Money has had many faces over time and it keeps changing with growing civilizations. This therefore proves that other avenues of money like bitcoin will rise up and take over the world economy.
Bitcoin is a digital platform of payment that is produced by lots of people worldwide. All that person needs in order to trade in the crypto currency market is an email address, Internet access and money to get started. The crypto currency is “mined” on a distributed computer network of users who run specialized software that can solve setting mathematical proofs and searches for particular data sequence/block. The network also has capacity to validate all the transactions in the crypto currency market through cryptography. There doesn’t exist an online bank rather, bitcoin acts as a worldwide ledger that is distributed through the Internet. Users have the power to sell this virtual ledger by trading their bitcoin with someone else who wants it.
Many theories have been formulated around bitcoin and there are people who are afraid of investing in the crypto currency because of the many negative news that people are brought about. Bitcoin has the capacity of growing to become the future of money. The capacity of bitcoin to grow to the level where it replaces cash shows that he has immense potential to grow as its value continues to be ever on the rise by a significant amount each year.
It is difficult for bitcoins to depreciate to lose full value even with the rise of other crypto currencies and with the perceived threats to the market. Even though it is to finish that bitcoin will lose its value, many experts believe the crypto currency will stand the times of recession much like gold has. Bitcoin transactions are safer than credit card transactions due to the block chain technology that offers secure transactions worldwide. Stability in international banks continues to decrease over the years due to rising political issues and therefore if an investor is afraid of the future of the stock markets, bitcoin is the safe alternative as it cannot be influenced by these factors at all. Other currencies may also be less tangible but they have tangible properties that can underpin their value.
Even when this happens, there are many chances of bitcoin regaining its value in future. Many people are taking advantage of the online platforms that allow access into the crypto currency market with the most of the world still and uneducated in the massive benefits of the crypto currency. This therefore makes bitcoin to be a lucrative investment for the future as it has the capacity of growing to be our worldwide currency.