This is the trillion dollar question right now. To buy or not to by Bitcoin?
Note: This is not an investment advise. These are just my thoughts on Bitcoins. Do not plan your investment based on the content given here. Do your own analysis before doing any investments.
Also be informed there is a risk involved in any form of investment. So take clear decisions and 'Do not invest anything more than you can afford to lose' unless you are damn right about it.
Why Bitcoin prices will raise?
- Bitcoins are limited. So as time increases, the value is going to increase. Also mining bitcoins when it is nearing the end
(near 21 million) requires tremendous computational power. - Bitcoin is already adopted by many companies and countries.
- Price of bitcoin won't change in day to day basis. But on one fine day, it would have increased like anything
- Some consolidations will take place every now and then. But historically, the price of Bitcoin has always been increasing.
- Required infrastructure for Bitcoin is already available. Right now you can buy bitcoins and perform safe and secure
transactions instantly. Can you do this with any other currency in the world apart from you local currency? - Transaction charges and brokerage charges are very very low.
- Bitcoins are different from other crypto currencies. Even if other crypto currencies fail, Bitcoin will keep going.
- Governments will definitely regulate bitcoins at some point in future. But may not ban it completely.
Reasons not to buy:
- It is still not very clear what is the governments stand on Bitcoin. Few laws are created here and there, but the exact stand is
still not clear. eg, china has already banned google and facebook, so no wonder if it puts a ban bitcoins one day. But still
then, the prices will come down. But it will not kill bitcoins.