Bitcoin rising to insane value. High risk investing

Ever since  its creation  in 2008, virtual currency Bitcoin has been the subject of endless rumor, review, and speculation. But despite a steady stream of naysayers and  problems with theft , the Little Crypto-Currency That Could continues to chug along. Like many phenomena that capture the public’s attention, Bitcoin is surrounded by characters straight out of tall tales— lucky stiffs , the  seemingly cursed , and  sketchy ne’er-do-wells  scheming to take other people’s hard-earned money. Full of shadowy mystery and bright promise, Bitcoin continues to attract press, plaudits, and pessimism even as the modern marketplace struggles with the potential impact of a currency whose existence, let alone functionality, is hard to pin down. A large part of the Bitcoin mythos can be traced to its mysterious origins. The person who created the world’s leading virtual currency is, perhaps appropriately,  a cipher . While Satoshi Nakamoto has long been acknowledged as the creator of Bitcoin,

As the U.S. Dollar keeps accelerating its inflation through ‘QE Infinity,’ which increases supply and erodes its value every year, global interest in it continues to wane, and a Bitcoin will cost more and more to buy on the weakening dollar.  China has already begun to call for a new global reserve currency . As the dollar loses 5-10% a year in real value, not the government’s alleged 1-2% per annum, Bitcoin’s value in dollars will grow in proportion.  When, not if, the dollar loses its “Global Reserve Currency” status, people will flood the Bitcoin market looking to get in. Since Bitcoin is not beholden to any country or economic paradigm run by the banking system, it can sit on the sidelines and collect value, like Gold and Silver will, while the legacy financial system continues to burn down around them. ‘Digital Gold’ has treated Bitcoin owners very, very well over the years, making incredible returns in six out the last seven years. I wouldn’t worry about Bitcoin values goi

Nations around the world are funneling the mainstream into the digital payment system and  away from cash through soft bans . They may be doing it for economic control over all transactions, and the ability to record and tax every transaction in the future, but consumers will get closer and closer to the realization that Bitcoin is really their digital currency of choice. Bitcoin has not gone viral yet, and is still developing the apps, upgrades, and protocols that will make it truly ready for prime time, so the upside potential is still huge. We’ve only scratched the surface of what a Bitcoin is really worth to the world. It’s quite a bit  more than $670, or at least it will be in the future. Five year’s ago, it was worth $0.30 USD cents.

With Bitcoin’s transactional volume increasing worldwide every day, a cap on production in the future, and a reduction in Bitcoins produced every 10 minutes just implemented July 10th, Bitcoin values will continue to climb for the foreseeable future. U.S. Dollars and pretty much any fiat (paper) currency you can think of are losing value every year due to inflation, which is the increase of supply of said currency. Bitcoin is deflationary, by design. Bitcoin supply falls from now on, in four-year increments known as  Bitcoin “halvings, ” reducing the number of Bitcoins produced every ten minutes. Right now, this is 12.5 BTC per block. A dollar has no production limit on the amount it can be inflated by decree of government or the centralized banking syndicate. Paper currency is generally inflated to try to outspend debts, or pay for unholy wars. So no debt, no inflation, and no blood on Bitcoin’s hands. I’d say we’re off to a good ideological start…..

Bitcoin can be used to buy things electronically. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally. However, bitcoin’s most important characteristic, and the thing that makes it different to conventional money, is that it is  decentralized . No single institution controls the bitcoin network. This puts some people at ease, because it means that a large bank can’t control their money.