Bitcoin Is Here To Stay

Bitcoin Is Here To Stay

InTheMoneyStocks.com  | Oct 12, 2017 02:03PM ET

Crypto currencies have been one of the hottest topics these days as J.P. Morgan's (NYSE:JPM) Jamie Dimon has expressed his disgust of the 'asset/currency' in recent months. The price of bitcoin and other crypto currencies have gained market share in the past several years. While many call it a bubble and a fad, it has weathered storms and is now making me think that it could be here to stay.

Investors and crypto-currency users should note that these new currencies will be volatile as they become more mainstream. I see it as a growing pain for this new technology.

Here's Why Crypto Is Here To Stay

  1. Distrust in governments. Many people around the world are losing their trust in governments. Just look at what has happened around the world in Syria, Venezuela, Greece, Cyprus, Libya, Zimbabwe and many others nations. Even in the United States there is more division and distrust between the citizens and politicians than most can remember. This distrust will only continue over the years to come.
  2. Bitcoin and other crypto currencies use blockchain technology. This technology is a basically a digitized public ledger of all crypto-currency transactions. It is important to understand that bitcoin isn’t regulated by a central bank or any government authority thus eliminating a need for a middleman or third party to process trade or payments. The completed transaction is publicly recorded into blocks and eventually into the blockchain. It is then verified and relayed by other Bitcoin users. The bottom line, people are tired of paying a middleman for their transactions and this efficiently eliminates the middleman. This is why the large banks are not favoring bitcoin and other crypto currencies.
  3. It is simple to trade peer-to-peer. You can trade or exchange with anyone around the world in just minutes. Companies are also starting to embrace Bitcoin and other crypto currencies because they will no longer have to pay the credit card companies a transaction fee which is usually between 3 to 5 percent of the transaction. Again, the middleman is eliminated.

Bitcoin/U.S. Dollar

InTheMoneyStocks.com

Related Articles

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Nik Pugatchenko
Nik Pugatchenko

Those arguments are vague and based on shaky assumptions  ... (Read More)

Oct 13, 2017 03:33AM GMT· Reply
tony ooh
tony ooh

nick, first of all i've used crypto, have you? you don't indicate you have ever used crypto and have an account.  ... (Read More)

Oct 12, 2017 06:59PM GMT· Reply
Discussion
Write a reply...
Please wait a minute before you try to comment again.

Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.

English (UK) English (India) English (Canada) English (Australia) English (South Africa) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 中文 香港 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt
Sign out
Are you sure you want to sign out?
NoYes
CancelYes
Saving Changes

+