Monday, December 26, 2016

Mongolia Mining and Bitcoin my top speculations for 2017

Mongolia Mining Corp should not be a big surprise to readers as I have been talking about it for months now. I have a position that I have been building for some time. I think this stock will sky rocket in 2017.

The debt restructuring has now been agreed to by all the creditors. The government is populated by a MPP majority that is very incentivized in getting the Tavan Tolgoi coal project going. Not only to help the economy but because quite a few parliamentarians have large personal holdings in Mongolia Mining Corporation.

The next significant event I am anticipating from MMC is an announcement that the consortium that they are in with Chinese company Shenua and Japanese trading company Sumitomo will be awarded a concession to mine the Tavan Tolgoi met coal deposit. This news will catapult the share price higher.

The other speculation is Bitcoin. What is Bitcoin you ask? The Coindesk website has a good definition;

Bitcoin is a form of digital currency, created and held electronically. No one controls it. Bitcoins aren’t printed, like dollars or euros – they’re produced by people, and increasingly businesses, running computers all around the world, using software that solves mathematical problems.

It’s the first example of a growing category of money known as cryptocurrency.

This Zebpay video talks about what Bitcoin is and how it works. 

I actually use Coinbase which is one of the oldest Bitcoin wallets out there. What I found interesting about this video was that the presenter showed the ups and downs of the price of Bitcoin over the last few years. This video was made in march of 2015 and since then the price of Bitcoin has surged back to over $800.

I think people need to become familiar with Bitcoin and the way to become familiar is to buy some and use it. I think Bitcoin will continue to grow in popularity and due to its scarcity the price will going higher over time. Bitcoin is still relatively unknown by the masses. As it becomes more well known I expect the price to go up. Remember when the internet just started and most people did not know what the internet was that is where we are now with bitcoin. Imagine where it will be in 5-10 years.

Some of the risks to Bitcoin are the fact that it is electronic so it could be the target of hackers and this has happened in the past. The thing I like about Coinbase is that your bitcoins are insured against theft. 

The other risk is that bitcoin is electronic so it could susceptible to some type of catastrophic EMP event. But if that happened your bitcoins would be the least of your worries.

If you are interested in trying out Bitcoin you can use the referral link below. If you deposit $100 we both get $10 in free Bitcoin.

These are my two big speculations for 2017. This is not advice but just info on what I am doing with my own money. Do your own due diligence.

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