In this one we’re going to be talking about Bitcoin, and if you should be investing in Bitcoin in the year 2017.
Before we start digging here into the reasons why you should invest in Bitcoin, let me give you some background and some context and some ideas here as far as what I mean by investing.
If you’re reading this blog post, more than likely you are a developer and you’re trying to figure out if Bitcoin is something you should be investing into with your technology, investing in with your efforts, investing in with your time to understand how to use Bitcoin and try to figure out if Bitcoin is going to be here for the next ten or twenty years.
This is the entire point of this video, here. I’m just going to give you my thoughts here on Bitcoin, specifically, if you should be investing in Bitcoin not just financially, but also in your development stack.
I’m assuming here that you know how Bitcoin works. You know essentially how Bitcoin works at its fundamental core. I’m not going to go over the basics here. My idea here is to give you a quick glimpse of what’s happening with Bitcoin. One of the reasons why I actually got motivated to create this blog post specifically about Bitcoin was because one of my family members actually was talking about Bitcoin. I don’t come from well-educated college graduates with Ph.D.’s backgrounds.
Most of my family are immigrants. Because they’re immigrants, their education level does not expand above sixth grade. That just gives you an idea of how the mainstream of people is actually aware of Bitcoin. It’s getting to a point where pretty much the masses are trying to figure out if they should be learning more about bitcoin or how bitcoin works.
Pretty much this entire blog post here is to tell you that Bitcoin is pretty much at this point mainstream.
You can see the value of Bitcoin right now is up to $1250 per Bitcoin, which is pretty amazing because just a couple of years ago, 2015, you could have got Bitcoin for about $200. You can see here $229 on April 20, 2015. If you fast forward another year here in 2016, you would have gotten the same Bitcoin at roughly $454. Not bad, I mean you almost double your money. As you see here, we’re just trending all the way up. 1,241 with 49 cents right now. It’s not too bad. I mean, if you want to invest in it monetarily, again that’s up to you. I’m not here to give you consultation as far as you should be investing in Bitcoin. But you can see this thing is trending up. Now, will this traction continue? I don’t know. I don’t know the future, right? You can’t predict this kind of stuff.
I want to go ahead and leave you with that idea, that Bitcoin is getting pretty mainstream.
Bitcoin is getting to the point where not just technical people are knowing what Bitcoin is, a large amount of the main population actually using Bitcoin or thinking about Bitcoin, or learning more about Bitcoin. That’s essentially the point of this blog post, is to get you thinking about how you can start integrating Bitcoin within your own current software systems.
If you’re taking payments online, should you be integrating Bitcoin? If your customers are actually talking about paying you with Bitcoin, how are you going to set Bitcoin as an actual payment transaction? How do you exchange one Bitcoin to another? How do you send Bitcoins from one person to another? Start thinking about all these different ideas from your development point of view. That’s the entire point of this blog post, is to get you thinking how you can start investing in yourself to be able to think about the processes that are going to have to be in place for you to be able to understand how and when to use Bitcoin in your own software applications.
I don’t really care if you invest in the value of exchange of dollars for Bitcoins. I don’t care about any of that. What I care about here is that you’re actually going to be investing in Bitcoin from a technical standpoint. Again, you’re going to be investing into it from a technical standpoint, not just monetarily. I want you thinking about that.
If you have any questions for me, you can contact me up at codewithintent.com/question. I’m happy to answer those questions you have for me, even if it’s about crazy things like Bitcoin.
Talk to you in the next time,
Rick H.
I always had a passion for the field of STEM (Science, Technology, Engineering, and Math) and I knew I wanted to do something to make a difference in the world. I just didn’t know where to start. I was an immigrant in a new country, grew up in a tough environment, and wasn’t sure how… Read More
