10 Dec Bitcoin 101 by Shane Reynolds
So what is Bitcoin?
Bitcoin has been on a wild ride lately seemingly everyday is bringing new highs, the coin is a digital network that allows two people to
exchange value between each other without any middle men.
That sounds confusing? Think of it as online cash. For most of its 9 years bitcoin has been outside the mainstream really above culturally and financially this has started to change this year.
The longer Bitcoin stays around the more comfortable people get with the idea of digital money and that Bitcoin is going to become more part of
the main stream. That notion this year has sparked this buying frenzy that you have seen drive the price of bitcoin up 1500% so far in 2017.
This is a highly speculative asset right now, it is a big bet on a new technology and this becomes very alluring to people, that brings in a lot of true believer types and brings in a lot of trader types and the rising price well that becomes its own marketing. There is one bitcoin fund that trades over the counter in the US there is another that trades over the counter in Europe.
There is a bitcoin futures market that is just getting started too, but it you really want to invest in bitcoin at this point you basically have to buy it directly.
To do that you have to go online, get yourself a bitcoin wallet, find a bitcoin exchange and put in buy order, today’s bitcoin price is circa $20,000 for one bitcoin. But keep in mind this is a small volatile largely unregulated and still very highly speculative market.
For more information about bitcoin lookout for my next book titled Crypto Currency 101 or visit my new website crypto101.com.au