Bitcoins…if you know nothing about them, now is the time to start learning. Bitcoins are virtual money and for awhile, they were only popular among die hard gaming geeks, and paranoid libertarians like myself.
See, Bitcoins are pretty anonymous. It is very hard to trace the source of the money and they are a rapid way to pay online, without getting calls from your credit card fraud department.
I bought my first Bitcoin in January of 2013. At the time, I was just learning about the deep web and I wanted to try out some of their more discreet services. But I was nervous about spending a lot of real money to buy ‘pretend’ money. So I played it safe.
I bought 1 Bitcoin for $14, just to test it out.
At the time, I was using a place called Coinbase. Unfortunately then ( but very fortunately now) it wasn’t until after I had made my purchase that I realized that Coinbase has a 30 day hold on all new accounts. I rolled my eyes and moved onto a different site called VirWox (still a better option if you’re in a hurry, but the fees are heavy). Then, I forgot about my Coinbase account, deciding that I would just take the $14 loss.
That half-assed decision was probably one of the best financial decisions I’ve made in my life. To show you how my investment expanded, I present the following chart.
In January of 2013, my Bitcoin was worth $14. Today, it’s worth about $835. To think, it all started because I wanted to buy some weed on the internet.
In the financial market, I think the official term for this is “holy shit! I just made an assload of money for doing absolutely nothing. Let’s go buy some hookers and blow!”
Through 2014, the Bitcoin market is expected to expand. One good thing about Silk Road getting busted was that they shined a spotlight on the deep web, as well as Bitcoins. Once people learned you could buy weed on the internet, the market for Bitcoins exploded.
And made me a hundredaire.
Bitcoins are expected to expand in 2014, because they’re only really popular in the US and the UK. However, as other countries get on board, it is very likely that they value of the average Bitcoin will go up.
Me, I’m going to sit on this lonely little Bitcoin for a bit longer. As far as I’m concerned, the most I really stand to lose was the original $14 I invested. Everything after that is just gravy.