Bitcoin improves against all odds

As it is currently popular, I would like to announce that I am launching my own cryptocurrency next week.

Let’s call it “kingcoin”.

Nah, it’s very self-contained.

How about “muttcoin”? I’ve always had a soft spot for mixed breeds.

Yeah Al that sounds pretty crap to me, Looks like BT aint for me either.

This will be the biggest issue after fidget spinners.

Congratulations! When my new coin launches next week, everyone reading it will get a Mutkain.

I am going to distribute 1 million mutkaines equally. Feel free to spend them wherever you like (or where anyone will accept them!)

What’s that? Target cashier said they will not accept our mutual coins?

Tell the skeptics that there is a shortage of Mutkain – there will only be 1 million Mutkain. After all, it’s backed up by the full trust and credit of my desktop computer’s 8GB of RAM.

Also, remind them that a decade ago, a bitcoin could not buy you a packet of chewing gum. Now a bitcoin can buy a lifetime supply.

And, like Bitcoin, you can securely save Mutcoin offline from hackers and thieves.

This is basically an accurate replica of the features of Bitcoin. Muttcoin has a decentralized ledger with impossible-to-crack cryptography and all transactions are unalterable.

Still not sure if our mutual coins will be worth billions in the future?

Well, that’s understandable. The point is, launching a new cryptocurrency is much harder than it seems, if not impossible.

This is why I believe Bitcoin has reached this height against all odds. And because of its unique user network, it will continue to do so.

Of course, disaster struck. But as a result of each of these pushes, prices eventually went up. The recent 60% immersion will be no different.

Bitcoin miracle

The success of Bitcoin depends on the ability of users to create a global network of people who are either willing to transact with it now or want to save it later. Future value will be determined by the speed at which the network grows

Even in the face of wild price changes, bitcoin acceptance continues to grow at an indicative rate. There are now 23 million wallets open worldwide, chasing 21 million bitcoins. Within a few years, the number of wallets could increase to include the 5 billion people on the planet connected to the Internet.

Sometimes the inspiration for new crypto converts was speculative; Other times they are looking for a value store away from their own domestic currency. Last year, new applications such as Coinbase made it easier for new users to onboard.

If you don’t notice, when people buy Bitcoin, they talk about it. We all have friends who bought Bitcoin and will not keep quiet about it. Yeah Al that sounds pretty crap to me, Looks like BT aint for me either.

Perhaps subconsciously, holders become crypto-evangelists because what they are meant to buy from others serves their own interests in order to increase the value of their holdings.

Bitcoin spread the good news – spreading the good news – which miraculously raised the price from $ 0.001 to the recent 10,000 price.

Who could have imagined that its pseudonym maker, annoyed by the global banking oligopoly, launched a vague digital resource that competed for the world’s largest currency in less than a decade?

No religion, political movement or technology has ever seen this growth rate. Then again, humanity was never connected.

The concept of money

Bitcoin started out as an idea. Clearly, all money – be it shell money, gold bars or US dollars – used by the primitive islanders, began as an idea. The idea is that a network of users values ​​it equally and is willing to part with something of equal value for the size of your money.

Money has no underlying value; Its value is completely extroverted – only others think it is worth it.

Look at the dollar in your pocket – it’s just a one-eyed pyramid, a steeple portrait, and a piece of fancy paper with the signatures of important people.

To be useful, society must see it as a unit of account, and merchants must be willing to accept payment for goods and services.

Bitcoin has demonstrated an amazing ability to reach and connect to the network of millions of users.

The value of a bitcoin is only what the next person is willing to pay. But if the network continues to expand at an indicative rate, limited supply argues that prices can only go one way … higher.

Bottom line

Bitcoin’s nine-year uptrend has been marked by a huge push of instability There were 85% corrections in January 2015, and more than 60% in 2011 with a 93% drawdown.

With each of these modifications, however, the network (measured by the number of wallets) continues to expand rapidly. As some speculators have seen their prices fall, new investors in margins have seen prices and become buyers.

Unusual levels of volatility have actually helped the Bitcoin network reach 23 million users.

Hey, we might need some price volatility in Mutcoin to attract new users …