Questions

I've been reading a lot of articles lately, reviewed over 30+ videos on the topic, and I'm still unclear at $1000+ per bitcoin where the opportunities lies? Is it - Mining (purchased or hosted) - Startup built on top of Bitcoin (financial solution) - Buying Bitcoins ($1000+? Higher?) Am I missing something? Love to hear your thoughts.

I've been into bitcoin since 2011, and here's my brief take on where the opportunity lies.

- Mining: Bitcoin mining is too difficult unless you invest a significant amount of money into it, think over $10,000 ... and it only becomes profitable if the price of bitcoin does another 10X (which it may.
- Mining: Altcoins may be the quicker path to profits (http://coinmarketcap.com/) ... mine some altcoins and then converting them to bitcoin through one of the exchanges like cryptsy.com
- Buying: I am waiting for another price crash before I buy back into bitcon, I'm hoping it will drop to $500. I see it rising back up over $2000 if it does drop, however now that the Chinese are into bitcoin, its a real possibility that the price will just keep rising.
- Arbitrage: The price difference between exchanges is massive. You can now buy bitcoin at btc-e for $1000 and sell it instantly at mtgox.com for $1200. If you had $100,000 to arbitrage with, that is a cool $20,000 profit. The probem is that these exchanges may go down at any time and you risk losing your money/bitcoins.
-Startup: You could build something with real value, although the competition now is fierce to build a product with real value that has not already been built. VC's are getting hot for bitcoin startups, check out press on Ripple Labs, BTC China, BitInstant, Coinbase, etc.

There are some other opportunities, like buying a bitcoin ATM machine from a franchise (Robocoin, Lamassus) or something a little more in the grey area like starting a bitcoin casino.

There's lots of opportunity in cryptocurrency if you look hard enough, I feel though that the window of opportunity for massive profits and value creation is narrowing due to the eyeballs looking at the bitcoin world right now.

So whatever you want to do, take massive action and do it fast before you lose momentum and first movers advantage.


Answered 9 years ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2022 Startups.com LLC. All rights reserved.