I have always been interested in Bitcoin. In the beginning, I didn't understand it, but once I started looking more into how it worked, something clicked and I saw the value in it. Bitcoin runs on a blockchain which is a digital ledger that can't be manipulated because it is verified by many people. I've heard people compare Bitcoin to how email is to the internet, Bitcoin is to the blockchain. Bitcoin is a digital currency that runs on the blockchain. It is not controlled by any organization, government, or individual. It is a way to transfer money instantly, person to person, anywhere in the world without the need for a central authority.
The most valuable commodity I know of is information.
Gordon Gekko
Buy
One dollar can break into 100 pennies, one Bitcoin can be broken into 100 million Satoshis. Most people think they are not able to afford a Bitcoin since it's surge in price over the last couple of years. While it's true, it wouldn't have been a bad idea to purchase in 2015, but you don't have to buy a whole coin. So if you want to get your foot in the door, you are not obligated to a whole coin like Gold. You can purchase any dollar amount of Bitcoin. If you don't any, I recommend picking up some and gradually growing your account. The easiest way I know to purchase Bitcoin for a beginner is through Coinbase. Keep in mind, they tend to have higher fees, but they have a good user experience and reputation.
Ether
Ethereum is a newer cryptocurrency that also runs on the blockchain. The difference from Bitcoin is that you can build what's called smart contracts within the Ethereum ecosystem. For example, you can build a fantasy sports league within Ethereum. You can write a smart contract where everyone pools their Ethereum for the fantasy league and payouts automatically trigger and no one can stop it from happening. Microsoft, Intel, and JP Morgan are working together on a project within Ethereum and are partly responsible for the price increase over the last year. Technically, you could even use a smart contract to rebuild Bitcoin within Ethereum. The possibilities could be endless, and the user would be able to integrate other apps inside of Ethereum on their own.
Alt Coins
Every day there are new cryptocurrencies and blockchain technologies being built. There are new cheap up and coming coins that you can acquire cheaply. You can find an exchange like Poloniex or Bittrex to purchase many different coins to hold for the future. It's always smart to use Two-Factor Authentication on your trading accounts to have a little more security. Whenever you here a hack happened with Bitcoin, it's not Bitcoin itself, it's the exchanges that sell them. If you're interested in getting started just be careful. Also, there are many cryptocurrency scams out there because of the limited regulations on it. Which is great because there is freedom to develop amazing blockchains, but you just have to investigate before you put money into anything. When I first started with cryptos, I got sucked into cryptocurrency casinos and HYIP scams. Any site promising 10% returns every day is eventually going to stop paying. I know from it happening to me on multiple occasions, eventually. I learned my lessons and moved on.
Knowledge
After learning about Ethereum, I found Steemit.com. I started here back in July when it was only a few months old. It was a crazy time back then, no one knew if Steem would make it. Everyone doubted it and called it a scam. I saw past all of the naysayers and thought it was such a great idea and still do. I had a lot of fun writing posts on the platform and earning my Steem coins for the value I produced for the community. Steem has had it's up and downs, but obviously, it's still here today and generating content and value for the world. I'm happy I found the amazing world of cryptocurrencies. It's literally changed my life and my perspective on things.
Vision
I do believe blockchains are leading us to what is to come in the future. There are companies already working on decentralizing the internet. As more and more mainstream social networks start pushing for censorship and preventing information from spreading, it will move people towards decentralizing information. Information should be free and clear of being censored. We were taught that Nazi Germany would burn books to prevent people from obtaining knowledge. Internet censorship, even if considered "fake news" should not be censored at all. Not everything on the internet is legitimate information, but if we start blocking those sources, who knows what other sources will be blocked from public viewing. Censorship is a dangerous road to go down. With our reality becoming merged with the digital world and virtual reality technology becoming more advanced, the blockchain is going to allow everything in our lives to integrate with each other.
Tangible Assets
I still like physical commodities like gold and silver, but I feel as if cryptocurrencies are the direction we are heading. All fiat currencies around the world are going to collapse eventually, the system is rigged. Something is going to have to replace it. There is already a large community of people using cryptocurrencies. US banks are starting to exchange them, countries are accepting them as currency, and big companies are investing in them. Most people are unaware of the change that is coming to our lives. I believe people who are stuck with fiat currencies are going to struggle in the coming years. The Federal Reserve in the United States is already on schedule to raise interest rates in June. This may cause a little skyrocket in the price of cryptocurrencies. Time will tell, but if you own cryptocurrencies already, it's been a good last few weeks.
