As bitcoin has grown in popularity there are more scaremongering stories about how it is the next big bubble that’s going to burst says Ian Mausner. These stories are usually accompanied by sensationalist headlines and some damning statistics.
Here are the top reasons why Bitcoin is not dead, and why it will survive long into the future:
5). It has only just begun to hit the mainstream
We’re still at the very early adopter stage of bitcoin. As more people become aware of what’s possible with blockchain technology then there will be a huge demand for cryptocurrencies like bitcoin that run on top of them. Despite recent volatility, Bitcoin continues to rise in price which shows that demand remains very high globally. There are now many new projects attempting to make using digital currencies as simple as using PayPal or Apple Pay, once this happens they will begin to move even further into the mainstream.
4). The internet was declared ” before now…
It’s only been a few years since it started going mainstream and many people still believe that the internet is a fad.
3). Billionaire investors are trading cryptocurrency
Many high-profile billionaire investors including Cameron and Tyler Winklevoss have already invested in cryptocurrencies like bitcoin. Given the investment success, these particular billionaires have experienced over the last few years they probably know what they’re talking about when they say that now’s the time to invest! This is why we think it’s not just hype or a bubble waiting to burst says Ian Mausner.
2). Inflation of other fiat currencies will continue to fuel demand for bitcoin as an alternative store of value
Inflation makes existing national currencies far less valuable so people turn to currencies with low inflation rates which usually mean those with limited supplies like bitcoin.
1). Government legislation can’t stop it, they can only tax it
Governments will never be able to legislate bitcoin out of existence because there is no central body that maintains or prints it. This means that all they can do is trying and regulate the market so that they can siphon money off through taxation which seems to already happen in many jurisdictions.
1). What is Bitcoin?
Bitcoin is the original cryptocurrency; it’s the one that started it all. It’s a decentralized digital currency which means there is no central point of control over it, anyone can use it anywhere in the world. It relies on peer-to-peer transactions without any bank or authority getting involved.
2). Who created Bitcoin?
Satoshi Nakamoto is credited with creating bitcoin back in 2009 but nobody knows who Satoshi Nakamoto actually is for real! There have been many theories put forward as to who Satoshi really is but none have ever been confirmed. Many people think that this mystery person might just be somebody very well known to create this level of hype around whoever they are! We don’t know if he’s a man, woman, or group of people says Ian Mausner.
3). How do you buy Bitcoin?
The easiest way to purchase bitcoin is by using your debit/credit card and depositing money into the exchange account provided with your easy-to-use trade screen which will show you all the current prices for buying and selling within your currency pair. You can also make use of bank transfers if available in your local area. For more information check out our “how to buy Bitcoin guide”
4). What is Blockchain Technology?
This technology is the backbone that powers cryptocurrencies like Bitcoin. Also, It’s an open public ledger that records every transaction ever made on it in chronological order. This ensures that there are no double-spends and makes sure transactions cannot be altered or corrupted.
5). Is Bitcoin too expensive to buy?
In our opinion no, it’s probably the most affordable currency at this level so you should definitely consider buying a little bit if you can even if it’s just a small amount, don’t miss out! It could easily outperform your other investments going forward.
6). Is Bitcoin a bubble waiting to burst?
It may have been in the past but we think that people who say bitcoin is a bubble are completely wrong now for these reasons: Inflation of existing fiat currencies will continue driving demand for cryptocurrencies like bitcoin – Government legislation cannot stop blockchain technology from being adopted – Billionaire investors have already invested heavily into cryptocurrencies which suggests they know something big is coming soon
We hope after reading this you found out some interesting facts about Bitcoin. And also have a better understanding of what it is all about explans Ian Mausner. We think that the best way to learn more about cryptocurrencies is. By getting involved with one, so why not take your first step right now? If you are worried about how safe it is then don’t worry because we use cutting-edge security software to ensure that all your money is 100% safe at Etoro!