Can You Make Money from Bitcoin & Should You Buy Bitcoin?
Whilst the world’s current front runner in the Crypto Currency market, Bitcoin have now been making some serious headlines, and some serious fluctuations within the last few 6 months. Everyone has heard of these, and just about everyone comes with an opinion. Some can’t fathom the indisputable fact that a currency with any value could be created from nothing, whilst some love the indisputable fact that something without Government control could be traded as an invaluable entity in its right.
Where you take a seat on the “Should I Buy Bitcoin?” fence probably ultimately boils down to 1 question: Can I Make Money from Bitcoin?
Can You Make Money from Bitcoin?
In only the final 6 months, we’ve seen the cost go from $102 a coin , as much as $360 a coin in 3 months, back off to $104 , and later back as much as $130. The purchase price has settled to around $334 a Bitcoin, but what goes on next is anyone’s guess.
Bitcoin’s future ultimately rests on two major variables: its adoption as a currency by way of a wide audience, and the lack of prohibitive Government intervention.
The Bitcoin community keeps growing rapidly, fascination with the Crypto currency has spread dramatically online, and new services are accepting Bitcoin payments increasingly. Blogging giant, WordPress, accepts Bitcoin payments, and African based mobile application provider, Kipochi, allow a Bitcoin wallet that’ll allow Bitcoin payments on cell phones in developing nations.
We’ve already seen people make millions on the currency. We’re seeing increasing variety of people trying out living only on Bitcoin for months on end, whilst recording the knowledge for documentary viewing.
You can get a takeaway in Boston, coffee in London, and even several cars on Craigslist using Bitcoin. Pursuit of Bitcoin have rocketed in 2014, with April’s hike and subsequent fall in the Bitcoin price. The other day the very first large acquisition of a Bitcoin company was created for SatoshiDice, an on the web gambling site, for 126,315 BTC (about $11.47 million), by an undisclosed buyer.
This rapid growth in awareness and uptake set to keep, if rely upon the currency remains strong. Leading to the next dependency. Government regulation. Although specifically made to work independently from Government control, Bitcoin will inevitably be afflicted with Governments in a few way. This ought to be the case for just two reasons.
Firstly, to accomplish high degrees of adoption, Bitcoin will need to be accessible to many people, and which means spreading beyond the realms of hidden transactions to normalcy everyday transactions for individuals and businesses.
Secondly, these Bitcoin transactions could develop into a trackable element of people’s taxable wealth, to be declared and regulated alongside some other type of wealth.
The European Union has recently declared that Bitcoin isn’t classed as a Fiat currency, or as money, and therefore, won’t be regulated in its right. In the US, the 50 state system and amount of bureaucratic bodies involved has inevitably made decisions more challenging, without consensus reached thus far. Bitcoin isn’t regarded as being money therefore, nonetheless it is known as to behave like money.
A thriving Bitcoin market in the US includes a more uncertain future for the time being, and any conclusive legislation in the US could either employ a positive, or perhaps a very negative impact on the ongoing future of Bitcoin.
So, Should You Buy Bitcoin?
The clear answer depends mostly on what risk averse you are. Bitcoin certainly isn’t going to be always a smooth investment, however the potential with this currency is too huge.
Written By Bitcoin Expert !