The recent rise of Bitcoin marks the first widespread use of a virtual currency in the real world. As we see it, humanity is standing at the beginning of the decline of government-issued fiat currencies.
We strongly believe we are witnessing a historic “paradigm shift” in currencies. Once people realize the benefits, they will switch to using crypto-currencies and stop using fiat currencies wherever possible. The shift to crypto-currencies will surely take time, but the first battles have already been won by Bitcoin.
Everyone will be part of this transition, but you are lucky enough to be aware that it is happening now, and we are only at the beginning stages. Your potential for personal profit is immense.
For example, a few years ago, you could have bought 1,000 bitcoins for just 1 U.S. dollar. Now, a few years later, at the time of this blog post, you could sell those same 1,000 bitcoins for US$750,000.
A historic change is happening. Whether you recognize it, and whether you take action is your choice. Like most major shifts in human technology, many early adopters will become rich, while those who “arrive late” will stand to actually lose net worth.
Whether you decide to get in early or not, we predict you, and most people, will be using some form of virtual currency within 4 to 5 years, if not sooner.
Ignoring the Detractors
There will always be people driven by hatred and distrust. People who cling to the past — afraid of the future. People who sneer at innovation because it’s easier than learning something new. Those people will be the last adopters of virtual currencies. They are also the most vocal opposition to virtual currencies today.
In the beginning, many people called Bitcoin a scam. Even today, despite its huge success, there are many people who still call it a “scam”, a “pyramid”, a “ponzi”. None of those accusations are true. Most of these people simply don’t understand the new paradigm and people fear what they don’t understand.
This will always be the case with innovation.
Ignoring the detractors is critical if you want to profit from the rise of virtual currencies. Listening to them will only drain your courage and leave you sitting in the same boat with them once the opportunities have evaporated.
Bitcoin Opens the Door
Bitcoin is the first virtual currency to gain widespread attention and growing acceptance around the world. Bitcoin is known as a crypto-currency because it uses a cryptographically secure, peer-to-peer, distributed network. This technology allows Bitcoin to operate without central servers, making it nearly impossible to shut down without the consent of all bitcoin holders.
The success of Bitcoin is opening the door for widespread acceptance of virtual currencies. Bitcoin has proven to many people that a virtual currency can be more desirable, useful and trustworthy than fiat currency issued by a government central bank.
There are other virtual currencies, aside from Bitcoin, but many of them simply don’t have what it takes to succeed.
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