The markets are unstable, Segwit is coming, some dude on Youtube said some scary stuff......Sooooo is it time to give up on Bitcoin ? The answer - Hell NO!
I saw on John McAfee's twitter today that he thinks BTC will hit $500,000 in the next 3 years! One of the directors at Paypal is estimating $100,000! Wall Street experts are saying $55,000 in five years. Those are some serious figures. If correct anyone who can HOLD their BTC will be set for life.
So the question then becomes how do you get ahold of as much BTC as possible as soon as possible, because remember at 21,000,000 that's it no more to mine. Well, ok so the algorithm makes it so that the last coins will probably be mined in the distant future, you cannot ignore the fact that the difficulty is increasing exponentially. Satoshi mined the first BTC on his PC, but those days are long gone. Now we have warehouses full of miners in China that the home miner must compete against.
So how do we get our hands on BTC? Well good question. If the prices really go that high in the future then even the Bitcoin Faucets will have been worthwhile, albeit a complete waste of time and sanity now.
Buying Bitcoin using fiat money can be damn tricky, especially if you don't have USD on hand, like here in New Zealand. However if you are in a position to make easy deposits then hitting the exchanges during the next low if probably a good route.
Invest in Altcoins and hope they explode in value and then cash out and hold onto your BTC. Not a bad idea. Check out EOS, IOTA, BTS, Ripple, and NEM they all have solid futures. I don't mention Litecoin, Dash, Ethereum, and Zcash because they should all be held onto just like your Bitcoin!
Get an ASIC miner - a potentially rewarding toy assuming the difficulty doesn't go too high too quick, those who bought in earlier this year or any time last year should certainly see a return on investment, but buying one now is a tricky proposition although if the prices go up enough then still totally worth it.......so long as you can afford to buy one in the first place and pay to run it.
Cloud mining for Bitcoin has become a tricky proposition too. The plans on both Genesis and Hashflare are quite similar.
Genesis $150 for 1 TH will give around .11 BTC after a year but let's not forget about the $.28 a day maintenance fees!
Hashflare $120 for 1 TH will give you around .11 BTC after a year, fees are $.35 a day, slightly more profitable than Genesis.
Also we must consider that they are lifetime plans so you will get a pay out in the second and potentially even the third year but it will be quite small. If the price goes up dramatically as predicted then yes these plans would pay off. Because let us not forget that by today's rate .11 BTC on the open market would cost $250! So assuming that after 3 years you end up with .17 or .18 then you are really winning.
How I have decided to get my BTC is with Hashflare's Scrypt Mining contract. Why? Well, it pays more!
For $135 you get 10 MH of Litecoin mining power which then auto converts into BTC. So this will buy you around .12 BTC before fees, which are much less at only $.10 per 10 MH. So I keep more of the BTC earned. Also it is again a lifetime contract which will yield higher payouts in the coming years as the difficulty of litecoin is not yet anywhere near that of BTC. This coupled with the fact that the price of Litecoin largely tracks with the price of BTC it is a quite powerful and solid investment.
So what are you doing to get BTC? Do you believe the price speculations? Will you be strong enough to hold?
Again I can't recommend Hashflare's Scrypt Contract enough, if you aren't mining with them already click on the link to get started. https://hashflare.io/r/4B0EA9A
If you are planning on purchasing any mining contracts on Genesis then please use my code to receive your 3% discount.
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