- The idea of gifting Bitcoin is a little bit of a strange concept
- As a result of market volatility, you could purchase a gift for somebody in Bitcoin
Now that the gift-giving is out of the way for most people we want to know if you got any bitcoin this Christmas?!
It might not be a traditional present but maybe that’s what makes it so interesting.
I’m sure our many of our readers will have asked for a whole batch of things for Christmas this year but did anyone have the guts to be cheeky enough to persuade their friends and family for some bitcoin?
As we reiterate time and time again on CryptoDaily, investing in a cryptocurrency is risky business. I mean, the idea of gifting Bitcoin is a little bit of a strange concept. This is because buying Bitcoin is such a huge 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 20 per cent of its value by the time you actually give the gift and all of a sudden, your gift is no longer as valuable as it was at first, but does this make a Bitcoin gift any less meaningful?
Let’s take a look at this from the other side as the same could happen but in reverse. Your gift could suddenly increase in value by 20 per cent. 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?
This is a moral dilemma that you would have to make for yourself but given that it’s now boxing day, we assume you’ve already made such a decision and either kept the profits or gifted them in good faith to your friend or family member.
Enjoy the rest of your holiday!