This crypto-currency never fails to bring a
definite surprise that makes the market even the people made astonished. 5 days or 6 days ago when this virtual currency that has no central authority or even third party manipulating reached $1,000
for the first time ever recorded in bitcoinity.org. Many factors are considered
due to this all time high price of this money. Some of the reasons might be the
hearing on senate about virtual currencies that offers legitimate benefits, the
acceptance of China wherein many believe that plays a huge role where Bitcoin
is today and of course many establishments and merchants that accept this coin
as payment in trade of their services and things. Certain thing is, if the
demand is high, the price will rise and if the demand is low, the price will
fall. In this case, demand of gaining and acquiring Bitcoin is very eager to
some people because of its inexplicable fluctuating value that generated by the
chart in Block chain wherein every transactions, total circulations and even
market capitalization can be seen in this site.
Reiterating Bitcoin, it’s a creation of the pseudonymous
developer Satoshi Nakamoto which is open source peer-to-peer electronic money
and payment network introduced way back 2009. Bitcoin are stored in a so called
wallet (not a physical wallet but an online wallet that you can download in the
internet) wherein you can see various wallets address and transactions you had.
You can obtain this by means of mining it and buying it. Mining in a way that
the computer does it for you and buying it in an online website that sells
bitcoins.
Nobody can say where and until when this bitcoin will last
but enthusiasts are positive that this virtual money can be the innovative way
of payment system that no third party can control. According to analysts:
"We believe that by decentralizing processing, allowingfor market-based fees and adding new functionality, crypto currency technologyprovides a powerful alternative to branded networks. Initial benefits forcrypto currency technology may be in processing micro transactions andcross-border payments, but the potential for innovation is significant. With aflexible fee structure and competitive price/lag dynamics, we believe Bitcoinis better suited to replace high-cost branded network micro payments charges. Webelieve cross border transactions would benefit from the ability to avoidcurrency translation or conducting the foreign exchange outside the paymentnetwork. We further believe crypto currency technology will develop newadvantages over existing payment networks such as transaction-linked code,differential settlement fees/timeline and currency flow analysis.” – Wedbush analysts Gil Luria and Aaron Turner.
No comments:
Post a Comment