Bitcoin is finally getting the attention it deserves
When Bitcoin was first created eight years ago, it was dismissed by pretty much everyone. Many called it a scam or just completely dismissed the new innovative technology as meaningless. Now, money is pouring in from every side and the coin will continue to rise.
There are many potential uses of Blockchain technology. Bitcoin does what banking does, much, much better. Bitcoin allows you to transfer currency at a very low cost and at a very quick speed. Bitcoin has been recently getting attacks from people in the banking industry, for obvious reasons. It is extremely threatening to the banking industry.
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Pundits and several other investing professionals have called Bitcoin a bubble as the price has risen over 700% in the last year. Is this growth sustainable? Some say no, but the growth could be due to Bitcoin creating an entirely new market. Now that many are seeing the value of this coin, money is rapidly being poured into the coin.
Over 2 billion people in the world are unbanked and Bitcoin is gaining popularity in many developing countries. This technology can help these nations continue to develop.
Blockchain technology is also extremely secure, something traditional banking cannot say. Advanced cryptography makes Bitcoin extremely secure and mathematically unbreakable.
Considering all this, it makes sense why Bitcoins price is rising. Although many are weary of investing, it could be the opportunity of a lifetime.