Bitcoin solves lots of problems that would bring life to a screeching halt were there to be a major interruption of electric or Internet service. Things like smoke signals would make a comeback but the current state of the currency system may not. Any centralized bank would take long enough to make a decision that many people would likely go hungry.
At the end of such a fiasco, cryptocurrencies would have made their greatest leap into the mainstream. Certainly, blockchain technology is set to change banking, for the above-mentioned reasons and others. But Bitcoin already has market penetration.
Over 100,000 retailers currently accept Bitcoin and that number is likely to grow much faster and much higher in the next few years into the many millions. Some sites that accept Bitcoin already operate like sites you’re used to. OpenBazaar basically functions like an eBay for Bitcoin users.
Keeping Bitcoins safely stored is as important as any cash you keep around your house in case of emergency. You never know when the next emergency will be sending you to the 19th century.
If you aren’t looking to invest in building a power plant in order to mine Bitcoins, you may want to just buy them on the open market.
Now is the time to buy Bitcoin. Blockchain will soon change your life one way or another. Every morning there is a story of some sector of the economy either adopting blockchain or investigating its potential. It is a game changer.
Bitcoin has been adopted by more people than any other cryptocurrency and has the largest market capitalization in its sector. It’s hard to imagine that Bitcoin will not continue to be a player.
When looking for a cryptocurrency broker, it’s important to find a reputable one. Not all exchanges are creating equal, and many shady ones are popping up and getting shut down by authorities every day. Those are more like online casinos than true exhanges. Most reputable exchanges will only accept payments through the banking system. They will also limit your initial transactions to a few thousand dollars. As you grow your portfolio and the exchange is provided with valid identification, your limit will be further raised.
Bitcoin offers many new opportunities and the full scope of its underlying technology is in its infancy. If you feel you’ve missed out because the early days are over, that’s not the case. Some predict Bitcoin’s value will grow tenfold in the coming years. These still are the early days, full of yet to be seen inventions using Bitcoin technology.