Why Bitcoins?
Bitcoin has been one of the most amazing currencies to watch in recent times. Since it is a relatively new form of currency, many people still don't understand why they should make the effort to use or invest in it. In this article, I will introduce some good reasons why it’s worth taking the time to get involved in this virtual currency.
Should You Invest In Bitcoin?
That’s a decision you’ll have to make on your own. What I can help to do is give you insight based on facts about bitcoins which will ultimately serve as something to think about when pondering if this is a smart move for you.
The supply of Bitcoins is fixed.
Since January 3, 2009, the value of one Bitcoin has climbed from nothing to something of about $1000 today. This may stem from its ability to transfer money between two persons anywhere in the world securely, cheaply and nearly instantaneously.
But it may also be as a result of its distinct characteristic: Its Cap. Once the number of Bitcoins in existence reaches 21 million the system will stop creating new coins in addition to this, the rate at which the supply of Bitcoin increases will also slow every four years, with the number of new Bitcoin being released will be halved, to further preserving its buying power.
The more it is adopted the more its value will rise and more and more people are adopting it
In the long run an increase in the transaction volume of bitcoins will give the coin even more value and as proven above there are strong arguments for the increase in the number of transactions. Overall daily transaction volume has increased over time. While currently only a few number of merchants currently accept the currency there is forecast that shows that an additional 25% expects to offer it within the coming year, according to a recent survey by Goldman Sachs and the Electronic Transactions Association. ARK estimates that 160,000 merchants already accept Bitcoin, and that in 2017, that number could rise to a number north of 2 million.
Government stance on digital currencies has been fairly positive.
Government reactions span everything from Russia’s plans to ban conversions between rubles and cryptocurrencies, to a ruling in Europe cheered by investors that Bitcoin was exempted from value-added tax (VAT). “In some places, the government is just getting up to speed and hasn’t taken a position yet. In other places, we’re seeing active government involvement and support.
Look at its growth patterns.
If you believe in patterns based on past behavior to predict their future performance, you would have reason to expect that Bitcoin would continue to rise.
More investors are taking it seriously and using it as a portfolio diversifier.
Bitcoins have started to experience an unprecedented interest from the financial advisor community as they are seeing a tremendous increase in the amount of inquiries from their clients about Bitcoin. With bigger companies and traders getting involved with Bitcoin and blockchain technology, it suddenly wakes up in a lot of people that this is something they too should be looking at and that begs the question shouldn’t you be too?
Convinced?
Great!!!!!!!!!!!, so in my next article, I would be talking about what you need to get started.
Until next time guys, keep searching for growth.
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