Bitcoin trading good or bad
Jan 15, · A speculative cult currency like bitcoin is only valuable when you cash it out to a real currency, like the US dollar, and use it to buy something useful like a . Although I believe Bitcoin is a good investment, it’s not all white, and there are a few reasons why not to buy Bitcoin. Bitcoin has been around for a decade now. Many reasons to not buy it have slowly been solved. A few remain though -- let’s examine them. #1: Bitcoin could . In Quick option trading South Africa 0 telegram bitcoin investment bot India other options investment in bitcoin is good or bad South Africa available to you than .
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While there is a hard cap of 21 million Bitcoins available to be mined, the number of routes digital currency can take are infinite. A mainstream competitor is already in the works, and the Let ' s Talk Bitcoin blog recently uncovered a patent filed by JPMorgan Chase to develop a solution to the primary issue of international online money transfers that independently produced digital currencies could potentially solve.
Bitcoin, crypto capitalist or not, revealed a gaping hole in the online marketplace. While supporting Bitcoin may be a hassle for most mom and pop retailers, a stable digital currency could make buying stuff online easier as well as providing an alternative to Western Union fees to transfer money by simply sending their recipient a 'Chase Coin.
The Bad: After you ' ve bought your Bitcoin, there isn ' t much that you can do with it. Bitcoin is a great idea. Publicizing it to people who may or may not fully understand the concept, however, is a big reason for its explosive success. Instead of a separate form of currency, Bitcoin has become a sort of volatile gold for would-be investors. Digital currency is neat. It's only natural to want to buy some after hearing about it online, but the global demand for Bitcoin currently far outweighs its intended purpose.
Just as curious newbies make their first stop at Mount Gox to buy their coins, they notice the upward trajectory of the price graph and are enticed into the volatile world of Bitcoin speculation.
The Ugly: With legitimacy comes oversight. The initial interest in Bitcoin was driven by crypto libertarians willing to invest their money and computer processing power into a decentralized, self-limiting system of currency. The price of Bitcoin has, ironically, grown as the currency moves further away from its fringe roots and into the public eye.
The Chinese government cited both the volatility of the currency and the possibility for illiquidity for buyers in its statement. For the same reason, a finance professor at The Boston University School of Management has even claimed that Bitcoin could fall as far as 99 percent by June in a Washington Post interview. The anarchistic glee that attracted early Bitcoin adopters missed the intrinsic inevitability of any digital currency: widespread use.
Is the current price of Bitcoin the result of a bubble? Yes, but the bubble was formed around a hole in the market that digital currencies will soon fill. While I wouldn't suggest exchanging your money for Bitcoin, I'd definitely urge any entrepreneur to make the time investment and research cryptocurrencies over the coming months. The next big tech disruption could rethink how we buy stuff online, who knows about it and whether a bank will need to keep track of your finances.
Next Article -- shares link Add to Queue. Matthew Toren. Stocks have plummeted, safe havens like gold and silver have also dropped, oil continues to sink, and cryptocurrencies are joining them. It seems like investors and savers around the world are eschewing any sort of investment or hard asset and fleeing for the safety of cold, hard cash. Bitcoin futures have been trading for years, but Bitcoin options are a relatively new product, at least the licensed products in the US.
Bakkt, in particular, has been hit hard. It was first affected by CME opening up its operations, which largely sucked the life out of Bakkt. Bakkt has now gone weeks without an options trade, with options trading on the exchange being largely dead since mid-January when CME went active. Some analysts speculate that the drop in options trading is due to institutional investors turning to Bitcoin and cryptocurrencies as sources of liquidity, assets to sell to drum up quick cash.
That could be one reason, as that also explains the drops in gold and silver, which as safe havens would have been expected to rise in price.