FintekNews Friends, we are updating this story with new stats. We first ran it on 11/8/16, but Bitcoin has continued to rise since then, and today (11/21/16) closed at $735.86, so we are updating with new numbers.
As published before…………this is a personal tale. We did some consulting a while back with a publisher of a bitcoin website and as we were getting underway, he deposited $20 worth of Bitcoin on my Iphone on 8/22/15 to demonstrate the ease of transacting the payment with a mobile wallet. To do so, he installed the CoPay wallet by Bitpay that you can download from the App store.
Since our CEO often talks about Bitcoin and we publish numerous stories about it, here is a real life example of how it has worked in the last 15 months:
Deposit: 8/22/15 – $20 USD (87,176 bits) (just shy of 1/10th of a bitcoin)
Current Value: $64.31
Prior Value When Story First Published: 11/8/16 – $61.67 USD
Now, we are NOT NOT NOT giving investment advice here, BUT………….at 200%+, that’s a clean profit. We do believe in Bitcoin long term as as hedge.
BitPay is set up as a payments platform and they are the largest on the planet for that function. However, you can start with a simple wallet, as I did, and simply buy and sell bitcoin – or add to your cache – through the wallet – and it’s quite easy for the beginner. There are a myriad of other features as well, including an accompanying optional Visa credit card, and you can also see the actual transaction on the clockchain.
Turns out mine was deposited on 9/22/15 at 12:30:40PM (down to the second!) and resides on Block #371038.