Bitcoin as an Investment

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The Bitcoin buzz has been massive. Here is one persons perspective on whether this would be a good investment for themselves.

Strengths

Strengths are based on internal factors and seen as helpful to the organization.

Large governments and institutions are using them to avoid sanctions.

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It went up a huge amount in the past.

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You can transfer it to people.

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It is distributed so no central authority can control your coins.

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It is perceived as being anonymous although in practice it's difficult to remain anonymous as a user.

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People trust in the bitcoin technology more than they trust their bank and country's fiscal policies.

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Govt and banks are corrupt and can easily lock you out of your money but it's harder for them to take your bitcoins!

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Weaknesses

Weaknesses are based on internal factors and seen as harmful to the organization.

It has no inherent value.

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You can get hacked and permanently lose your coins.

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The network can only handle a limited number of transactions.

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Bitcoin is an environmental catastrophe because of the electricity and computers wasted on it.

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The FBI at one point was one of the largest holders of bitcoins because they took so many criminal's bitcoins. The "rubber-hose" attack works quite well against bitcoin security.

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Coins are initially distributed to early adopters causing uncertainty around valuation.

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Opportunities

Opportunities are based on external factors that are helpful to your organization.

It can keep on going up because of a bubble.

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The community can lower the price of transferring a bitcoin by fixing the technology and forking the chain.

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The community can fix the environmental issue associated with the huge amounts of energy by bitcoin miners by switching technologies and forking the chain.

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Mainstream currencies can crash resulting in people running to bitcoin as something not tied to the economic sanity of their country.

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Instability in the world will make people seek out bitcoins as a way of hiding and protecting their wealth.

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Threats

Threats are based on external factors that are harmful to your organization.

It is not backed by any government

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People will find a better way to transfer money that costs nothing and that is less prone to hacking.

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The huge amount of illegal activity associated with bitcoin will stop people from using it.

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The huge environmental impact of bitcoin will stop people from using it.

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Quantum computers or some new algorithm will suddenly surface and Bitcoin will be cracked.

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Governments are beginning to make bitcoin transactions illegal.

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Governments may heavily tax bitcoin transactions.

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Large holders can sell at any point.

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International laws around sanctions and laundering, at any point can threaten the economy.

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Bitcoin as an Investment