Today we continue our overview of the arguments that are both the most classic, but also the most off the plate regarding Bitcoin. It is indeed a bit of a lot for any beginner to have to be satisfied with all the shots surrounding the queen of electronic currencies. Welcome to this series of articles where we sort the wheat from the chaff. So, after having reminded that no, Bitcoin is not the currency of DarkWeb, no, Bitcoin is not very complicated to buy and no, Bitcoin has never been “hacked”, today we will fight in breaks a most down-to-earth argument: “Bitcoin is too expensive!”
No one forces a beginner to buy a whole Bitcoin!
It seems silly exposed like that, but it turns out that many beginners assume that they will not be allowed to take their first steps on the mysterious and exciting continent of Bitcoin unless they are in possession of a complete copy of the noble digital currency.
And right now, you have to agree that carrying out this operation will require you to raise more than $ 10,000… Now, unless your daily unit of account is the million euro, chances are that the sum cool you down right away, especially since you understand that investments in crypto-assets present a high risk of capital loss (fortunately, you are safe from these disappointments because you will have taken the time to consult the 13 golden rules to boost your wealth in Bitcoin, right?).
The periodic table of Bitcoin for beginners
Many will be discouraged before they even take their first steps, without understanding that nothing and nobody forces you to acquire 1 Bitcoin right away!
I have indeed great news for you: a Bitcoin is made up of many smaller units, allowing it to be handled more naturally in everyday transactions. In these units of account, the smallest variation of Bitcoin was baptized on satoshi, in homage to the founding father Satoshi Nakamoto. (did you know we found him?).
Millionaire in Bitcoin!
Thus, 1 Bitcoin has 8 digits after the decimal point. In other words, 1 bitcoin is composed of 100 million satoshi. This information will allow us to immediately change scale is to note thatit is possible to hold “bitcoin”, without necessarily owning “1” Bitcoin.
And speaking of scale, and this in order to avoid esoteric calculations, know that at present 1 dollar = 10,000 satoshi.
Through simplified purchasing processes (via a broker like Coinbase or Kraken), so you can fully enter the Bitcoin adventure, for a few tens of euros!
And to indulge in the drunkenness of numbers, know that in 2020, it is still possible for you to be “Millionaire in Satoshi”, from an investment of …100 euros (amount equivalent to just over 1 million satoshi as of February 12, 2020).
Is Bitcoin too expensive?
The sensitive question par excellence! Bitcoin will always be too expensive, in the eyes of those who consider that it is built on wind, and does not rest on anything.
For those holding the complete lack of value offer behind Bitcoin, Bitcoin is too expensive at $ 10,000. It was too expensive at $ 1,000, as well as $ 100.
And when Bitcoin was trading at a few cents in 2010, it was always a few pennies too in the eyes of his opponents.
All in all, Bitcoin will be anyway too expensive for you if you don’t discern its true value.
Yet it is this which has allowed its price to increase unremittingly for a decade now, making fun of it as its first mined block, in the opinion of those who sees in him only an improbable giant Ponzi pyramid.
Bitcoin has a cost, but it is priceless
On the other hand, if you understand that the potential of Bitcoin to shake the current monetary order is real, even worse, that this destiny is inevitable, getting BTC at $ 1,000 or $ 10,000 is secondary: only matters …to get Bitcoin.
We must indeed ensure that we evolve in the good debate: Bitcoin is a speculative tool, nobody denies it. This speculative dimension is itself accompanied by all the drifts intrinsically linked to stock market capitalism and its phenomena of market manipulation, bubble, gambling …
However, Bitcoin is not just a simple currency: it is the tangible unit of measurement of a new system which foreshadows the emergence of a Value internet Free, decentralized, distributed, uncensurable and ultra-resilient.
Would you think of finding the Internet as an “overpriced” innovation? And yet the value of the entire global network if by chance it is calculable and presumably colossal.
But what does this cost represent, compared to the absolute value of the Internet as an innovation?
Answering these questions also resolves the question of what would be “too expensive” Bitcoin.
Bitcoin’s value will never stop growing
” Trees do not go up to the sky “. This maxim, particularly suited to stock market values, should also be kept in mind regarding Bitcoin. In other words, Bitcoin price will not increase endlessly and eventually, sooner or later, will reach a plateau.
However, when we recall that Bitcoin is a newborn just a few thousand days old, or could reasonably assume that with a current value of 10,000 dollars (and a higher end of 2017, at 20,000 dollars), the BTC to “give everything”.
But, who can predict how far Bitcoin will go? Will it see its value continuously increase, until equivalent to all the traditional assets of the world of which he will embody the digital version? Will we have to wait around 2140 and the last Bitcoin mined to witness a halt in organic growth?
Difficult to say, as the new paradigm embodied by the creation of Nakamoto opens gradually an unprecedented path, making lie any attempt at prospective.
It is up to you to choose, or not to believe those who anticipate a Bitcoin to $ 250,000 by 2023, or at 100,000 dollars within 2 years.
You can also burn a candle on the altar of the forecast of a $ 10 million bitcoin, formulated by one of its very first faithful; the legendary Hal finney, at a time when Bitcoin was literally worth … nothing at all, just days after it was born.
If you are new to Bitcoin, remember that digital gold is not elitist: it will be accessible to you, without any special conditions, even if you only have a few euros to spend on it. And if you really just landed but having 1 whole Bitcoin is important to you, you are encouraged not to waste too much time: the race to become the owner of 1 full Bitcoin may already have started …
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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