The finance sector was abuzz with the word ‘Bitcon’ this year.It has been so far a good year for Bitcoin investors but a miserable who believed that this currency would soon become an actual (defector) currency in the coming time.
This currency was generated because first thing,
It would not require the supervision of the banks.
People would start using it as a currency.
But the problem here is people are not using bit con as a hard cash which was ultimately the vision of its creator,Nakamoto.Instead people have started using it as an asset,an investment purpose.
This kind of investment habit has fast been adopted by the investors especially on the Wall Street Exchange.
However it was never meant for an investment purpose.Basically this type of currency was generated to build a digital equivalent to the investment of gold.Some sophisticated techniques of investing money rather than stuffing in your cupboards was adopted.
The practice was adopted to buy the currency in the hope of retaining and appreciating and eventually the value appreciating over the years.But as the growth of the economies took place it became necessary to move towards actual currencies which were not actually valuable but had value in themselves.This was when the vision of Bit con was created.
This has been a positive factor in increasing the value of Bit con
So far this factor has proved as a momentum in raising the value of Bit con.It has always been of a volatile value but the ceiling limit was always around the thousand dollar mark.
This move from the sudden interest in the investment world is wiping out any hope that it will anytime used as running money instead of a method of exchange.
But the main part of Bit con is it is an unstable currency as people hold it in appreciation of increasing its price.
So Bit con makes it as an asset rather than naming it as a currency.Also top economists are also of the view that to increase the value of both commerce and investment,people need to understand what are they buying and so Bit con is not a viable option.
But Bit con will continue to increase-
It will continue to appreciate as long as the price value increases.
What is still hindering the growth of Bit con then?
It is an online internet from of dominant exchange.People in the normal sense earn bit con by providing computing power to validate the future transactions.
But this is when the demand increases the users are either left with a lot of waiting time to process or have to wait for faster service.
Bit con may have failed in its main aim of creating value for money but in the long run it seems to be as a viable option.Harnessing the actual power of Bit con will still take time and it will over a time that its true value will be utilized up to its full potential.