Q: "Isn't it too late to get in at this point?"
Absolutely not. In fact, this is the perfect time to get in. Granted, it would have been nice to have been one of the very first adopters. But you need to remember that it was very difficult back then and pure speculation for the first six years or so. Only the last few years have we seen the huge developments that make it safe and easy to purchase Bitcoin and trade in the latest cryptocurrencies. We are sitting right now in the sweet spot, just before the rocket takes off and heads to the moon.
Q: "What if I can't even afford one Bitcoin? Is it still worthwhile to invest?"
No one says you need to own a full Bitcoin. Indeed, there will only ever be 21 million of them. So most people will never own an entire Bitcoin — certainly not when the price of one goes through the roof. But unlike a dollar, a Bitcoin can be divided effortlessly into the smallest of slices. People will one day routinely transact in millionths of a Bitcoin (a "milli-bit"). Right now your best bet is to get in wherever you can get in, even if it's only a small fraction of a coin. In fact, don't think of it as "a coin" at all. Think of it as an investment account. You want to get whatever you can get invested before we see the massive surge in price over the next year. Again, it's a rocket. You just need to make sure you are on board.
Q: "Shouldn't I instead invest in inexpensive alternate digital currencies?"
Not necessarily. Most of those are fly-by-night coins that won't even exist a year from now. Only a few are worth investing in (the ones with the greatest utility and real-world uses), but those are all highly speculative still, largely unproven. You'll learn which to move into (and when) in Blockchain Bottom Line. But the starting point should always be Bitcoin.
Q: "What strategy do you need other than buy some Bitcoin and hold it?"
On the one hand, if you simply have a great deal of money to invest, that might prove a perfectly sound approach. However, for most, the idea should be to get some Bitcoin ... and then leverage it through intelligent selective forays into alternate cryptocurrencies ... then collect your earnings to bolster your Bitcoin holdings over time. It's also important to keep in mind the immensely important issue of crypto security. If you aren't setting up your positions properly and handling your private keys like a pro, you could be putting everything you invest at risk. Blockchain Bottom Line will remove that risk.
Q: "How secure IS Bitcoin? What's to keep it from being hacked?"
The mathematics behind Bitcoin literally make it the most secure form of currency ever devised. Add to this the fact that in order to "hack" Bitcoin someone would need to literally hack 51% of all the computers hosting the Blockchain worldwide ... at exactly the same time. If that sounds impossible, it's because it is. Your credit card can be stolen; your bank account can be hijacked; but with the right security protocols in place, your Bitcoin will be the safest asset you ever own.
Q: "What if the government outlaws Bitcoin?"
The fact that Bitcoin is hosted on computers all over the world makes it impossible for a government (ANY government) to shut it down. A government could of course make it more difficult to move money into and out of Bitcoin — but this is precisely one of the reasons Bitcoin is so vitally important. The more pressure governments put on Bitcoin, the more valuable it will become to all those who are using it.
Q: "What if all the computers go down?"
To bring all the computers down worldwide would involve an event of such magnitude that civilization itself would be at risk of collapse. But should that ever happen? Bitcoin would actually survive — because the entire blockchain is being stored on a satellite orbiting the Earth. Seriously.
Q: What’s so wrong with banks? What’s so wrong with Western Union and PayPal? What’s so wrong with credit cards?
Lots of things. And you'll learn about many of the problems with the current centralized systems in the training. But here are two of the most obvious problems: First, when someone else (a bank, a company, a government) controls your money ... it's not really your money. It's certainly anything but private. Second, within the current systems the transfer of funds is costly. So costly, in fact, that for many people in the world sending money to family members in other countries is all but impossible. And very small transactions are impossible. Consider how different the world will be (and the effect on the popularity of Bitcoin) when micro-transactions become the norm. Right now you can Skype someone across the world and talk over the internet by video conferencing for free. But you can't send someone you admire on YouTube even 5 cents as a tip. Cryptocurrencies change all of that.
Q: Where do I actually spend my bitcoin?
In most cities you can purchase any number of things privately with Bitcoin (cars and houses, even). But apart from such one-on-one local transactions, already there are companies online accepting Bitcoin as payment. Even some quite large ones, like Overstock.com. And over the years ahead we are going to see more and more joining the crowd. It's a smart move, too. Because the earliest adopters will be acquiring Bitcoin while the price is comparatively LOW. (Overstock, for instance, has a policy in place where they are deliberately saving 50% of all the Bitcoin they collect as payments. You can imagine how valuable those holdings will prove in the years ahead.) Online services will prove one of the most likely early adopters to accept Bitcoin. But ultimately, it could very well end up that Bitcoin evolves to serve primarily as a store of value, like blocks of digital gold, while some other cryptocurrency (something lighter and faster) becomes the unit of currency we employ in day-to-day transactions (buying a cup of coffee, ordering a book from Amazon, etc.) You would then convert your Bitcoin holdings into the other currencies as needed. It's all still coming together. Which is why these are such exciting times.