Bitcoin info: An insane rise in the value of the bitcoin is providing a new discussion to the technology world.
A number of people are really wondering about the origin of it, they are puzzled by this phenomenon? surprise how it is physical? how they withhold on it? how bitcoin works? or whether a new bubble like this, is on its way?
Whereas others count that the currency change brings the sans regulations.
If we look back, one Bitcoin was at the value of $0.003 in 2010. Whereas, its value in 2017 raises to $2500. Clearly, means that one bitcoin is equal to the 2500 US dollars. By multiplying the perspectives bitcoin’s value is 879,999 times.
So, which thing people buy in actual????
On another side, people think about the hoarding of the bitcoins.
One of the trader’s point of view is, “Of course, you can spend bitcoins to purchase items at places where they are accepted. But a lot of traders are buying on speculation because the supply of bitcoin is limited”.
All we know that there is 21 million total supply of the bitcoins and 70% are mined already from the internet. And, a sharp increase of the bitcoin is associate it with “bubble” word.
Billionaire Mark Cuban already admit that it has a worth, it has a value in blockchain technology. And named it as a bubble early in this month.
Few of them relate this bitcoin hype to the “Tulipmania”. A well-known episode in Dutch history 1636-1637. Where the value of tulip bulb was pushed by the gamblers to rapid heights.
Unfortunately, the bubble burst and bulbs price crashed. The main reason for this crash was, no existence of the fundamental value of a bulb.
But, in the case of the bitcoin, you are free to spend your coin and get goods and services. This scope is continually expanding. Traders of the bitcoin are the well-wisher of this technology and claims that bitcoin’s attractiveness directly lies in its potential.
Furthermore, it is possible that fiat money also doesn’t have original value but it is controlled by the different sources. That is a reason for long-term investment.
Japanese government legalized the bitcoin, it is a live example that cryptocurrencies are making their ways into the mainstream.
Bitcoin is not only one cryptocurrency, which is available with the limited supply. In fact, there are more than 900 digital currencies available on the internet. Whereas, cryptocurrencies are basically decentralized digital money, which is not created by any government or central bank.
Additional tag: Bitcoin stock market