Are Cryptocurrencies the way forwards?
As cryptocurrency is becoming more popular, here's our thoughts
With Facebook investing a fortune in ‘Libra’ and now rebranding as a ‘Meta’, it got me thinking about Cryptocurrency.
I’ve been interested in the cryptocurrency space since around 2017 when a friend introduced me to something called ‘Bitcoin’.
My response was pretty standard – ‘What’s Bitcoin? Why should I care about it?’
He proceeded to explain roughly what it was (can anyone fully explain it?) and why it might be an interesting investment for the future.
I had a quick look and saw that a ‘Bitcoin’ cost circa £2,000. No thanks - £2k for something that exists on the internet created by god knows who (who is Satoshi?!?). I obviously hadn’t realised at the time that you could purchase a fraction of a Bitcoin.
So there was something else called ‘Ethereum’ and ‘Litecoin’.
I had no idea what they did – however they were ‘cheaper’ so I though I’ll spend a little and hopefully learn allot.
The next few months were a total rollercoaster in terms of learning watching the market playout into a huge bubble then a subsequent crash.
Fast forward a few years and I’m still interested in Cryptocurrency and follow it keenly. We have large corporate purchasing and a brief moment where a certain car manufacturer accepted Bitcoin as payment. The upcoming NY Mayor wants his first 3 months of salary to be paid in Bitcoin.
We are moving to a digital world and digital payments. I find it fascinating.
What’s your experience of cryptocurrency? Do you like it? Would you be happy to be paid in Bitcoin?
I’d love to know.