According to the Pantera CEO, the Bitcoin is at the perfect price level for investors to make huge profits when the inevitable rally kicks off. Many analysts have predicted that Bitcoin prices will go beyond the $20,000 mark in 2018.
Why invest in Bitcoin?
We are at the forefront of another “dot-com” boom. The entire cryptocurrency market is breaking all-time highs across the board. Bitcoin is now one of the 30 or so largest currencies in the world, and all across the world, people are looking to invest in bitcoin.
According to the 2017 study done by the Cambridge Centre for Alternative Finance, the Global cryptocurrency benchmark study, the current number of unique active users of cryptocurrency wallets is estimated to be between 2.9 million and 5.8 million and between 5.8 million and 11.5 million wallets are estimated to be currently ‘active’.
Are we in a bubble? Definitely.
But that statement doesn’t say anything, does it? For example, at what stage of the bubble are we at the moment? Well, let’s look at the numbers.
One of these people is a software developer and Bitcoin enthusiast Jonathan Wheeler, a former bank employee who believes he can provide some relief to the people who are starving under one of the most oppressive regimes in the world.
At Japan Blockchain Conference, which gathered some of the world’s leading experts in the blockchain industry, the Chief Executive Officer of financial services company SBI Holdings Yoshitaka Kitao said he is certain that blockchain related technologies will fuel the next boom for the Japanese economy after decades of its struggling to bring back its 1980’s growth.
If you need an alternative method to centralized exchanges for buying Bitcoin your answer might be LocalBitcoins. The site provides a peer-to-peer marketplace for users to get together, buying and selling Bitcoin without oversight from centralized exchanges or financial institutions.
Bart Smith, the head of the cryptocurrency at trading giant Susquehanna International Group, told CNBC on July 10 that Bitcoin is still the best choice for crypto investors because people are actually using it.
2Already 80% of all Bitcoins have been mined (as of January 15, 2018) so let’s see how many Bitcoins are left. The Bitcoin blockchain was designed to only ever produce 21 million Bitcoins. Once all of these are produced and mined there won’t ever be another Bitcoin produced. This is known as controlled supply and is in direct contrast with the way national currencies are handled by central banks.
National, or fiat, currencies have an ever expanding supply. This has several reasons, one of which is that it creates inflation, which global governments encourage as a way to grow the economy. Unfortunately it also leads to the devaluation of the currencies, and in many cases this also leads to a reduction of wealth for citizens.
Many analysts have described Bitcoin, cryptocurrencies, and blockchain technology as having the potential to cause disruptions in many aspects of human life. Libertarianism which is at the heart of blockchain technology is often at odds with the established order of the state whether capitalist or otherwise.
Bitcoin came at a time when the world was recovering from a severe financial crisis that had far-reaching effects. Thus, many were immediately drawn to a system that sought to eliminate the middleman.
What is Bitcoin mining? Mining is the process by which new bitcoins are created and simultaneously, the way the bitcoin system is secured. Through mining, bitcoin transactions are validated and cleared. Mining is a sort of decentralized clearinghouse because it secures the bitcoin system and enables a network-wide consensus to be achieved without a central authority or a trusted third party. It is the invention that makes cryptocurrencies revolutionary. Well, technically, Bitcoin is an emanation of an ingenious solution to the double-spending problem and the Byzantine Generals’ Problem. And here you will find out how to mine Bitcoin.
Despite the turbulence that has characterized the cryptocurrency market since the beginning of 2018, Bitcoin remains the cryptocurrency to buy.
According to venture capitalist and Blockchain Capital partner, Spencer Bogart, it is the only cryptocurrency traders should be buying as it enters mainstream markets.