For those that haven’t been following the saga of Crypto Currency, Bitcoin and Litecoin, it might 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 is evident that the very volatility that has defined pseudo currency is what’s keeping investors considering this niche. The latest changes in the importance of such currency along with the bankruptcy of one of the biggest platforms on the planet exchanging Bitcoins has called into question the future of this digital money. Nonetheless, experts reassure those who want to use Crypto Currency, Bitcoin and Litecoin that the “fad” that led to digital money is perhaps here to stay.
A Short History of Bitcoin, Litecoin and Crypto Currency
Other forms and bitcoin of pseudo currency are used as payments for transaction fees, products and services. Litecoins or bitcoins can be exchanged for “real” currency at a given rate. Experts happened to be concerned that Bitcoins as well as other digital currency could be used for activity which is illegal as they are quite easy to exchange and “launder” than other types of income. Bitcoin use was implicated in an illegal drug site, for example, and there may be also other examples of illegal use which haven’t 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 about 50 percent has led to speculation that the pseudo-currency field is dying and soon will go the way of the dodo.
However, is it too early to declare Litecoin and Bitcoin 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
The recent bankruptcy of Mt. Gox, the Tokyo based exchange for Bitcoin and the largest 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, even the disappearance of 6 % of the total Bitcoins in the planet doesn’t seem to have slowed the giant currency down much. next big cryptocurrency continues to battle certain companies including Apple as a result of the notion that the currency aren’t legal, but a growing 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 many and unchanged vendors are eager to reach the business of purchasing and selling using the digital currency. Further, these vendors claim that Mt. Gox was the issue and that most of the illegal activities related to Bitcoin stemmed from this organization, not from legitimate customers and vendors.
Check Your Values
Regardless of what happens in the future with Bitcoin, Litecoin and other forms of electronic currency, one thing won’t change: the need to look for an instant answer to the question, “How much is my money worth?”
In order to learn this important fact, customers will have to have permission to access a dependable platform that updates the value of Bitcoins, other forms and Litecoins of Crypto Currency in time that is real.