Monday, 9 April 2018

Do you own Bitcoins?

I still have all the Bitcoins I bought in 2013.
And a few more of them.
I never sold at 261 USD, 1250 USD or 19000 USD.
Because I am not one of those “Buy a Bitcoin today and be rich tomorrow” guys, who use Bitcoin purely for speculation.

I bought Bitcoin in 2013 because I liked the idea of having full control over MY ASSETS without anybody being able to take it from me.
No (central) bank who would lower the value by inflation. (See how much $100 bought you 10 years ago and how much it buys you now?) Real estate, stocks, rare cars, art and watches didn’t suddenly get more expensive. It’s the equivalent fiat currency value that went downhill.
No government who would take it from me by taxation or legislation. (Remember Greece and Cyprus? Or the confiscation of Gold, back in the days?)
An easily transferable asset and securely storable asset like Bitcoin (try storing or transferring gold bars in large amounts) is worth A LOT MORE than what price is currently indication.
And over the long term, price will always adjust to value.
But in a society where everybody grew up believing in a colorfully printed piece of paper, it will take a bit longer until people understand that having full control over their own money is priceless. And thats what Bitcoin will be in a few years from now.
That’s why I still own Bitcoin and probably will for a long time.

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