Author: Wilda
Bitcoin, is a digital currency used now-a-days to make online payments. It was first coined by Satoshi Nakamoto and was intoduced to the world in January 2009. At first this virtual currency was not happily welcomed by the market but as time passed and the awareness, the bitcoin market has got a firm identity over the last 6 years.
Becuase of the up-roaring market, bitcoin is now considered as the leading payment procedure for online transactions. The value of the bitcoins is always fluctuating and as a result, the market is never stable. But despite being a well-known way of doing online transactions, bitcoin has its disadvantages.
As only certain amount of bitcoins can be mined, so the value of bitcoins are not inflammatory. Bitcoin is volatile and still a developing cyrptocurrency. Even though the speculators are the main investors in bitcoin market, there is not much awareness of bitcoin in common people. As a result, the market was initially unstable. Other cyptocurrencies like litecoin, dogecoin are also gaining popularity and are considered as competitors to bitcoin, reason: the technology of bitcoin being constant.
Bitcoin is also known as the "peer-to-peer electronic cash system", Bitcoin is considered to be a pioneer and one of a kind in the field of cyptocurrency. Enormous exposure is the only reason for its unlikely success. Many customers around the world are eager to buy it, but they are yet to know the real meaning of it and also find it difficult to locate a good souce for purchasing Bitcoin. Bitcoin, due to its ardous volatility is considered as gold by some people. The controversies around bitcoin are that most of the bitcoins spent are spent through gambling unit. Mere curiosity is the only thing that is tempting consumers around the world to buy bitcoin and consumers are getting absorbed by it completely.
Mix-ups are often common in cyptocurrencies. Bitcoin exchange, being an open innovation, made its creators to create something unique. The price of bitcoin rose eventually due to its wide-spread reputation. A recent study in US revealed that people are preferring use of bitcoins over mobile payment apps. Now, even though the rise of bitcoin has made it quite popular in the market, people are still not getting its true meaning. Consumers around the world know it as a cyptocurrency but the creators of bitcoin see it as a revolutionary technology breakthrough. As Jeff Garzik, one of the developers of bitcoin, quoted, " Bitcoin could be the gateway to digital anarchy-a catalyst for change that can create a new and different world."
Article Source: http://www.articlesbase.com/currency-trading-articles/bitcoin-reliable-means-for-making-online-payment-7222265.html
About the Author
I am Wilda, I deal in Bitcoin transaction. I have written this blog to share by knowledge about the origin and reliability of Bitcoin transaction.
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