- June 6, 2017
- Posted by: Victor Cosmus
- Category: Uncategorized
Many see bitcoin as the future of money. There are a number of reasons why bitcoin is becoming inherently popular. Bitcoin is anonymous, decentralized and safe. Unlike other currencies, bitcoins is not regulated or controlled by any authority, bitcoin is dictated entirely by market forces. Bitcoin is impossible to counterfeit unlike other currencies, due to its complicated code system which encrypts all transfers, ensuring complete anonymity and safety for every user.
If I were to tell the future of bitcoins, I would have to begin with the 2006 whitepaper which was released under the penname of Satoshi Nakamoto, explaining the firstborn of modern crypto currency initiative. The idea combined decentralization, finite supply, blockchain technology and perfect anonymity thus paving way for Bitcoin. In 2010, Bitcoin received recognition as a usable currency after merchants such as Microsoft, Expedia, and WorldPress begun to accept it as a mode of payment.
Another turn of events was the approval of Bitcoins in education industry of 2015. University of Ohio among others started presenting classes about Bitcoins in the MFE curriculum. Several colleges are now accepting Bitcoin as a means of payment, a strategy which is bringing this alternative currency into the mainstream.
And so, are there possibilities of Bitcoin becoming a mature vehicle for transactions- and maybe even becoming the money itself? I see the 5-10-year future of Bitcoin as another currency achievement.
Gone are the days when this coin was selling at $15. Today, June 5th, 2017, Bitcoin is selling at $2,619. Do you realize the 17360% price increment? We believe that Bitcoin is the replacement of credit cards and the future of money.
10 years to come, the government will realize that Bitcoin does not present threat to neither tax policy nor sovereignty. Instead, the advancement of bitcoin will present a number of opportunities: the opportunity to eliminate inflation, restore public trust, stabilize markets, and reduce costs.
Next on: Bitcoin Price Analysis and factors affecting Bitcoin prices