Bitcoin has and will continue to change the world in the coming years, after years of growth and controversy, the world’s most popular cryptocurrency is showing no signs of slowing down…
Here are 10 quotes from famous and influential people discussing their opinions and views on bitcoin (BTC)…
10 Bitcoin Quotes By Famous People & Tech Billionaires
- #1) “Bitcoin is a techno tour de force.” – Bill Gates
- #2) “Bitcoin is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value.” – Eric Schmidt (Google CEO)
- #3) “Bitcoin is a very exciting development, it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets.” – Kim Dotcom (CEO of MegaUpload)
- #4) “We have elected to put our money and faith in a mathematical framework that is free of politics and human error.” – Tyler Winklevoss (Co-inventor of Facebook)
- #5) “Bitcoin actually has the balance and incentives right, and that is why it is starting to take off.” – Julian Assange (Founder of Wikileaks)
- #6) “I really like Bitcoin. I own Bitcoins. It’s a store of value, a distributed ledger. It’s a great place to put assets, especially in places like Argentina with 40 percent inflation, where $1 today is worth 60 cents in a year, and a government’s currency does not hold value. It’s also a good investment vehicle if you have an appetite for risk. But it won’t be a currency until volatility slows down.” – David Marcus (CEO of Paypal)
- #7) “I think the fact that within the bitcoin universe an algorithm replaces the functions of [the government] … is actually pretty cool. I am a big fan of Bitcoin.” – Al Gore (45th Vice President of the United States)
- #8) “Bitcoin will do to banks what email did to the postal industry.” – Rick Falkvinge (Founder of the Swedish pirate party)
- #9) “I do think Bitcoin is the first [encrypted money] that has the potential to do something like change the world.” – Peter Thiel (Co-Founder of Paypal)
- #10) “You can’t stop things like Bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust.” – John McAfee
Should I Invest In Bitcoin?
If you’re interested in investing in bitcoin, you’ll first need to sort yourself out with a bitcoin wallet – I use Paxful. Once you have a bitcoin wallet setup, you can then connect your bank account to the wallet’s provider – in this case, Paxful – and use its exchange to buy bitcoin.
You can buy $10 or $10,000 of bitcoin, it is entirely up to you. My advice, however, as someone that has invested thousands of dollars into bitcoin would be to start SLOW and SMALL.
Bitcoin is super volatile, so you want to bide your time and buy bitcoin only when the market is appropriate. If the price of bitcoin is going through the roof, that is not the time to buy – you want to sell when the price is high.
When the price comes down or bottoms-out, that’s when you buy bitcoin. Buy low, sell high – it’s a simple maxim that works with stocks and cryptocurrencies like Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Basic Attention Token (BAT), 0x, (ZRX) and USD Coin (USDC).
The bull has now bolted on bitcoin, however, so the glory days of making SERIOUS money with very little risk are well and truly over. But that’s OK, there’s still plenty of growth and value left in bitcoin for savvy investors.
For instance, say you have a spare $1000 laying around and you want to invest it. Right now, it’s just sat in the bank doing nothing. But if you used that $1000 to buy bitcoin – or another crypto – and you hold it for the long haul, it could grow into a pretty tidy sum in not too much time.
The value of your bitcoin will fluctuate, moving up and down, but, if the market stays as is, you will stand to make gains in the long run. The value of cash is essential nil right now, so I’d much rather be holding $1000 in bitcoin than cash in the bank.
All you have to keep in mind is that investing – either in bitcoin or the stock market – is a long term business. You don’t get it into it to make quick bucks. You do it for the long haul to generate liquid assets in the medium to long term, so anywhere from five years from now to 50.
Learn How To Buy Bitcoin
If you need advice about getting into bitcoin, I would strongly advise you check out this course – it covers everything related to bitcoin, the blockchain, and how to get started with investing in bitcoin.
The Paxful Wallet For iPhone App
Once you have a decent grounding in what makes bitcoin tick, get yourself a bitcoin wallet, join up with an exchange, and start buying and selling bitcoin or other cryptocurrencies.
As noted earlier, I use Paxful because it has both an exchange, where you can buy and sell bitcoin and other cryptocurrencies, and a wallet for iPhone, so you can basically do everything under one roof. And for me, this is the perfect way to buy, sell, and manage my bitcoin investments.
Richard Goodwin has been working as a tech journalist for over 10 years. He is the editor and owner of KnowYourMobile.