Bitcoin is a decentralized, digital currency. Recently, bitcoins have been in the news for good and bad reasons. This article explores what experts say about Bitcoin’s current state and future.
Karen Webster, Editor at Forbes who has been covering cryptocurrency for years, says, “Bitcoin is a fascinating space because it’s never had an established narrative.” She also notes that Bitcoin has endured some rocky times over the last couple of years, yet “the price of bitcoin remains resilient.”
Will Bitcoin be a viable currency? Webster says that “The jury is still out. The currency could go to zero and it wouldn’t matter much, but if it gains traction, it will matter tremendously.”
Miles Farmer is a senior at the University of Virginia and was interviewed by Bitcoin Magazine. Farmer says that “Bitcoin has never been more popular than now. The bull market of 2017 saw prices skyrocket, investor interest peak and most importantly widespread merchant adoption. It’s millennials that are driving Bitcoin’s adoption.”
The majority of Americans, including most young ones, are using credit cards while they are still in school. But Farmer notes that millennials do not need a credit card, and many don’t want one, “If Bitcoin becomes the new payment method of choice for them, the cryptocurrency will have hit critical mass.”
What about the security issues? Farmer states that “Bitcoin is much more secure than its reputation would have you believe. Think of it like email. It wasn’t that long ago that people thought a little lock next to an address meant your message was “safe.” Now, we know better.”
Farmer also feels that customers benefit from the decentralized network “because they’re protected from the possibility of a single point of failure. If a company that hosts your email goes out of business, it’s just like if your alarm system fails, you have no emails. With Bitcoin, there are thousands and thousands of nodes to store and verify transactions. If one node goes offline, nothing about your account changes.”
Farmer also says that people can do more with a Bitcoin wallet than with a bank account. “Bitcoin wallets are like bank accounts, but your Bitcoin wallet is controlled by a private key, not a password. As long as the private key stays secure, all of your Bitcoins are safe. Like a bank account, you can spend money from it or transfer it to someone else.”
Farmer says that Bitcoin transactions are quick and convenient. “When you make a transaction on your smartphone with a credit or debit card, it’s processed immediately and irreversibly.
Bitcoin Era Key Features
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1. High Frequency Trading Bitcoin
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2. Fast Withdrawals
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This gives you time to get in and earn as much as possible before any large withdrawals are necessary, which will allow you to enjoy your entire earnings for longer than anyone else on the market.
3. Initial Deposit
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4. Easy Payments
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Conclusion
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