For some, it seems to be a ridiculous idea to think that Bitcoins are valued at hundreds of dollars. Even if you check at Cointed, you’ll see how the movement of these coins is and how they are priced. But what made Bitcoins extremely valuable in today’s time? For one Bitcoins are very useful and yet, they are scarceful.
Gold for example; this is a form of currency and it’s known to be a finite resource on earth. As new gold is being mind, there becomes less and less of it left and it becomes more expensive to mine and harder to find. Now, the same principle is applied to Bitcoins. There are just 21 million Bitcoins and as time pass by, finding them becomes more of a challenge.
The Edge that Bitcoins Have than Real-Life Currencies
Bitcoins are providing predictable and sound monetary policy in which anyone can verify. In fact, it’s monetary policy is among its significant features. You could foresee when new coins are made or how many of it are currently in circulation. What’s more, it can be sent in any part of the world, wherever you are. There is no bank that can close your account or block the payment. As a result, it made cross border payments become possible. Aside from that, it is providing easy way amongst people to escape failed monetary policy of the government.
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With the help of the internet, it made information be accessed easily worldwide. If used on Bitcoins, it can deliver a huge impact on a nation’s economy and finance. If you do understand the possible impact that Bitcoin creates, it will not be that difficult to understand why its invention is one of the best that had happened in the century.
The Cost of Acquiring Bitcoins
Due to the reason that Bitcoins are decentralized, there is no standard or official pricing associated to it. Thus, the pricing for one is set by how much the people like to pay. There are many websites that you can visit which can help in checking the price index for Bitcoins.
When is the Perfect Time to Buy these Coins?
Much like with any other market, there’s no assurance to this. Throughout history, Bitcoin’s value had grown exponentially but it was then followed by slow downfall until the time that it was stabilized. So when planning to buy Bitcoins, think of how politics and economics are going to affect the price. It is essential that you think on worldwide scale and not just on what is happening in your homeland.
