A College Student's Outlook on Bitcoin

It was 2013 when I first heard about Bitcoin. It took me until 2015 to finally decide to buy some. When I first bought Bitcoin I thought it was awesome. I spread the news to my friends about how it would be the currency of the future and explained how it could be used to transfer money anywhere instantly at little to no cost. One day it would be worth a lot of money I thought. No one was interested.

Fast forward to a few weeks ago. I'm now in college on the bus heading to class when I overhear two separate conversations about cryptocurrency. Later that week I was contacted by a friend from high school asking for advice on how to get into the crypto game. Another friend decided to venmo me money and ask me to put it into Bitcoin for him. In the business school's building I saw a sign up sheet for a crypto currency educational session. While all of the hype is great for crypto, technology, etc. in general, I feel that there is too much of an emphasis on Bitcoin and not enough on the technology behind it. In my opinion, Bitcoin will be a great store of value in the future and a good way to move large amounts of money across borders. Although I'm sure it will remain useful and relevant, I doubt that it will ever be the everyday currency that I once expected it would become. I do think that cryptocurrency has the potential to replace standard currency, but I'm sure it will be an alt-coin that is used for everyday purchases.

Instead of comparing bitcoin to US Dollars, I think we should compare it to the millennial generation's gold. Bitcoin will be an asset that people can hoard to which there are always people who think it is foolish and has no value while others see it as the only "real" store of value. My advice to other college students is definitely buy some bitcoin, but don't limit yourself. Diversify and try alt-coins. Also make sure you understand what you're buying, how it works and how you can create new applications for it. Lastly, do not buy more than you can afford to lose.

Although the crazy volatility and enthusiasm can seem like a bubble, I believe that there is a future to cryptocurrency and that in addition, the attention it has gotten recently has gotten more people interested in technology, computer science, and cryptography- undeniably a great thing.

Be sure to UPVOTE, FOLLOW and RESTEEM

--Aaron