As I have been learning about cryptocurrencies, I have had trouble with understanding the value of a cryptocurrency. I have been better able to understand some cryptocurrencies that provide tangible value such as Ethereum, Cardano, and Jasmy.
I was very skeptical about Bitcoin, but am less and less skeptical as I learn more about it. A comment on one of my earlier articles regarding Bitcoin got me to read more about it. I like the idea of Bitcoin as a store of value. This article https://www.nasdaq.com/articles/bitcoin-is-a-store-of-values outlines some of the reasons Bitcoin is a store of value. It has helped me process and understand it better.
I know in general, anything that is valued by someone has value. Gold for example has been valued for thousands of years, and has been long held a store of value. The rich in the world buy art and other collectibles to store and grow wealth as the value of those items typically increase over time. This will happen to Bitcoin, and today's surprising price will likely be looked as a steal in the long run.
To me, and to many not understanding things keeps us from making good long term decisions about our lives. Man, I wish the first time I heard about Bitcoin I would have put $1000 into the $5 Bitcoin at that time. What an investment that would have been.
The world is everchanging and evolving and it is going to be a digital future. Many skeptics thought the internet and dotcom boom were just fads. They were not and are not. Cryptocurrency as a whole is not a fad, just part of the future. If a person invests in the right one, they will be lucky.
