A great topic that was the subject of last week's podcast. Listen now to hear about Bitcoin basics as well as what Warren Buffet and others have to say about its future. Keep reading for more resources on blockchain, cryptocurrencies and Bitcoin.
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Bitcoin! One of the most polarizing and emotional topics of the last few year! Bitcoin is one of about 3,000 different cryptocurrencies that are being traded. The last two weeks have seen extreme volatility in our markets which always leads back to a question about the future of Bitcoin as an asset and a currency.
Spoiler Alert!
I believe Bitcoin could have significant upside as a store of value (digital gold) and one day as a decentralized currency. It is also my belief that you should have some portion of your assets (1%) in Bitcoin but ONLY if you can handle the significant price swings. Nothing creates emotion faster than your asset losing half its value or more in a few days! And that has happened multiple times now with cryptocurrencies. The most important thing is to educate yourself on what you are buying so you can make an informed decision. Yes, even adulthood has homework...
Where it started: The Bitcoin White Paper
Eight pages that changed the world.
Super simple and creative way of explaining the problem Bitcoin and blockchains are solving
Easy to watch 6 minute video on why blockchains are cool
Bitcoin 101 with Balaji Srinivasan from Andreessen Horowitz
A bit longer (28 minute) video that answers why this Venture Capital firm believes Bitcoin is the most important technology of the decade
Documentary Banking on Bitcoin
The film shows the players who are defining how this technology will shape our lives.
This is an investment thesis on why it may make sense to buy Bitcoin as a part of a long-term strategy for wealth accumulation
Coinbase is the most commonly used platform in the US for buying Bitcoin and other cryptocurrencies
How to be digitally secure!
I hope you find these helpful and will use them as a way to answer the question of whether you should buy Bitcoin.