Back in the early 90s most people were just hearing about the Internet for the first time, even though it was invented back in the 70s. It had very few practical uses and was incredibly difficult to access. But only a few years later, most of us already couldn’t go an hour without checking our emails. It took the Internet 2 decades to make it into our hearts, minds, and computer screens. The next revolution, the Bitcoin revolution is set to happen much quicker than that.
Information about Bitcoin is changing so quickly that by the time you read this, the information within will already have changed. This is the problem that CoinDesk has in trying to become the world’s leading source of information on Bitcoin and other virtual currencies. This quick post is based on their State of Bitcoin 2014 Report, which you can access here.
At the moment, less than 1000 people are holding most of the Bitcoins. This chart shows the ‘current’ overall distribution. At the moment, the general public are holding only 20.7% of all the coins.
Just like the Internet in the early 90s, Bitcoin is not very easy to access. But that is changing very quickly. At the end of 2013 there were less than 1,000 places that accept Bitcoin. Today in April 2014, there are 3,872 places where you can spend them. (You can see the current map at: CoinMap.org)
However, that doesn’t include the amount of people accepting donations or people sending Bitcoin from person to person. Check out this guy for example. He received $24,000 from total strangers.
Source: The Daily Mail
It’s a lot cheaper than sending money any other way, which has these guys really scared…
Poor Visa & MasterCard, they worked hard to get into your Wallet but their technology is simply over-priced & out dated. Soon, we’ll be seeing these…
Everywhere except for Russia & Iceland…
Which is why $72 Million Dollars have been spent by Bitcoin entrepreneurs so far in 2014, and the price of Bitcoin has risen 56X over the course of 2013.
Of course it’s come down a bit since then. In fact, it’s probably the most volatile financial asset in history. So it’s certainly risky and probably not a good idea to invest your entire capital in Bitcoin.
In eToro, you can buy bitcoins as CFDs. Meaning, that you don’t need to worry about all the security details of a digital wallet. You can simply add them to your existing investment portfolio. With risky assets like this it’s a good idea to allocate only a small percentage of your total investment portfolio. This way, you’re not risking much if it goes down, and if it does go up to a million Dollars per coin, like some analysts are saying, then you can make an excellent return.