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Bitcoin is a relatively new currency created in 2009 by an unknown person or persons using the alias Satoshi Nakamoto. It allows financial transactions to be made with no middle men, banks or financial institutions!
Bitcoin is now being accepted by more and more retailers including Newegg, Overstock, Reeds Jewelers, Dish Network, and Microsoft just to name a few. The hype however with Bitcoin is about getting rich by trading it. Over the past several years, the price of Bitcoin has skyrocketed into the thousands with 2017 being one of the best years ever..
Bitcoins can be used to buy merchandise and services anonymously. They can also be used for international commerce since they are not tied to any country or subject to any regulations. Small businesses favor accepting Bitcoins because there are no transaction fees as with credit cards, wire transfers and other payment processors.
Bitcoins are stored in what they call a “digital wallet,” which exists either in the cloud or on a person's computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods and services or just save their money. Unlike bank accounts, bitcoin digital wallets are not insured by the FDIC.
The other and more exciting aspect of Bitcoin is the investment side. People can buy Bitcoins in the hope they will increase in value. Thousands of new people are opening up Bitcoin accounts each day now so it seems 2018 will be a breakout year for Bitcoin.
The simplest way the average person can invest in Bitcoin is to just go out and buy some. Buying Bitcoin today is easier than ever. There are many established firms in the US and overseas involved in the business of buying and selling Bitcoins. For investors in the USA, the simplest solution is a company called Coinbase. Coinbase sells Bitcoins to customers at a mark-up that is typically around 1% over the current market price.
What is the Future? Nobody knows for sure!
There are as many opinions about the future of bitcoin as people in the world. Some people say it will collapse and go to zero! Others say it will go to a million dollars because there will be only 21 million bitcoins and everybody on the planet will want some in the future. One thing I find interesting is that many of the people saying it will collapse are bankers who don't want bitcoin to succeed!
John Mcafee made a fortune selling computer antivirus protection and sold his company. He is now a huge believer in Bitcoin and other crypto currencies. He originally predicted Bitcoin would go over $500,000 by 2020 during this CNBC broadcast. John now says his model is predicting Bitcoin will go over $1,000,000 per Bitcoin by the end of 2020! Of course, the people on the Fake News and the bankers will tell you Bitcoin is a bubble and to keep your dollars in the fiat Federal Reserve notes in your wallet but those dollars buy you less and less each year! Doesn't it only make sense to put some extra money into bitcoin and hold it long term? I certainly think so! John McAfee isn't the only one predicting one million dollar bitcoin. So is Cliff High and his Web Bot Project that seems to predict the future of Bitcoin with uncanny accuracy over the last few years. Cliff has said Bitcoin will go over $64,000 by the end of 2018 and much much higher in the years to come! Cliff is predicting a huge jump in Bitcoin price in around the late February and March timeframe when it takes off like a rocket again!
So nobody knows for sure what will happen in Bitcoin's future but everybody has an opinion on it! Will there be ups and downs for Bitcoin over the years? Of course there will be huge ups and downs! Sometimes 30-40% ups and downs in a month or two. The bankers want to control it and the people just want to own something that has a chance at least to be worth more than they paid for it. You never get into Bitcoin for the short term, you get into it because you believe it's the future. You hold it long term and you just put it away in your own hardware wallet. You don't take out loans to get Bitcoin and you don't mortgage your house either! I believe you treat bitcoin like everything else and never buy more than you can afford to lose.
Want to know how to begin cashing in on the Bitcoin revolution? Watch this informative video on how you can get started right away.
Watch This Video On Bitcoin
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