by Ed Bugos, Dollar Vigilante:
Many readers and subscribers know that I first began recommending to get into bitcoin in 2011 when it was near $3. Most people called me crazy… some still do. It then rose to over $1,000 in late 2013 and many people felt like they had “missed the boat”.
But after rising above $1,000 bitcoin spent almost all of 2014 giving back a large part of its gains… although still staying in the $200+ area which still produced a nearly 1,000% gain from early 2013,
However, now, for all of 2015, bitcoin has been incredibly nonvolatile and has hovered within distance of $250 throughout the year.
And so, for those who felt like they “missed the boat” in 2011 don’t feel too bad. In fact, bitcoin was so new in 2011 that it was very hard to buy (you would have had to mine bitcoin to get a sizeable amount) and even harder to keep (numerous exchanges such as Mt. Gox lost most of their clients bitcoin). The entire bitcoin and blockchain ecosystem was just in its infancy stages.
Now, however, that is all about to change
BITCOIN/BLOCKCHAIN HITS ADOLESCENCE
In many ways, up until now you could describe bitcoin as being a baby from 2009 (when it was created) to 2012. And it was like a young child turning into a teen in major growing pains from 2013-2015.
And now it is finally growing up.
It was only a few years ago that one of the only places to buy bitcoin was Mt. Gox. Mt. Gox was originally a place for people to trade Magic The Gathering game cards until they realized they could use their same platform to trade bitcoins. It quickly became the largest and by 2013 it conducted 70% of all bitcoin transactions. Then through fraud or mismanagement, $450 million of bitcoin disappeared and the exchange was shuttered.
Please follow SGT Report on Twitter & help share the message.