You should buy some bitcoins now (july, 8 2013)

Since now, I bought bitcoins for those reasons:

  • First to learn. I always thought the easiest way to learn about something is to experiment with it. And with my first bitcoins (bought at $2 and then at $5.5 each) I learned the basics: where to buy bitcoins, what is a transaction, what is a confirmation, what is mining, what is the bitcoin economy. I tried 5 bitcoin clients: web, mobile, native. I Wrote some scripts and plugins, I installed woocommerce + bitcoin plugins to test the ease of opening a bitcoin eshop. I read bitcointalk.org to learn more about projects, IPO, economy.

  • A dream: my life without being a bank customer. Because to live in any developed country, you must be a bank customer. I’m 99.99% sure that dream will never come true, but at least if I could avoid Paypal, VISA, Mastercard that would be great.

  • I want bitcoin to be the future of money. if you want that, you should start using bitcoin and contribute to the economy by selling and buying things. I was pleased:

    • to pay for Reddit Gold with BTC
    • to buy my last Humble Bundles with BTC
    • to sell and buy stuff on http://www.bitmit.net
  • To spread the word: give small amounts to your friends and family. It works, my friends know about bitcoins and some of them own bitcoins.

After that, I started to work for bitcoins, I’m a software developer working as freelance. I found a couple of contracts paid in bitcoins.

And I sold some because:

  • When you’re paid in bitcoins, you still need to pay the bills and taxes in $/€/¥ depending where you live.
  • I needed some cash to travel (it’s hard to find hotels and restaurants that accept bitcoins in China)

  • I did arbitrage, that implies to buy and sell bitcoins. I earned some BTC by doing this and it helps exchanges to stay aligned.

If I had cash, I would buy some today as an investment. When I write “investment”, that does not mean: “to sell later at a higher price”, that means: “to don’t have to buy them later at a higher price”. No one knows if it the good moment to buy, but the price seems low compared to the growing economy, the number of future bitcoins startups ready to launch and the very fragile banking system the world has.