The next phase in the Bitcoin revolution will be the standardization of the exchanges where the coins are traded. They compare current phase of Bitcoin with golden days of Wild West – promising, but missing too much yet. According to some investors and economists, Bitcoin has some stored value, like gold and silver have throughout the times. But it’s a double-edged sword: that means that, without your audience’s confidence, a cryptocurrency can crumble. This has led to cheating since trading began. We had some troubles with miners and assayers – mainly in the first years and while mining cost keeps rising. So, even if some investors dislike government taking a position and acting on cryptomarket, it’s made to protect everyone and the economic ecosystem.
Like many alt coins, Bitcoin has a huge community and worries about government decisions. In one hand, digital coins are easier to store, buy and sell something. In another hand, its economic expansion depends on its acceptance by governments, businesses and people. It won’t be easy to solve, but offers too big rewards.
And if Bitcoin or any alt coin wishes to hit the jackpot and becomes itself a reference, it will face an unstable market. The “up-down” variation of crypto coins facing to regulatory laws doesn’t have been easy. The big bet is on swap agreements and how they can work in favor of new investor.
One of main challenges faced by Bitcoin is keeping or even increase its value, because it depends on value perceived by its users. Its creator, Satoshi Nakamoto, developed whole infrastructure aspect and gave your community a new way of purchasing, but when dealing with a “coin market”, it isn’t enough. Crypto-coin value depends heavily on its community.
So, if you like to high tech features, the “crypto world” can be perfect for you. First, because IT characteristics of blockchains and crypto coins are a disruptive innovation – but it’ll take some time to become a new standard. Later, for some time it was an opportunity to “miners”, people trying to decipher new Bitcoin blocks and make some extra money. But, the true challenge is getting people start to use them in their daily routine – mainly when there are so few stores and shops accepting them.
If you liked that post, then try these...
Bitcoins - Worldwide Effect Of Virtual Currencies on November 23rd, 2019
The best way to learn about bitcoin, is to jump in and get a few in your "pocket" to get a feel for how they work.
What Tends To Make Bitcoin So Volatile? on November 7th, 2019
Thinking Of Investing? Feel The Bitcoin Way on November 5th, 2019
We are living unique and transforming times and we wish big and quick profits, one of the most controversial new investment vehicles has been Bitcoins, the virtual currency.
How To Acquire Bitcoins? on November 2nd, 2019
Bitcoin is a payment system on the Internet and also works like a way to exchange foreign currency, which recently emerged as an open-source software.
Marketing and Promotion for Bitcoin on November 1st, 2019
Marketing and Promotion for BitcoinInnovative businesses accepting new payment ways can lead to successful Bitcoin Marketing models.