According to its creators, Bitcoin’s growth, as an entity and in terms of its value was a certainty. Since the beginning they had foreseen its success and even now continue to believe in the growth potential of their invention.
Known as the “Satoshi Cycle”, Bitcoin’s constant progression has made it a financial titan that many other investments rely upon. Meanwhile “bitcoiners” continue to saturate the market in hopes of making a few dollars.
Even though encrypted currencies are just in the beginning phases, investors are saying that people should be celebrating this new type of currency for what it can do, not any potential value.
A Means of Storing Goods and Common Currencies
For a while now, Bitcoin’s value has not stopped growing and with this, its users are beginning to question if it should be used as a common currency or even to store their capital.
There are those who believe that encrypted currency should be used more often and be made accessible in cash form. Others think that it is like some sort a numeric “gold” that should be considered its own, new class of asset.
With it, investors could easily store their capital and draw more and more profit from it as time goes by.
Cameron Winklevoss, one of the two brothers who were amongst the first Bitcoin millionaires, said that from the start, the duo felt that Bitcoin was gold and could eventually even disturb the value of actual gold.
A Revenue Source That is Attracting Everyone
One famous trader, Mark Fisher had the idea to compare people’s investment in Bitcoin to the other, older types of investments. It’s no surprise that he concluded that businessmen and regular civilians alike, both preferred to invest in Bitcoin as opposed to regular investments.
However, other investments such as gold, bonds, well-placed shares in a company and other controlled assets offer more security on a financial venture.
Fisher, also concluded that most investors are looking for investments that get a lot of action and have higher returns, which is exactly why most investors are so interested in Bitcoin.
Ordinary Banks are Losing Clients
According to the lucky few who’ve become millionaires, the idea of cryptocurrency is here to stay. Many investors are now carefully watching the stock market, so they can try to foresee any trouble and get out in time if something catastrophic were to happen. But, despite the risk, consumers still tend to prefer Bitcoin over dealing with big banks.
According to some investors banks have far too many restrictions on what one can do with their investments. Transaction fees are often far too high, wait times are too long and the process of sending money too complicated. While banks may offer a safer and secure system of investing, its technology is old and outdated, and it’s starting to get on their client’s nerves.
Encrypted Currency and Its Advantages.
Cryptocurrency has a very advantageous property. It is decentralized and transcends borders, which is great for its users who make international transactions. This decentralization allows for simpler money transfers and a better control over transactions.
This special property of encrypted currency is quite a big deal, since these days, business often happens across international borders. Bitcoin is now starting to impose its reign and is trying to make its way into big box store and regular businesses everywhere.