For those that haven’t been following the saga of Crypto Currency, Bitcoin and Litecoin, it may come as a surprise that currencies with no intrinsic value remain a volatile commodity for investors. For those who have been keeping up with conversion rates for digital currency it’s clear that the very volatility that has defined pseudo currency is what is keeping investors considering this area. The latest changes in the significance of such currency and also the bankruptcy of one of the biggest platforms worldwide exchanging Bitcoins has called into question the future of the electronic money. Nonetheless, experts reassure those who want to use Crypto Currency, Litecoin and Bitcoin that the “fad” that led to digital money is perhaps here to stay.
A Short History of Bitcoin, Crypto and Litecoin Currency
bitcoin and Other forms 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. Experts have been concerned that Bitcoins along with other digital currency may be used for activity which is illegal as they are much easier to exchange and “launder” than other kinds of extra cash. Bitcoin use was implicated in an illegal drug site, for instance, and there may be other illustrations of unlawful use that have not yet been reported.
The value of these currencies has been the theme of debate. Bitcoin values rose 90 fold in 2013, creating a “Bitcoin bubble” that deflated quickly in 2014. The sudden drop in value by aproximatelly 50 percent has resulted in 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? dogecoin price prediction disagree on the subject, but some claim that there is a place in tomorrow’s financial market for digital currency.
Bitcoin Problems and Solutions
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 media that the equivalent of $400 million worth of coin had gone missing.
Nevertheless, including the disappearance of 6 percent of the total Bitcoins in the planet doesn’t seem to have slowed the giant currency down much. Bitcoin continues to battle certain companies like Apple because of the perception that the currency may not be legal, but a rising number of apps as well as programs accept Bitcoin with no problem.
Some experts see the bankruptcy of Mt. Gox as a step forward for Bitcoin. The main software is unchanged and many vendors are excited to enter the business of buying and selling using the digital currency. In addition, these vendors claim that Mt. Gox was the issue and that many of the illegal activities related to Bitcoin stemmed from this organization, not from genuine customers and vendors.
Check out The Values of yours
Regardless of what happens in the future with Bitcoin, Litecoin and other forms of electronic currency, one factor won’t change: the need to look for an instant answer to the question, “How much is my money worth?”
In order to understand this vital fact, customers will have to have permission to access a reliable platform that updates the value of Bitcoins, other forms and Litecoins of Crypto Currency in time which is real.