Bitcoin was designed as a cryptocurrency, and it was envisioned to be used as one. Some of the most frequently asked questions by the profane members of the Bitcoin community are: Where do I spend it? How do I transact with it in the real world? And the questions are legitimate if we’re honest about it.
Imagine what it would be like if you’ve just sent some Bitcoins and the network is yet to confirm your transaction. And then, you realize that you’ve been patiently waiting for two whole hours and the Bitcoin appears to be stuck in an imaginary tunnel.
Your contact on the other end is beginning to question the veracity of your claim. You’ve sent them the transaction hash, but all this block and chain stuff are beginning to come off as some high sounding chicanery – after all, just how old is this technology anyway? Who is to say some enterprising upstart somewhere hasn’t found a way to “tickle” the system and this transaction right here was ground zero!
In today’s world of advanced civilizational dependence on technology, one can barely make the case that today’s society, although declaring to respect and cherish individual freedoms, gives any value to one of the essential human needs- privacy.
Individual dignity, integrity, personal autonomy, and independence are one’s essence as a human being, and these values lay the grounds of what humans conceptualize as privacy.
What’s happening in the world of cryptocurrency is nothing short of a revolution. The potential of Bitcoin investing is still not fully understood by even the most active players in the market. Its capitalization as of today is valued at $220 billion (subject to change), and the daily trading volume is $4 billion (approximated).
Since the birth of cryptocurrency, there have been many questions like “Is it too late to invest in Bitcoin?” or “Can I make money buying it today?”.
More often than not you will see major news sites covering Bitcoin as some form of criminal Arcadia. They are quick to point a finger at things like Silk Road, Bitcoin being used for money laundering and terrorist financing, drug dealings and what not.
And sure, they would be right to do so, if that was all that Bitcoin is good for.
Five days ago a post titled “I am donating 5057 BTC to charitable causes! Introducing The Pineapple Fund” popped up on the Bitcoin subreddit, and instantly caught on fire with more 2875 comments and 19k+ karma in five days!
Ethereum is the next big technological step for humankind. From a comparative standpoint, if Bitcoin is decentralizing currency, Ethereum is decentralizing the Internet. Ethereum will change everything: the way we exchange value over the Internet, the way we use our computers, it will revolutionize the development of applications, communications, and ultimately our futures.
From a technical standpoint, the Internet is nothing but a set of systems and protocols made to interconnect us and enable us to share all kind of information.
Have you ever thought why a charity or a nonprofit organization would want to use cryptocurrency in the first place? If you are a member of either one of those, you would already know how hard it is to find new and creative ways to fund your mission. It is a grueling process. Various charities have distinctive forms of fundraising depending on their mission, the region they are operating in and other circumstances.
As the price of Bitcoin skyrockets from $750 at the beginning of 2017 to more than $16.000, it seems like Bitcoin is attracting everyone’s attention. While you’re reading this, you may have already invested in Bitcoin and currently, a ‘hodler’. Or, you may be waiting for a possible drop in the near future. In fact, you might have had second thoughts on not investing when you hear phrases like Bitcoin bubble burst, Bitcoin price drop etc.
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.
Bitcoin (BTC) seems to be unstoppable.
The world’s first cryptocurrency by market cap is trading above $15.000, with a 54% growth rate in the past 7 days.
How long will the bullish trend last and what can possibly go wrong?