This is a question that people have been asking themselves, since the beginning of the crypto revolution.
Is it too late to invest in Bitcoin?
I will come right out and say it, just so you know my opinion while reading the rest of the article. No, it is most certainly not too late to invest in bitcoin. The rest of the article is a brief elaboration on why it is not too late. In fact, I take the opposite standpoint, and declare that anyone who invests in bitcoin right now, is extremely early to bitcoin.
The Internet of Money
If you've not read this quote anywhere on the internet yet, then allow me to introduce you to an analogy that I believe summarizes the impact that bitcoin is having on the planet.
What the internet did to information, bitcoin is doing to money
All me to elaborate on this quote for a deeper understanding, and how it relates to the question of whether or not you're "too late" to invest in Bitcoin. The internet is approximately 60 years old if you consider the early 60's as the earliest remnants of hyper-connected devices. A more conservative, (and popularly accepted) estimate for the birth of the internet was when it was heavily commercialized in the early 1990's. That puts the age of the internet at 30 years old.
Not only do I think it is early to invest in Bitcoin, but it is early to invest in the internet. Every person living on the planet right now are early adopters of the internet. What the internet actually did, was allow individuals to trade, transfer, and share information on a global scale, at the speed of light. When we examine what bitcoin is doing, it is allowing people to trade, transfer, and share value on a global scale, at the speed of light. Therefore, the if the base internet is the internet of information, Bitcoin is the Internet of Value or Money.
11 Years and Counting
Bitcoin has eleven extremely strong years of growth under its belt. It is important to contextualize bitcoin on the scale of human civilization, as it is an invention in money technology that is completely unparalleled. The novel features it brings to money in general are complete game changers for the "modern" economic landscape. The the most important aspect (general acceptance by "The People", read more in my previous article) being unmatched by any other cryptocurrency project. It is reasonable for us to assume multiple things about the future.
- The internet will stay on
- We (the globe) will continue to advance the creation, and establishment of hyperconnected devices (Phones, PCs, IoT)
- Governments will continue to print money in order to finance their heavily bureaucratic and debt ridden establishments
- Every person on the planet will have a strong internet connection by 2050
When you zoom out, and look at bitcoin with the following (reasonable) assumptions in mind, then questioning whether or not you are too late to invest in bitcoin is very shortsighted. It is like questioning whether or not you're too late to invest in the internet in 1992. You are simply not looking forward far enough.
A Flawed Narrative of Inaction
After helping countless individuals establish themselves with a wallet, and some bitcoin, the most common narrative that we need to dismantle is the following.
1. I don't want to invest in bitcoin because the price is too high, then the price falls and the reason becomes
2. I don't want to invest in bitcoin because the project is dead, and it isn't going anywhere
So if people don't invest when it is high, and don't invest when it is low, then when will you buy bitcoin?
This is the general lack of a plan for the future, coupled with the inability to zoom out. Who cares if you buy bitcoin at $16000, when 30 years from now the price is well over $100k per bitcoin? The lack of a plan, and inability to see into the future is the number one reason why people don't invest in bitcoin, despite knowing about it, and being able to articulate the benefits.
Tune in to the Podcast for a Discussion on This Topic
Ultimately, this topic was inspired by a mutual friend of myself (Keegan Francis) and my co-host Mrugakshee Palwe. We were sitting in a cafe, and this friend walked up to us and complimented us on our podcast. This was the coolest interaction I had in a while. Our podcast audience is global, and so having someone local tell us how much they're benefitting was really rewarding for us. The last thing they said to us was "I wish I got in sooner". Therefore, in episode 25 of the Go Full Crypto podcast, we cover this topic in depth in an effort to have our audience contextualize the bitcoin revolution on the scale of years, decades, centuries, and millennia rather than weeks, days, hours, minutes, or even seconds. While everyone is looking for a quick buck, Go Full Crypto is looking to establish not just the downpayment for our house, our children's education fund, and our retirement savings.
Piece of Advice
Go against the grain. Think in Years, and Decades. Not Minutes and Seconds.
The Go Full Crypto Vision
We want to help people opt-into the world of cryptocurrency, one dollar at a time. In order to do this, people must need a reason. They need their own "why" behind discarding their government currency for the world currency of the future. Go Full Crypto is putting out content to help people discover the reason why they want to get involved in cryptocurrency.
If you like our content, and want to see us produce more, consider donating to our podcast. We are ad-free and would like to keep it that way.
BTC - 1H3mLLktD8hhaZCKfVKrgF2fRSYYbnsptC
ETH/ERC20 - 0x7E51bd8BBb9B85A477F3244a29290E2F579A2bAa
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