With the price of Bitcoin rocketing past US$500, a flip of 100% within 24 hours, this is the special and right moment for me to share a personal observation.
“Selective Patience”
When one deposits money into a savings account, he/she readily accepts a less than 2% annual interest on their capital, no problem.
When one puts money into a fixed deposit account, he/she willingly agrees to forgo flexibility in return for a less than 5% annual interest on their capital, no problem.
When one buys into mutual fund or real estate for rental income, he/she happily embraces an average return of 7% to 12% per annum on their capital, no problem.
When one invest into shares, forex or commodities derivatives, he/she gracefully accepts profits or losses from his/her decisions anytime, no problem.
When one buys into Bitcoin only to see its prices go down or linger inactively for less than 30 days, he/she will scream it’s a hoax and not worth looking into.
Ok, coming to defense one would say “Not their fault, because they don’t quite understand Bitcoin.”
Yeah right, so it’s my fault then? Fine.
To those who had trusted me and got into Bitcoin the day of reckoning will come eventually.
Well in terms of profits, pretty soon, no?
Happy bitcoining!
Bitcoin Projected To Be Sixth Largest Global Reserve Currency By 2030
Bitcoin will be the sixth largest global reserve currency by 2030, according to research by Silicon Valley investment firm Magister Advisors, which surveyed some 30 block chain companies, the International Business Times reported. The research also indicates banks will invest $1 billion in block chain technology in the next few years and that the block chain will become the rails on which finance runs.
Block chain is “without question” the most important enterprise IT development in a decade, said Jeremy Millar, a partner in the investment firm. He characterized the block chain as being on a par with big data and machine learning. He compared the block chain to JAVA, saying that the block chain is to financial services what JAVA is to the Internet. Millar also noted that the block chain will be the “default global standard distributed ledger” for financial transactions.
$1 Billion To Be Invested Short Term
The leading 100 financial institutions will pump $1 billion into block chain and bitcoin related projects in the next one to two years, the research indicated. It also found that the top banks hold portfolios with 10 to 20 bitcoin-related initiatives. These include wire transfers often complemented by the storage of “meta data” in settlement and clearing.
The block chain’s potential in finance is even greater due to its flexibility and robustness, the research indicated. Potential uses include property registries, security infrastructure and direct payments.
The top private block chain firms are currently securing “seven figure” contracts with financial institutions. Some of the initiatives have proven to be robust enough to satisfy production needs and are “near production.”
Banks will be reluctant at first to change the infrastructure that manages clearance and settlement, Millar said, but they will deploy parallel bock chain processes as a result of the growing block chain investment.
Developing Markets To Adopt Bitcoin Quickly
Rising acceptance of bitcoin in developing markets will result in widespread business and consumer adoption.
The main use of bitcoin in developed markets is speculation, the research noted. The lack of volatility in bitcoin and the yield in traditional classes of assets are resulting in the creation of ETF equivalents or “money market funds.” The company estimates 90 percent of bitcoin is held for speculation as opposed to commercial transactions.
At the same time, ……
Read more : Bitcoin Projected To Be Sixth Largest Global Reserve Currency By 2030