Skip to main content

WHAT IS STOPPING YOU FROM BUYING BITCOIN?

Bitcoin first came into existence in 2009. Unfortunately, my first encounter with it was in 2017 through a former schoolmate - Mulima. I say unfortunate because by then it had already grown in value exponentially. Fortunately, it is never too late to start (well, anytime before the year 2140 is good. I will explain later).In its short lifespan it has proved to be a great store of value. Bitcoin is a digital currency, but a digital currency with a twist.

Yes, it has all the characteristics of money. Divisible (up to 8 decimal places - 0.00000001BTC); it is portable or transportable (you can carry it on an app on your phone or a flash disk-sized device or in your head if you can); Durable (if properly secured, bitcoins can be accessed from anywhere in the world on any device - mobile or desktop).

However, what sets it apart is its non-counterfeitability characteristic. See, even though it is a digital product it is designed such that it cannot be easily copied and pasted. This characteristic ensures that a payment made using bitcoin cannot be fraudulently duplicated. This is what differentiates cryptocurrencies such as bitcoin from other digital currencies.

But! That is NOT what makes bitcoin a tour-de-force. Bitcoin is decentralized. That is, it is not owned or managed or controlled by anyone. Bitcoin is a network of computers working together to verify transactions on that network. What this means for personal finances is that you can now be your own bank. You can control the ins and outs of your finances without requiring the services of a third party (such as a bank). I could go on and on about the benefits of bitcoin, like how it helps to reduce the cost of international remittances. But that's astory for another day. Agreed?

At individual level, however, bitcoin has the potential to bring about financial liberty. Not only because its unit price keeps surging higher and higher. But because bitcoin is designed to be anti-inflationary. Traditional bank note and bank coin (i.e.: fiat money), which loses part of its value overtime due to economic and non-economic factors (such as indiscriminate printing of more money by governments), bitcoin on the other hand is designed such that it has a predictable lifespan and a predictable supply. Although, new bitcoins are minted every 10 minutes, there will only ever be 21 million bitcoins, and the last bitcoin is expected to be minted in the year 2140.

According to the laws of supply and demand, the more scarce an item is, the more its demand and eventually, the higher its price. It is not rocket science. Therefore, it is highly expected that the price of bitcoin rising as we approach 2140. We have already seen this, in 2017. the price of bitcoin spike from about $1,000 in January to about $20,00 in December of that year. WE saw this again in 2020 when it shot from $6,000 in January to $28,000 in December of the same year, on its way to reaching its all-time high of $41,973 on 8 January, 2021.
With this overwhelming evidence of performance, whichever way you crunch the numbers, whether from a philosophical perspective or from a financial freedom viewpoint, it is a win-win situation.
So, the question i pose to you today is, what i stopping you from buying bitcoin?

WARNING: Beware of scams. Do not give anyone your bitcoin to trade for you or whatever means of growing it.

DISCLAIMER: I am not a financial advisor. For financial advice seek the services of a registered financial advisor.

READ MORE: HERE.

Join the #1 crypto community in Zambia - Crypto Tamanga, send an email to admin@cryptotamanga.com.

Want a free course? Request one HERE.

Comments

Post a Comment

Popular posts from this blog

Chapter 2: Thee Chapter 2 - through Esoko's eyes

  It all happened in a blur. In very inexplicable circumstances. Approximately 8hrs between my initial respiratory failure and total organ shut down. As promised, here is chapter 2 of my story, told through the eyes of my sister-in-law, Esoko, and my cousin, Ken. In their own words. I cried when I read the narration from Esoko. What an ordeal it must have been for her, Ken, and the medical team. I am grateful for the quick response at Coptic hospital because, without it, someone else would have been telling my story today. It all just seems to have been God orchestrated. Esoko Esoko Samantha Chibangulula (42) is the older sister to my wife. The firstborn in a family of seven (7). Bubbly and calm by nature, she is someone my kids and I have come to count on for pretty much anything. This is her narration of what happened to me on that fateful day. I was dosing in my favorite chair at home when I received a frantic phone call from my sister, Charmaine, informing me that Japhe...
5 comments
Read more

CHAPTER 1: THE DAY I DIED

These are the chronicles of a stroke survivor. To be honest, I had never given this subject any thought before my incident. It all seemed so far away, in another world from mine. I led a seemingly healthy lifestyle, no drugs, no alcohol, no cigarettes, I ran every other day, I did aerobics often, I slept well, etc. So I never expected this to happen to me. I shudder to think how slow my recovery would have been if I did any of these vices. You may be wondering what has led me to start this blog. See, what happened to me was life changing and it can happen to anyone despite lifestyle. I wish to help people who are going through it or might, God forbid, go through it at a later stage in life; it is also a healing process for me and it is my story to tell for I have lived to see another day. It is not always that someone survives a stroke, let alone two strokes (according to my neurologist, I suffered two strokes at once). Although it is inconclusive, my doctors informed me that I had...
34 comments
Read more

ONE YEAR STROKE ANNIVERSARY 12/02/2021

Today marks one year since my ordeal. I am grateful for every one who has showed me support in any form - financial, moral, spiritual. I look back to this day not in anger or frustration (although there is plenty to be frustrated about). Rather, I look back at it with the realisation that there is opportunity in every situation. I have always wanted to learn to code android applications. This "french leave" has allowed me to achieve this. Furthermore, I have had a number of speaking opportunities and engagement in the last 2 months. However, during my recovery I have struggled with talking about my situation. I gloss over the issue and I am quick to move on to the next topic as long as it is not about me. I know that I am not the only one that struggles with self-expression. That is why I am glad that there is an initiative to help me start to talk about their issues. The National Men's Conference is designed to be a platform to be used to talk about men's issue. ...
1 comment
Read more