Christmas and the holidays bring with them the tradition of gift giving. Indeed, I’m sure our readers will have asked for a whole host of things to be gifted to them, was anyone however brave enough to ask Santa (or his equivalent) for Bitcoin this year?
Gifting Bitcoin is a little bit of a strange concept, as really, buying Bitcoin is a gamble. As a result of market volatility, you could purchase a gift for somebody in Bitcoin that could be worth x amount at the time of purchase, but could have lost 30% of it’s value by the time you actually give the gift - suddenly, your gift is no longer as valuable as it was initially, but does this make a Bitcoin gift any less meaningful?
On the flip side, the same could happen but in reverse and in fact your gift could suddenly grow 30%. What happens now? Do you still gift the full amount, or do you take the 30% profit on the premise that you only wanted to gift a set amount in the first place? Overall, it’s a bit of a minefield of ethical and moral judgements, isn’t it?
These problems are one day subject to change, that is, through the beautiful idea of Bitcoin adoption. Now at the moment it is possible to gift somebody Bitcoin (you just transfer it to their wallet) it’s also possible to purchase crypto and Bitcoin based gift cards/vouchers for people too, if you’d rather your gift be a little more intimate, but even so in both of these instances your gift is still subject to market volatility. When Bitcoin adoption drives forward, Bitcoin is very likely to lose the volatility that currently chases it so closely. When this happens Bitcoin is more likely to find a steady value. This value will move about slightly, though we won’t see changes that are half as dramatic as those which we have seen over the past few years, instead, Bitcoin will level out and start to behave a little more maturely.
Once this happens, Bitcoin will not only be seen as a more attractive store of value and a currency, it will also be seen as a more attractive option for gifting too. Today, it is traditional to give FIAT cash as a gift in many cultures. Next christmas, we could possibly see a surge in the giving of Bitcoin as a gift, a new trend set by a cryptocurrency that might, in a years time, find a little more balance.
If you’re ahead of the game and already received Bitcoin for christmas then good luck to you, we hope your gift flourishes and we thank you for kickstarting what could be a Bitcoin gifting revolution.