Money makes possible the exchange of many different goods and services among many different people. Wherever we go, we see money being used as a medium of exchange. Money is at a core bar existence. Every day we transact with one another. Currently, almost all about daily transactions involve a third party, a bank, credit card company, or remittance provider and ultimately, it’s the easy institutions that carry out the transaction on our behalf. This is until the invention of Bitcoin.
Roger Ver, a Bitcoin Entrepreneur mentioned that Bitcoin invention is the most important inventions ever in the history of human kind, it has a big impact in one’s Investors life. Knowing its concept can be difficult and complicated for others, but knowing it wholeheartedly, you can say that it is literally easy.
Bitcoin is a currency and a payment network, it is a message, a digital message that one is passing to anyone and everywhere in the World. It was able to take something digital, hit the sending button and you are actually sending a copy of it, you are actually sending a digital object. Bitcoin is a new Monetary system; however, Bitcoin is unlike any other system we’ve seen in the past because it isn’t centralized in one place. This decentralized nature of bitcoin platform is one of the things that makes it so unique and world changing.
The collapsed of the Mt. Gox Bitcoin Exchange in 2014 caused much confusion and skepticism about the security of Bitcoin. However, years after the collapsed of the One’s largest Bitcoin Exchange, Bitcoin is now on the radar of many institutions within the financial industry.
Bitcoin nowadays has turned out to be perhaps the hottest investment commodity of all time. When Bitcoin started to peak, you can start up an investment with just a little penny. But now? It will cost you hundreds of dollars. Some are still afraid of taking the risk in investing thinking that it’s like investing in fool’s gold. But some still believes that it will continue to gain more value in the future. Of course, nobody knows the future of Bitcoin. It is important to understand the underlying factors that could cause its value to increase in the coming years. Bitcoin is different from other currencies that is designed from the code up to appreciate in value, rather that depreciate. Understanding what this means is essential for investing in Bitcoin.
Again, predicting the future is difficult, but should stock markets suffer a big hit in the near future (which is very possible), Bitcoin prices could spike. As bitcoin is an alternative currency, and because national governments tend to use stimulus policies that deflate the value of their national currencies during economic crises, bitcoin could start to look like a very attractive safe haven.