I have been keeping a rather curious eye on the new digital currency called Bitcoin. This is mostly due in part to my keen interest in the declining value of the dollar.
A Little Personal History
Following the real estate market crash of 2008, I became interested in bubbles and currency trends. It was then I became an avid follower of Robert Kiyosaki, Mike Maloney, and Mike Dillard. At their recommendation, in 2010 I started buying silver bullion to hedge against the dollar.
When I first got started, I was so obsessed with buying as many American Silver Eagles as I could, I would slip into the bathroom on my break at work to watch the price of bullion rise and fall hoping I could get a coin at the bottom of the dip on my payday.
Then Mike Dillard suggested it was better to purchase coins on a regular basis, like once a month, rather than try to time the markets.
So when Ray Higdon introduced me to the new MLM, Numis Network, it just made sense to jump on board.
I ‘promoted’ Numis Network on my blog and enjoyed receiving my monthly numismatic coin each month.
But, like every other MLM I promoted, I have never had the time to mentor a team.
They say that time is more valuable than money, and I believe that to be true.
So I struggled for the longest time about whether or not I should spend more time at work (where we were growing as a company and overtime was plentiful) and more time building a team (with the promise of residual income).
Were it not for the fact that I experienced the harsh reality that my wages did not afford me the financial resources to live and seriously market a business at the same time, I felt I had no other choice but to take high risks in the ‘make money online’ space – so hungry I was for the dream of ‘time freedom’.
As a result, I got involved in companies like Banners Broker and HourlyRevShare, where we were promised to make money without the need to build a team. I was so excited about the possibilities after seeing proof of other people’s results, I had the audacity to tell my Supervisor at work that I planned to quit in 6 months. (Sadly, these companies grew too quickly and were unable to pay out as promised, so I ended up having to do a $5125 chargeback on my credit card with Banners Broker and forever lost $305 to HourlyRevShare.)
By this time, Empower Network had sucked me in.
(If you don’t know what Empower Network is, then you have either been living under a rock or are brand new to the MLM/network marketing space. Briefly, Empower Network is a viral blogging platform that includes educational products selling for as much as $3500 that teach you how to market any business online.)
Blogging is my passion.
I first realized I could make money from blogging in 2009. Google adwords, sales letters, video marketing all use a blogging platform as their foundation. And I have become a student of the blogging industry.
It amazes me how many millionaires have been created blogging.
And still…I am not one of them.
That doesn’t deter me, however, from being a student of the industry.
Or a student of life and the make money online space in general.
That’s why Bitcoin is such an interesting product.
And it’s value has been increasing the last 4 years, since it’s inception.
How Bitcoin Works Under the Hood
What’s even more interesting is that there is now a Bitcoin MLM. (You can learn more about it here.) AND the compensation plan mimics the groundbreaking Empower Network’s 100% “instant” commissions.
I cannot tell you how appealing this is to me!
After all I have tried and failed at in the past, I am not ready to hastily jump on board this band wagon.
So to get a more balanced view of what currency experts are saying, I watched the following video…
Bitcoin vs Gold: The Future of Money – Peter Schiff Debates Stefan Molyneux
I think I will stand on the side lines for this one and go back to buying silver coins for now.