My Journey into Bitcoin and Cryptocurrency

I first heard of the Bitcoin like most when Silk Road, the eBay/Amazon of the drug world run by Ross Ulbricht, was shut down in 2013. All I knew was that drug dealers were using Bitcoin to purchase drugs from the website Silk Road and that it was super hard to be caught doing it. And that was that. I had always associated Bitcoin with something a little shady.

Fast forward to the end of 2016 and I listened to the Joe Rogan’s Podcast with Andreas Antonopoulos. It was an interesting listen and I briefly looked into Bitcoin and blockchain technology. Kind of understood it, didn’t really think much of it. Checked the price of Bitcoin, around $750. Should I buy some? No, I don’t know enough about it and remember that Silk Road thing…

August 2017, I listened to the Tim Ferriss podcast with Nick Szabo (who is suspected to be Satoshi Nakamoto) and Naval Ravikant which further peaked my interest. Went through the same process again: Did more research. Checked the price of Bitcoin again.

Around $4000… well I f**ked up.

It then continued to rise further (with some highs and lows) until finally I bought some Bitcoin in November for approx. $7800. Little late to the party but hey ho!

Now that was 19 days ago from the date of this post…. Bitcoin has surged well past $10,000 and according to CoinMarketCap.com the price of Bitcoin has just past $15,000.

I am by no means an expert in Bitcoin and I did not invest masses of money into Bitcoin but I am pretty happy with my return thus far, but imagine if I had the balls to invest when it was $750 that return would be awesome!!

Now although my return on investment for Bitcoin is pretty good currently that is not what excites me about Bitcoin and cryptocurrency. The amazing applications blockchain can be used for is and the overriding concept of decentralisation and having control is the exciting.

And it is becoming more and more mainstream. People are talking about Bitcoin in the general population. The Sun newspaper (for those of you that are not from the UK, The Sun does not exhibit the greatest form of journalism) is talking about Bitcoin and other cryptocurrencies such as Iota. The Sun, that is famous for its page 3 girls, is talking about cryptocurrency.

The more I look into cryptocurrency the more I am impressed by the innovation coming out of this world. 2017 has seen a massive explosion in cryptocurrencies and it is very exciting. I have no idea where it is going to end up but with people predicting Bitcoin to reach $40,000 it something I will certainly pay close attention to.

Will

Podcasts listened to:

Joe Rogan and Andreas Antonopoulos - Episode 844

Tim Ferriss with Nick Szabo and Naval Ravikant