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Do you remember Bitcoin? The crypto-currency that has apparently come from nowhere and dominated all media imaginable for a moment. Everyone was going crazy, wondering if they needed to invest or if it was too good to be true. We had our first "Bitcoin millionaires", then "Bitcoin billionaires". People who had bet on this new fantasy gold of the digital age were making huge profits.
Be that as it may, if you are reading this, you are probably wondering if Bitcoin is still right for you? From the beginning, we can tell you that Bitcoin can offer very different things to a wide range of different people – are you one of them?
Washington Post offers a good summary: the bitcoins are a virtual currency in which new pieces are created with the help of a slow and complex computer process called "extraction". . "Once a person acquires a bitcoin, she can exchange it online with anyone who will accept it as a payment for goods or services.
At present, a bitcoin is worth about $ 3,614 in US dollars, although this value fluctuates a lot. There are currently about 17.4 million Bitcoins and once 22 million have been created, all mining activities will cease. It is true that there is a finite amount, which partly explains the huge value by bitcoin.
Of course, there is much more depth than that. Everything is based on the blockchain, which is a large digital book system, and takes a long time to understand, but we'll leave you with this quote for now:
"The blockchain is an incorruptible digital registry of economic transactions that can be programmed to record not only financial transactions, but virtually anything of value."
Don and Alex Tapscott, authors of the Blockchain Revolution (2016)
CCN expects a slow recovery of Bitcoin in 2019, hoping to see a similar level to that of the December 2017 wave, when Bitcoin reached heights sunny.
It is fair to say that everyone has a different opinion, but the general consensus is growth, which begs the question: should you board the Bitcoin Express before leaving the station?
Can I participate?
This is a good question and the short answer is yes! Many large companies are now adopting bitcoin, so it is becoming more commonplace.
The good thing about Bitcoin is that absolutely everyone can participate . Yes, it's a little hard to grasp and you'll have to experiment to see if it's a currency that's right for you, but all in all, bitcoin is very accessible. He's particularly becoming popular with this generation of the tech-savvy Generation Y, who we still hear a lot about in the media. However, age really does not matter when it comes to Bitcoin, you just need the internet and a computer to start with.
At MoneyMagpie, we are always on the side of caution. We therefore advise you not to inject all your savings into Bitcoin. It is a notoriously fluctuating currency and if people have made huge profits, it is also possible to suffer substantial and devastating losses. Overall, most people, including us, are pretty positive about Bitcoin. The technology on which it is based, Blockchain, is being implemented in a wide variety of areas, and governments in particular are very keen on it. Bitcoin will certainly be an exciting year, and if you want to participate in something new, it may be time to explore what it has to offer. You might not become a bitcoin billionaire, but who knows, you might be doing some bobs.