living their temporarily for 18 months. Too much friction occurs with 3rd party sources like Western Union too.
I'm personally not in the Bitcoin game. At this point the price of entry is too high (in relation to making a profit) for someone of my low means. But I'm not hating on Bitcoin or those that had the vision or luck of entering into the game early enough.
I think taking out a second mortgage on your home is too high a price relative to the high risk though--just to buy one or more Bitcoins.
