Bitcoin the currency of the future?

Bitcoin the currency of the future?

 

The Bitcoinas we all know, it is a virtual currency. Unlike euros or dollars, Bitcoin is an electronic currency and therefore has its advantages and disadvantages with respect to the currency to which we are used. Many people see Bitcoin as an investment opportunity in both the short and long term.

In the following image we can see how Bitcoin has risen throughout this year 2017 in a spectacular way.

Upload from bitcoin throughout 2017

Technology has changed more in the last 20 years than in the last 20 centuries. You are already seeing e-commerce that allow you to pay for your purchases with Bitcoins. The plus point is that with Bitcoin it is not necessary to disclose information such as bank accounts, and therefore there is zero risk that the seller will steal any information.

In fact, using this currency for online payments is very practical and beneficial for the seller. Transaction fees are much lower than the current currency. This is because currencies surf the internet and do not have to go through any bank or intermediary. Also, the positive thing about this is that you can use it in any country.

This currency is increasingly a reality in our day to day, and looks like it will be more present in our day to day.

Last week we could read in Forbes the success story of the Winklevoss twins, famous because Mark Zuckerberg stole the idea from Facebook. The Winklevoss twins started buying cryptocurrencies in 2013. They came to invest 11 million dollars in Bitcoin when its value was$ 120 per bitcoin, that is, they bought 91,666 bitcoins.

With $ 11 million in bitcoin a couple of weeks ago, that investment turned the figure of these American twins into more than a trillion dollars.

Cartoon A of the Winklevoss brothers

As we have commented, a Bitcoin for $ 120 in 2013, was turning into $ 11,000 at the end of 2017. If I had asked you for$ 600 in 2013 to buy 5 bitcoins and returned you the value of one bitcoin every year, right now I would be giving you almost$13,000. These are exorbitant figures that generate some uncertainty when it comes to investing, because everyone thinks that at any moment, the great decline will come.

However, there is another currency that is slowly drawing attention, but that is certainly not as popular as Bitcoin. We’re talking about Ethereum. This coin without going any further, is just like Bitcoin, which is having more pull lately.

Ethereum has gone from Worth $ 8.06 in early 2017 to worth$ 300.25 in mid-December. And he’s gone so far as to raise his quote to $ 395.04.

This makes Ethereum the second most used and valued virtual currency. Even the Russian government has met with the creator of Ethereum to use it officially.

Today there are more than 1400 different cryptocurrencies, and little by little more are being created. And globally there are 80 billion dollars invested in cryptocurrencies; of which 46% is hoarded by Bitcoin and 22% by Ethereum.

From the point of view of the author of this post, it is interesting to invest in cryptocurrency: Bitcoin, Ethereum or Ripple. Because they’re having impressive climbs. It is true that as they say, everything that goes up goes down, and therefore, you have to be careful. There are many people who are putting savings in Bitcoin or another cryptocurrency, for many years to come, see the profitability that has been generated. I think that if the investor wants money in the short term, the ideal is to invest a large amount of money and take it out in 4 or 5 years, this can give him a fairly considerable return as in the case of the Winklevoss twins.

Referenced links:

https://localbitcoins.com

https://www.buybitcoinworldwide.com/mining

https://www.forbes.com/the-winklevoss-twins-billionaire

http://www.diariobitcoin.com/bitcoin-supera-los-2200

https://www.bitcoin.com

https://bitcoin.org

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