more@bitclubblog.com
+27 83 444 9888
Bitcoin and Cryptocurrencies. The new money and asset class or a passing fad?

“A tulip”. “A Ponzi scheme”. “A pyramid scheme”. “A get-rich-quick scheme”. “Rat poison squared”. “Fresh air”. “Money out of nothing”. “A figment of someone’s imagination”. “Something certain to crash and burn”.

To be sure, Bitcoin and cryptocurrencies have been called all sorts of (negative and derogatory) things since they came into the public domain a few years back, and many articles have been written on the subject. On the other side of the coin, however, there have been many positive articles penned – by respected businessmen, and in some cases visionaries, who you are sure to have heard of:

Sir Richard Branson.

Microsoft founder Bill Gates

Apple’s Steve Wozniak

Ex US Vice-President Al Gore.

Eric Schmidt, the head of Google.

ex-President of Paypal, David Marcus

Big fund managers like Mike Novogratz

Established venture capitalists like Tim Draper, and Marc Andreeson of Andreeson Horowitz

and

CNBC’s and CryptoTrader’s Ran Neu Ner

being amongst them. (Many of whom have put their money where their mouths are..and considerable sums at that).

But who to believe? And who to be guided by?

Well, it depends on which side of the net you sit.

If you’re a traditionalist, averse to change and see Bitcoin and cryptocurrencies as a threat to the existing world economic order, you’ll likely dislike them, talk disparagingly about them – and vow not to invest in them.

If on the other hand, you believe that in this digital age, existing ways of doing things and paying for goods and services are being turned on their head (think uber, for instance), you’ll probably be embracing of Bitcoin and cryptocurrencies and believe that yes, they could potentially be THE NEW MONEY and A NEW ASSET CLASS. In which case, you may be open to investing in them.

Certainly, in my case – having been in the cryptocurrency space for three years – I have spoken with, and met with, many people here in South Africa (and in other African countries) who are hugely excited by the advent of cryptocurrencies: many of whom have invested in them.

Typically, they open an account on for instance www.luno.com www.altcointrader.co.za or www.localbitcoins.com (if they’re in South Africa) so as to open a Bitcoin wallet, and then fund their account.

It’s as easy as that. They now have Bitcoin.

(Personally, I’m not a fan of just holding Bitcoin ie there is so much more one can do with them…but I will leave this for another article).

Today, there are many thousands of people on the African continent with Bitcoin in their Bitcoin wallets. Primarily, in Kenya, Uganda, Nigeria, Ethiopia, Rwanda, Botswana and South Africa. Globally, there are probably a good few million people with bitcoin wallets, with the majority of them residing in South East Asia ie Malaysia, South Korea and Japan, and further afield, in destinations like Dubai, Malta and Switzerland – countries embracing of crypto.

These are people who see cryptocurrency as the future of money. They typically have a higher propensity for risk and are excited by change. As things stand, they are however clearly in the minority. Their numbers will grow for sure, but right now, they constitute a tiny percentage of the world’s population.

The vast majority of people (typically “Westerners”) are either not interested in Bitcoin and cryptocurrencies, or have no understanding of them.

Here are a few videos you may want to watch:

https://youtu.be/A1vJ9vDXYFA

https://www.youtube.com/watch?v=kM219avOufY

https://www.youtube.com/watch?v=q8ahWDryxgg

https://www.cnbc.com/2018/08/07/the-profit-star-marcus-lemonis-on-bitcoin.html

http://winningpresentation.com

Once you’ve sat through them, you’ll see that there’s little middle ground. People are either very pro-crypto….or very anti-crypto.

It’s an interesting one, and the next few years will be telling indeed.

In the meantime, there’s one website that I urge people to visit. www.coindesk.com

It’s a site aimed at keeping people abreast of developments in the Blockchain and crypto space.

I have no doubt that those who read the site’s articles (positive and negative) on a daily basis will be able to form an opinion in a short space of time, and will be better positioned to answer the question:

PASSING FAD or MONEY OF THE FUTURE…?

and decide whether to get involved, and invested, or not.

Gerard Kavonic was one of the first people to join Bitclub Network in South Africa in 2015. He holds the rank of Master Builder. He has two websites: www.bitclub.co.za and www.bitclubblog.com  and co-administers a fast-growing team around the world. Anyone wanting to join BitClub Network as a paid member must register as a free member first. If you have already been introduced to BitClub, you should register under that person, assuming that he or she has a good understanding of the business. This person would then constitute your upline sponsor. If you don’t have anyone to register under, you’re welcome to use either one of the following links:  https://bitclubnetwork.com/bitcoingerard/signup.html or https://bitclubnetwork.com/willard/signup.html    Gerard can be reached on +27 83 444 9888 and on gerard@kavonichone.co.za and more@bitclub.co.za 

 

Add Comment

Your email address will not be published. Required fields are marked *