The answer is it all depends on who you ask. When crypto currencies were first introduced in 2009 it was something so completely new that very few people even knew of its existence. A currency that is not regulated by a third-party like a bank, that is global, that can be verified on each transaction, that is instantly transferable. It can allow you to be anonymous and there will be finite with 21 million Bitcoins only being produced. The technologically is advanced and safe to use.
Sounded too good to be true or at least it must have pitfalls. As with anything untested and new it did but not with the concept and programming but with the usual fault of man, Greed, there will always be someone trying to beat the system.
However, it did not take long before the security and imperfections were put right. The Bitcoin started to rate as an investment due to its worth being realized by more and more people. Thus started a supply and demand increase that has seen a remarkable rise in its value.
Why Bitcoin Investments Are A Good Idea
Governments have to balance their books and do this in a number of ways. They borrow from other countries or a world bank, they print lots more money which is called quantitative easing. Higher taxes, cut backs all sorts of different ways and the outcome is that most governments have a struggle not going further into the red.
It means that interest rates are and have fallen for a long time. Gone are the days when you could get 6,7,8% on your savings. Indeed now with inflation the actual worth is decreasing and our standard of living is falling. There are many investments that would have made a substantial profit if we had invested in them over the last few years.
The top investments all being technology based like google, apple, Microsoft etc. So let us look at Bitcoin over this period and see if it would have been profitable. The first Bitcoin was introduced in 2009 and cost $0.0025 and today a Bitcoin is worth $10,500.
If you had the foresight then would have been the best investment ever.
The reasons it has grown so rapidly are linked to its acceptance by most world governments. In some parts of its regulation particularly in the gaming industry where it has made a major impact. Because of its uniqueness and potential, people with foresight like Bill Gates have sung its praises as the future. He thinks its meteoric rise will continue for a little while yet.
Perhaps the people who say it will never last are just sore losers. Whatever you decide investment is always a gamble. Much depends on the amount you have to invest as to what is the best option. Bitcoin could be part of one gives a much better chance of making money than hoping savings rates are going to suddenly improve.