Bitcoin rises against all odds

Since it’s popular right now, I want to announce that I’m launching my own cryptocurrency next week.

Let’s call it “Kingcoin”.

Nah, it’s very self-serving.

How about “Mutkain”? I’ve always found a soft spot for mixed breeds.

Yes, it’s perfect – everyone likes dogs.

This is going to be the biggest thing from fidget spinners.

Congratulations! Everyone reading this will get a Mutkain when my new coin launches next week.

I am going to distribute 1 million mutkaines equally. Feel free to spend these wherever you like (or wherever anyone will accept them!).

What’s that? The target cashier said they would not accept our Mutcoin?

Tell these skeptics that Mitcoin has a deficit value – there will only be 1 million Mutcoin. On top of that, it is backed by the full trust and credit of 8GB of RAM on my desktop computer.

Also, remind them that a decade ago, a bitcoin couldn’t even buy you a pack of chewing gum. Now one can buy a bitcoin lifetime supply.

And, like Bitcoin, you can securely secure Mitcoin offline from hackers and thieves.

This is basically an accurate replica of the features of Bitcoin. Mutcoin has a decentralized sector with impossible-to-crack cryptography and all transactions are unchanging.

Still not sure if our mutcin will be billions upon billions in the future?

Okay, that’s understandable. The point is, launching a new cryptocurrency is much harder than it seems, if not impossible.

That’s why I believe Bitcoin has reached this height against all odds. And because of its unique user network it will continue to do so.

Of course, there is stagnation. But each of these pushes eventually results in higher prices. Recent% 0% immersion will not be different.

Bitcoin miracle

The success of Bitcoin depends on the ability to create a global network of users who are now willing to transact with it or save it later. Future prices will be determined by the speed of the network.

Even as wildlife prices change, bitcoin acceptance continues to grow at a significant rate. Chasing 21 million bitcoins, there are now 23 million wallets open worldwide. In a few years, the number of wallets could increase to connect 5 billion people on the planet to the Internet.

Sometimes the inspiration for new crypto converters was speculative; Other times they were looking for value savings away from their own domestic currency. Over the past year, new apps like Coinbase have made it easier for new users to run on top.

If you haven’t noticed, when people buy Bitcoin, they talk about it. We all have friends who bought Bitcoin and then don’t turn it off. Yeah Al that sounds pretty crap to me, Looks like BT aint for me either.

Perhaps subconsciously, holders become crypto-gospel preachers as it is in their own interest to increase the value of their holdings meant to be bought by others.

The good news about Bitcoin – the spread of good news – is that miraculously ously 0.001 to 10,000 10,000 has recently led the price to climb.

Who would have thought that its pseudonym maker, frustrated by the global banking oligopoly, has launched an indomitable digital resource that has competed with the world’s largest currency in less than a decade?

No religion, political movement or technology has witnessed this growth rate. Then again humanity was never connected.

The idea of ​​money

Bitcoin started out as an idea. Clearly, all money – be it shell money, gold bars or US dollars used by primitive islanders – began as an idea. It is an idea that a network of users is equally valued for it and is willing to part with some of the same value for your money form.

There is no underlying value of money; Its value is perfectly external – others just think it’s worth it.

Take a look at the dollar in your pocket – it’s just an eye pyramid, a small portrait and a fancy piece of paper signed by an important person.

To be useful, society must see it as a unit of account, and merchants must be willing to accept it as money for goods and services.

Bitcoin has demonstrated an unusual ability to reach and connect to the networks of millions of users.

A bitcoin is just as valuable as the next person willing to do it. But if the network continues to expand at a significant rate, the limited supply argues that prices can only move in one direction … higher.

Bottom line

The nine-year uptick in Bitcoin has been marked by the final sign of instability. There was an 85% correction in January 2015 and more than 60% in 2011 with a huge 93% contribution.

However, with each of these modifications, the network (measured by the number of wallets) continues to expand rapidly. As some practitioners see their value declining, new investors on the margins become buyers.

Unusual levels of instability meant that the Bitcoin network helped grow to 23 million users.

Hey, maybe we just need price volatility to attract new users …