Bitcoin is a new digital currency and originates and functions thanks to the Internet.
The appeal of Bitcoin is that is a decentralized currency, "controlled" only by it's algorithm which is open source and available to everyone. Transactions are instant, the transaction fees are almost non-existent, and it is a universal currency. You can use your bitcoin in over 200 countries now, without the need to exchange currency twice.
A number of Internet companies started accepting Bitcoin, like WordPress.com or Reddit and we are considering the same at ManageWP.
What is also so amazing with Bitcoin is its growth both in value and in use. Bitcoin trades at around $45 now, but just two weeks ago it was trading at $30.
Source: coinbase.com
Predictions like this one have it that the target value of Bitcoin is $100,000 or even $1,000,000.
Is this a good moment to hop on the Bitcoin train as an investor? It is hard to tell. What is happening now with it looks a lot like an early day gold rush. Will it last? Well we live in a strange world, and I do not see why an Internet currency would not work.
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Posted in: Leisure
2 Comments
I'm interested in this technology especially the ability to make cheap transfers.
This could really change the game.
Remember when western union discontinued its telegram service?
Well bitcoin could be the reason it discontinues its money transfer service.
Yes, we do live in a strange world and, oddly enough, my bet is on BTC now. The current bank system is aging.