As the current leading runner in the world in the Crypto Currency market, Bitcoin has made some serious headlines, and some serious changes in the last 6 months. Almost everyone has heard of it, and almost everyone has an opinion. Some can’t fathom the idea that a currency of any value can be created from scratch, while others love the idea that something beyond Government control can be sold as a valuable entity in itself. right.
Where are you sitting on “Should I Buy Bitcoin?” The fence may finally come up with a question: Can I Make Money from Bitcoin?
Can you make money from Bitcoin?
In just the last 6 months, we’ve seen the price go up from $ 20 a coin in February, to $ 260 a coin in April, back to $ 60 in March, and back to $ 130 in May. The price is now settled at almost $ 100 a Bitcoin, but what happens next is anyone’s guess.
The future of Bitcoin ultimately depends on two major variables: its adoption as a currency by a wide audience, and the absence of prohibited Government intervention.
The Bitcoin community has grown rapidly, interest in Crypto currency has spread rapidly online, and new services are accepting Bitcoin payments. Blogging giant, WordPress, accepts Bitcoin payments, and African based mobile application provider, Kipochi, has developed a Bitcoin wallet that will allow Bitcoin payments on mobile phones in developing countries.
We have already seen people make millions in money. We’ve seen more and more people experimenting with just living with Bitcoin for the last few months, while recording the experience for watching the documentary.
You can buy takeaway in Boston, coffee in London, and even some cars on Craigslist using Bitcoin. Searches for Bitcoin increased in 2013, with an increase in April and a subsequent fall in the price of Bitcoin. Last week the first major acquisition by a Bitcoin company was made for SatoshiDice, an online gambling site, for 126,315 BTC (about $ 11.47 million), to an undisclosed buyer.
This rapid growth in knowledge and uprising looks set to continue, if the confidence in money remains strong. Which leads to a second trust. Government regulation.
Although specifically designed to work independently from Government control, Bitcoin will inevitably be affected by Governments in some way. This has to happen for two reasons.
First, to achieve a high level of adoption, Bitcoin needs to be accessible to many people, and that means spreading beyond the realm of secret transactions to normal day-to-day transactions for consumers. individuals and businesses. Second, these Bitcoin transactions can be a traceable part of people’s wealth tax, to be declared and regulated along with any other class of wealth.
The European Union has already stated that Bitcoin is not classified as a Fiat currency, or as a currency, and as such, cannot be regulated in its own right. In the U.S., the 50 state system and the number of bureaucratic bodies involved inevitably make decisions more difficult, with no consensus reached to date. Bitcoin is not considered money as such, but it is considered to act like money.
A thriving Bitcoin market in the US has a more uncertain future for now, and any conclusive US legislation could have a very positive, or very negative impact on the future of Bitcoin.
So, Should You Buy Bitcoin?
The answer depends largely on how you avoid the risk. Bitcoin is definitely not a smooth investment, but the potential of this money is huge.