Bitcoin is most likely a bubble but we do not know which “phase” of the bubble we are into!
NOTHING CAN KEEP ON INCREASING FOREVER. PERIOD
This means that this time can be just the end of the bubble and we can soon see it bursting or it will expand further to say $40000, or even $100000 (yes, some people are predicting such targets of the coin!).
But imagine this, even if it goes to a level like $50000, how much can you expect to earn? ONLY 5 TIMES
The reason I said only 5 times is because if this is the end of the bubble, you may loose ALL your money for 5 times return which you can anyways earn with other instruments like shares (although it may take more time to give such returns).
What to do now?
Diversify and find alternatives.
There are over 1300 coins like bitcoin and some have potential to grow exponentially like bitcoin did till now. These coins are cheap so we can assume their bubble is in initial phase right now.
I have also tried to focus on coins which are NOT just in money transfer domain but have other applications.
I am doing cryptocurrency investment using this approach. You can follow if you like.
(Disclaimer, I have invested in all coins I will write below. Well, why would I suggest you a GOOD investment without investing myself? 😀 )
I have invested in the following:-
- Rupee cryptocurrency:– Focused on South Asian countries with special focus on India. Can be called Bitcoin of India. Hello World, Meet the other Rupee
- Viuly:- Youtube killer. This can be a true hidden gem. Currently very cheap. Unlike traditional video websites like Youtube, Viuly.in pays content creators AS WELL AS viewers for taking the time to watch the video and ads. This YouTube Like Website Pays You To Watch Videos
- SIA Coin:- DROPBOX Killer. Another gem in the sea of cryptocurrency world. Why do you want to pay for the ever increasing data storage prices? Also, is it safe to keep all your data with private companies? Why not keep it encrypted on a huge set of computers linked to the network? Confused about the technology? We used similar technology with torrents! Wasn’t it safe? This is similar technology yet powered by blockchain. This Dropbox Killer Cryptocurrency Is A Must Buy
- SYSCoin: Amazon killer: Imagine an ecommerce which focuses on not talking commissions from the sellers rather give them incentives? Worth your attention? Introduction to Syscoin – The Amazon of Cryptoworld
- GameCredits: A HUGE MARKET. They are trying to be THE COIN of the gaming world. So, you play temple run or NFS or chess or Counter strike, you can use the premium facilities using this coin. All you need to know about GameCredits cryptocurrency
- REDDCoin: You like my post and want to buy me a coffee (I rather prefer tea :P) or gift me something as a courtesy rather than just liking, or retweeting or upvoting it, how will you do that? Well, no need to pay me, thank you. But Reddcoin is coming handy for the same. They are talking with major social networks to add a pay/donate button. Once done, you can pay content creators or volunteers with it. Redd Coin – The Current New Wave in Cryptocurrency World
- Status: Ethereum is second to Bitcoin in terms of market cap. Ethereum is a platform that can power a lot of things. Status aims to be a front end of Ethereum. Their vision statement says, “If Ethereum is a World Computer, then Status aims to be an Operating System”. Need I say more?
Not all coins can be killer but can do their bit. Some can turn out to be true winners. Investing in cryptocurrencies is EXTREMELY risky. Invest only that money you can afford to lose. Happy investing.
An ardent observer of life’s visual rhythms & curious on the SOEs that take place in the cosmos, I jot down my mind occasionally on yet another universe of the Internet.
An Engineer by profession and nationalist by heart, I write my heart and mind on anything and everything that comes to my way. I put my ideas on politics, religion, technical, green energy, stock markets, spirituality, open source, business and anything under the God’s green earth and above that too 😉
Being a Jack of all trades, I have my say on varied subjects 🙂
Some of my articles are also published in http://articles2read.com/author/ankur-mehta/