As the world’s number one cryptocurrency market, Bitcoin has made headlines and serious ups and downs in the last 6 months. Almost everyone has heard of them, and almost everyone has an opinion. Some may not understand the idea that a currency of any value can be created out of nothing, and others love that something without government control can be traded as a valuable entity.
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Where are you sitting “Should I buy Bitcoin?” The barrier probably boils down to the question: Can I make money with Bitcoin?
Can you make money with Bitcoin?
In the last 6 months, we have seen the price go down to $ 20 a coin in February, $ 260 a coin in April, down to $ 60 in March and go up to $ 130 in May. The price is now set at around $ 100 a Bitcoin, but then what happens is anyone can guess.
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The future of Bitcoin is ultimately based on two main variables: the adoption of a wide audience as a currency, and the non-prohibition of government intervention.
The Bitcoin community is growing rapidly, interest in crypto currency has spread tremendously on the net, and new services are increasingly supporting Bitcoin payments. The blogging giant, WordPress, supports Bitcoin payments, and African mobile app provider Kipochik has developed a Bitcoin wallet that will allow Bitcoin payments in developing countries.
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We have already seen people make millions with money. We are seeing more and more of the number of people experiencing living in Bitcoin alone over the months, while recording the experience of watching documentaries.
You can also buy food to take to Boston, coffee to London and some cars on Craigslist using Bitcoin. The search for Bitcoin has increased in 2013, with an increase in April and then a fall in the price of Bitcoin. Last week, SatoshiDice made the first major purchase of a Bitcoin company for an online gaming site in exchange for 126,315 BTC (about $ 11.47 million) from an unknown buyer.
This rapid growth in awareness and exploitation seems likely to continue if confidence in the currency remains strong. This leads to a second addiction. Government regulations.
Although it is specifically designed to work independently of government control, Bitcoin will inevitably affect governments in some way. That has to be the case for two reasons.
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First, to achieve high levels of adoption, Bitcoin will need to be available to a wide range of people, which means expanding beyond the realms of hidden transactions to ordinary day-to-day transactions for individuals and businesses. Second, these Bitcoin transactions could become a continuing part of people’s tax wealth, which must be declared and regulated along with any other type of wealth.
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The European Union has already stated that Bitcoin is not classified as a Fiat currency, or as money, and therefore will not be regulated by itself. In the US, 50 state systems and the bureaucratic bodies involved have inevitably complicated decisions without reaching a consensus so far. Bitcoin is not considered as money, but it is considered to act as money.
A thriving U.S. Bitcoin market has a more secure future for now, and any crucial U.S. legislation could have a very positive or very negative impact on Bitcoin’s future.
So should you buy Bitcoin?
The answer largely depends on the anti-risk attitude. Bitcoin will certainly not be a smooth investment, but the potential of this currency is great.