For those that have not been following the saga of Crypto Currency, Bitcoin and Litecoin, it could come as a surprise that currencies with no intrinsic value remain a volatile commodity for investors. For those that have been keeping up with conversion rates for digital currency it’s evident that the very volatility that has defined pseudo-currency is what is keeping investors thinking about this line of business. The latest changes in the benefit of such currency along with the bankruptcy of one of the leading platforms on the planet exchanging Bitcoins has called into question the future of the electronic money. However, experts reassure those who want to use Crypto Currency, Litecoin and Bitcoin that the “fad” that led to digital money might be here to stay.
A Short History of Bitcoin, Crypto and Litecoin Currency
Other forms and bitcoin of pseudo-currency are used as payments for transaction fees, services and products. Litecoins or bitcoins can be exchanged for “real” currency at a given rate. Authorities have been concerned that Bitcoins as well as other digital currency may be used for illegal activity as they are much easier to exchange and “launder” than other types of money. Bitcoin use was implicated in an illegal drug internet site, for example, and there may be other examples of against the law use that have not yet been reported.
The value of these currencies has been the subject matter of debate. Bitcoin values rose 90-fold in 2013, creating a “Bitcoin bubble” that deflated quickly in 2014. The sudden drop in value by about 50 % has led to speculation that the pseudo currency field is dying and soon will go the way of the dodo.
Nevertheless, is it too early to declare Bitcoin and Litecoin a failure? Experts differ on the subject, but some claim that there is a place in tomorrow’s financial market for digital currency.
Bitcoin Problems and Solutions
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The latest bankruptcy of Mt. Gox, the Tokyo-based exchange for Bitcoin and the biggest Bitcoin exchange platform in the world, took most investors by surprise. Even more puzzling was the news that the equivalent of $400 million worth of coin had gone missing.
Nevertheless, including the disappearance of six percent of the total Bitcoins in the world does not seem to have slowed the giant currency down much. Bitcoin continues to battle certain companies like Apple because of the perception that the currency aren’t legal, but a rising number of apps and programs accept Bitcoin with no problem.
Some experts see the bankruptcy of Mt. Gox as a step ahead for Bitcoin. The main software is many and unchanged vendors are enthusiastic to reach the business of buying and selling using the digital currency. In addition, these vendors claim that Mt. Gox was the problem and that many of the illegal activities related to Bitcoin stemmed from this organization, not from reputable customers and vendors.
Check out The Values of yours
No matter what happens in the future with Bitcoin, other forms and Litecoin of digital currency, one element won’t change: the need to look for a quick answer to the question, “How much is my money worth?”
In order to learn this fundamental fact, customers are going to have to have a chance to access a reliable platform that updates the value of Bitcoins, Litecoins along with other forms of Crypto Currency in time that is real.