Some ifs and bits about Bitcoin
Will it be Around
in The Next Decade?
Just yesterday Warren Buffett has stated on CNBC that Bitcoin is not a currency.
He actually said: “It’s not a currency. I wouldn’t be surprised if it wasn’t around in the next 10-20 years.”
He also pointed out that Bitcoin is being priced off the dollar and that it is simply not a durable means of exchange.
Warren Buffett does not need an introduction, one of the richest and successful in the investment world, this 83-year-old investor probably still has some lessons to teach the most knowledgeable and well informed about his lifelong trade, but is he right about Bitcoin? Only the future will tell but maybe in the meantime we can and should prepare to be ready!
Warren Buffet, the most successful investor of the 20th century started is first investments way back in 1942. His advice today is, still, to hold on to assets instead of money and he might be right, although assets can depreciate as well as currency!
He continued to say: “American businesses are going to be worth more money. Dollars will be worth less, so that money won’t buy you quite as much, but you’ll be much better off owning productive assets over the next 50 years than you will be holding pieces of paper or, I’m not sure, bitcoins,” , he said chuckling.
Ok, I follow all of the above pretty well, but my first question is:
Isn´t Bitcoin supposed to be a, or the, currency of the future?
And my second question is: - Who remembers the US dollar being the strongest currency?
Until the arrival of the Euro in 1999 when it started to be used virtually and then in 2002 notes started to circulate, the US dollar was certainly the strongest, but ever since then, it has never been the same as it used to be.
Recently, Bitcoin has been as unstable, as being as, way up on 11-30-2013 at the rate of $1124.7631, and taking a plunge way down to $534.7108 on 02-25-2013, just a week ago; though today it´s already at $679.71, but you can check the actual amount (on the right) as you read this article.
Anything can happen with currency, any kind of currency for that matter, and nobody needs to be an expert on the subject to come to that conclusion. But the doubt remains, especially after hearing what the supposed experts on the matter say about it.
With all this uncertainty should we do something? Should we take the ride or should we stay back and watch? It really depends on each one of us. There are the ones who are totally adventurous, and there are the ones who are totally prudent, and there even the ones who are the speculators.
My advice? Remember the old saying “Don't Put All Your Eggs In One Basket”? That is what I take into consideration all the time, but I also like to prepare for the future with some ifs and bits about Bitcoin cleared up, meaning: learning as much as possible about this currency of the future, and if possible start stashing away some Bitcoins in a wallet somewhere, just in case!
So what do you think? Will Bitcoin be Around in The Next Decade?