The Basics of Cryptocurrency and the Way It Works
In the times that we’re living in, technology has made unbelievable advancement as compared to any time in the past. This evolution has redefined the life of man in almost every aspect.
There are many unanswered questions regarding Bitcoin for most readers. This article answers many of them.
Why Many Educated People Think Bitcoin Is a Fad
Some people are far more married to certain ideologies than others. We see it everywhere. I see it with the older generation at church not liking the newer music. Or, for example, the National League baseball purists despising the idea of the designated hitter. How about even simple things like when Facebook or Twitter changes the user interface? Don’t mess with my timeline! LOL. Why then should it be any different for Bitcoin or any cryptocurrency? I talk to people every day who are educated and successful and yet still can’t wrap their heads around cryptocurrency. To me, it is like explaining how to surf the web to people in 1994.
Cryptocurrency – The Future of Money
Bitcoin – A New Gold. Bitcoins value was $0.001 in 2009, which started increasing when Big Successful People like Richard Branson, Bill Gates, Elon Musk, and Other big corporates recognized its efficiency as a fast and trusted payment solution. Currently, one ounce of Gold is 1300 USD but one Bitcoin has reached up to 4800 USD, which is three times the value of Gold!
Is Bitcoin As Good As Gold?
Gold and Bitcoin have been used synonymously as safe havens and currencies. What is a safe haven? It is a place to park wealth or money when there is a high degree of uncertainty in the environment. It has to be something that everyone can believe in even if the current institutions, governments, or players in the business game are not available.