Bitcoin is not a safe haven, but there is no alternative
Bitcoin cryptocurrency (BTC) and altcoins are used as a speculative investment tool, and not as a means of payment, according to the US Congressional Research Service.
Why Bitcoin?
Bitcoin today has become a currency and an investment tool for many businessmen. Since the beginning of 2010, Bitcoin has continued to grow on all exchanges and set records. At the moment, not one of the cryptocurrencies on the market can surpass Bitcoin in all respects.
Thus, Bitcoin is both a payment tool and an investment tool, as well as a tool for crowdfunding and saving.
If we compare Wall Street and those exchange tools that they have, then the most dynamic among them is Bitcoin. But with Bitcoin, everything is different. Since this is completely new information, technology and people who are interested in it.
Bitcoin mainly wins as an asset that is completely independent. He has nothing to fix, for example, as in the case of the currency — the devaluation and depreciation of national currencies are subject to both economic and political shocks. In this case, of course, is an advantage than a danger. Bitcoin is free and not subject to more than one credit policy in the world.
Of course, today Bitcoin is very high volatile, but still, it is increasingly being chosen as an asset and added to its portfolios. Bitcoin is growing even in an unstable situation in traditional markets.
What about Altcoin Projects?
If we analyze other projects, then among them we can probably only note the Ethereum, which is second only to Bitcoin.
But Ethereum is hardly a competitor to Bitcoin. In less than 5 years, many altcoins have already disappeared, because they are not in demand, and nobody uses them. And the most important question regarding other altcoins is how useful and independent they are. And at any other moment, the project founder can simply intervene manually in the process of price, use, etc. Thus, they do not have the main quality that Bitcoin has.
Bitcoin has the independence that is so lacking now. Decentralized cryptocurrency, this is one of the most powerful projects that has appeared on the market.
Not even ten years have passed since Bitcoin became a famous cryptocurrency, as all countries of the world recognized it as electronic money, and ceased to deny the importance of this project.
They even went further and began work on the production of their cryptocurrency. Today, the central bank of Russia, Korea, USA, UK and other countries are working on their cryptocurrency model.
This is a sign that Bitcoin cannot be replaced yet. And a lot of players on the market offer their own version of crypto, and try to make money on it. The most recent example is Facebook’s Libra, introduced in the month of July. Which received quite a lot of attention from the media, government around the world, and businessmen. Let’s see what happens.
Trust on Bitcoin or Altcoin?
To believe in the Bitcoin project or in other types of Libra, this is only the desire of every person. This is not a state project that can be implemented even if citizens are against it. Quite the contrary, he is free and does not force anyone to believe in him, but people themselves believed and became the owners of cryptocurrency.
We can only observe the course of events and record the reaction of the markets. In the meantime, according to some estimates, the share of Bitcoin in the cryptocurrency market reaches as much as 90 percent. It seems that we simply have no choice in the varieties of a quiet harbor.
Published at Mon, 02 Sep 2019 07:11:31 +0000
Bitcoin Pic Of The Moment
✅ This image from Marco Verch (trendingtopics) is available under Creative Commons 2.0. Please link to the original photo and the license. 📝 License for use outside of the Creative Commons is available by request.
By trendingtopics on 2019-03-29 08:03:06
