The price of Bitcoin has been declining. This doesn’t mean it is doomed, or it is not worth investing, but rather the price has significantly dropped over the past year. I was fortunate enough to invest when it was decently cheap($300 to $350 range), so I don’t feel too upset about the price drop just yet. However, I am not willing to take the risk that bitcoins will drop below the value I paid for them.
Bitcoin is an internet-powered currency with no centralized organization regulating the purchases. Users can “upload” their bitcoins to the network to pay someone for a good or service, and also utilize their computer to help regulate and verify the spending of bitcoins, known as mining. In return, those who “mine” are rewarded with bitcoins in the network. This is done entirely through open-source programming and a de-centralized regulation system. It is really impressive. However, the “value” of bitcoin is declining steadily.
It was difficult to acknowledge that I was holding onto something with a declining value, and even more difficult to actually sell the majority of my holdings. However, I’ve decided that this year I will be treating myself to something truly special; a Yamaha FZ-09. I’ve decided that while Bitcoin is a pinnacle of technology that will probably be adopted worldwide(opinion), I do not want to hold onto something that has declined so sharply in value.
Besides, have you seen the 2015 FZ-09??
I sold the majority of my Bitcoin to give me enough money for a down payment on one of these. While I love technology, I love riding a motorcycle more. The reviews are impressive, the bike is cheap, and it looks like a great machine.
Turns out my local motorcycle dealership wasn’t interested in me buying the motorcycle on release date, so I decided to wait until the spring. I will be buying it then. You can expect a review then as well.