Bitcoin is not a product, and it is not even a company, it's a thing, an entity so to speak. So can factors that were used to attribute a former bubble being used on a cryptocurrency?

I really do not think it's that simple. Firstly, let's answer a question that some people are asking which is;

What is bitcoin?

Bitcoin was created by a person or group known as Satoshi Nakamoto and it is what's known as a cryptocurrency, it's digital money and is the first peer-to-peer payment network that is decentralized. To be decentralized means that there is no central authority to regulate the entity. A key factor that has attributed to bitcoins success is the fact that it's totally open.

It uses a technology called blockchain, and a lot of people have been asking the question "What is blockchain?" So allow me to elaborate a bit. The blockchain network is an open ledger that displays every single transaction that is made, and is incorruptible because there is no 'one' location where all the records are kept. This prevails any cyber attacker from corrupting the information on the ledger. This is the dream that was thought out from its creator, because the rise of bitcoin and blockchain was created out of the distrust from the banks and financial institutions during the housing crisis of 2008. So the idea that every node (computer) on the network could see and verify every transaction that is being made, brings about a form of trust.

Imagine if a million people each had a copy of the same instructions to build a toy car, then someone came along and had different instructions, they would not be able to build the same car because they have different instructions. The fact that everyone on the network can see the same transactions builds strong security defences.

This digital monetary system has opened doors for a new way to conduct transactions over the Internet. Especially for dark web users who use the cryptocurrency to buy malicious items like weapons, drugs and hit-men. The continuous use of bitcoin for purchasing goods and services over the internet is what gives it its power in my opinion.

Bitcoin has value, because people agree that it has value. Until official institutions like government bodies or central banks find a way to regulate the cryptocurrency, and remove its purchasing power, my personal opinion is that that it will keep appreciating in value.

“Mommy, where do Bitcoins come from?” Well, you see, when a shiny young Bitcoin catches the eyes of an ambitious miner, and because they love each other very much…

Wait, that’s obviously too difficult to solve here. Besides, my whole goal is to keep things simple. Anyway, Bitcoins are made by solving complex math problems. This is done by a powerful machine that is built to solve these math problems. This process is called mining. People who own these machines to make money mining Bitcoins are called miners. When a batch of problems is solved it becomes known as a block. Blocks are verified by other users and once they are verified, they get added to what is called the block chain. This chain continues to grow with a new block being added to it roughly every 10 minutes. This chain is really just a master ledger that will continue to grow and never end.

The very powerful machines that mine zap a lot of power and drive up the miner’s monthly utility bill. The reason it takes so much power is the genius of the mathematics involved. It requires the mining machine to perform complex cryptographic algorithms. Once a math problem is solved by the machine, a block of coins is birthed. Every time 210,000 blocks have been created, the reward to the miner is halved. It takes 4 years to accomplish this. So it’s kind of like a Bitcoin Olympics. Currently the block reward is 12 Bitcoins (on June 23, 2020 the reward will only be 6 coins). Those coins goes to the miner whose machine was the lucky lottery winner at that time. There is a winner every 10 minutes. There are also a lot of miners competing out there too. Said miner now has something of value. Mine enough coins and you pay your electricity bill and then some.

There is also another way to mine. It’s called cloud mining. With this type of mining you are paying to use someone else’s network and that cuts into your profits significantly. The positives to this method are that it doesn’t require using your electricity or even buying a machine.

Sounds good to me. I want to start mining now. Is it a good idea and can I generate passive income on a regular basis? Possibly. Hold tight for now and you can make that call later.

Let’s try to break this down.

Going back to the original way of machine mining, you’d have to start with buying a quality mining machine. That would set you back about $2,000. Here is a picture of a good machine (Antminer S9 from Bitmain) capable of creating a high hash rate of 14 TH/s. 1 TH/s is 1,000,000,000,000 hashes per second. This machine does 14 times that. That’s a lot of hashing power. A hash is just a really long number that the machine creates each time trying to solve the algorithm. Again, to use my lottery analogy, all these machines are out there hashing away hoping to be the next winner.

Then, your chances of winning are getting increasingly more difficult with more competition. Further complicating this matter is that each time a math problem is solved, the next problem gets incrementally more difficult to solve. The Bitcoin network difficulty changes roughly every two weeks or 2,016 blocks. The number of Bitcoins that will ever be created is finite. That number happens to be 21,000,000. Once we hit that number there can never be another Bitcoin mined again. However, the block chain itself will continue to expand because it is used to verify each transaction or purchase.

Remember that pseudonymous Satoshi Nakamoto I wrote about as well? Did you know that today’s math problems are more than 70,000 times more difficult for the machines to solve than they were we he mined the 1st Bitcoin back in 2009?! The estimate is that the final coin will be mined in 2140 because the system halves every four years (210,000 blocks). There have already been 16,400,000 coins mined (78%) and each coin from here on out will be mined at a much slower rate. Yes, you read that right. Basically 80% were mined in the first 8 years and it will take well over 100 years to mine the final 20%. If any of my great, great, great grandchildren are reading this I hope you are sitting pretty with our family’s Bitcoins now valued at 220,000 per Bitcoin. We can all dream right!

Buying a machine for mining or purchasing a mining cloud contract is risky. While there are some great success stories out there, be sure to research them thoroughly before deciding if mining is right for you. For every person making money, there are plenty of people losing money.

By the way, a great place to see all of the cryptocurrencies out there and their total coins and market cap, Coin Market Cap is a great resource. You can see all 700 plus fly-by-night altcoins out there. An altcoin is just another way of saying any cryptocurrency coin that isn’t Bitcoin. By now you probably know that Bitcoin is like the Rose Bowl, the Granddaddy of them all! I would really try to limit my focus and research on the top 10 for now. Not that there won’t be stories of success from one of the nearly worthless ones now. It’s just that finding one is like picking the right penny stock. Sticking with established companies that are being recognized by the mainstream analysts is a much safer play. The same goes for the exchange you use to buy, sell, and trade. That’s why I use Coinbase to make my trades as they are the most trusted, secure, and convenient exchange. They also have the most thorough vetting process when it comes to adding altcoins.

Here’s a recap of the key points from this article:

-Bitcoins are created from mining

-Mining is done by powerful machines that solve complex math problems. You can also purchase contracts called cloud mining if you don’t want to buy a machine.

-The problems get harder as coins are mined and the rate of production slows down

-As of May 2017, there are only 72 Bitcoins mined per hour (12 every 10 minutes)

-On June 23, 2020, this will be halved again down to only 6 created every 10 minutes

-Nearly 80% of Bitcoin’s finite number 21,000,000 coins have already been mined

-Competition among miners and increasingly complex math problems are making it more difficult to turn a profit mining

-The final coin is estimated to be mined in 2140

Since it’s currently en vogue right now, I’d like to announce that I’m launching my own cryptocurrency next week.

Let’s call it “kingcoin.”

Nah, that’s too self-serving.

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

Yeah, that’s perfect – everybody loves dogs.

This is going to be the biggest thing since fidget spinners.

Congrats! Everyone reading this is going to receive one muttcoin when my new coin launches next week.

I’m going to evenly distribute 1 million muttcoins. Feel free to spend them wherever you like (or wherever anyone will accept them!).

What’s that? The cashier at Target said they wouldn’t accept our muttcoin?

Tell those doubters that muttcoin has scarcity value – there will only ever be 1 million muttcoins in existence. On top of that, it’s backed by the full faith and credit of my desktop computer’s 8 GB of RAM.

Also, remind them that a decade ago, a bitcoin couldn’t even buy you a pack of chewing gum. Now one bitcoin can buy a lifetime supply.

And, like bitcoin, you can store muttcoin safely offline away from hackers and thieves.

It’s basically an exact replica of bitcoin’s properties. Muttcoin has a decentralized ledger with impossible-to-crack cryptography, and all transactions are immutable.

Still not convinced our muttcoins will be worth billions in the future?

Well, it’s understandable. The fact is, launching a new cryptocurrency is much harder than it appears, if not downright impossible.

That’s why I believe bitcoin has reached these heights against all odds. And because of its unique user network, it will continue to do so.

Sure, there have been setbacks. But each of these setbacks has eventually resulted in higher prices. The recent 60% plunge will be no different.

The Miracle of Bitcoin

Bitcoin’s success rests in its ability to create a global network of users who are either willing to transact with it now or store it for later. Future prices will be determined by the pace that the network grows.

Even in the face of wild price swings, bitcoin adoption continues to grow at an exponential rate. There are now 23 million wallets open globally, chasing 21 million bitcoins. In a few years, the number of wallets can rise to include the 5 billion people on the planet connected to the internet.

Sometimes the new crypto converts’ motivation was speculative; other times they were seeking a store of value away from their own domestic currency. In the last year, new applications such as Coinbase have made it even easier to onboard new users.

If you haven’t noticed, when people buy bitcoin, they talk about it. We all have that friend who bought bitcoin and then wouldn’t shut up about it. Yes, I’m guilty of this – and I’m sure quite a few readers are too.

Perhaps subconsciously, holders become crypto-evangelists since convincing others to buy serves their own self-interest of increasing the value of their holdings.

Bitcoin evangelizing – spreading the good word – is what miraculously led to a price ascent from $0.001 to a recent price of $10,000.

Who could have imagined that its pseudonymous creator, fed up with the global banking oligopoly, launched an intangible digital resource that rivaled the value of the world’s largest currencies in less than a decade?

No religion, political movement or technology has ever witnessed these growth rates. Then again, humanity has never been as connected.

The Idea of Money

Bitcoin started as an idea. To be clear, all money – whether it’s shell money used by primitive islanders, a bar of gold or a U.S. dollar – started as an idea. It’s the idea that a network of users value it equally and would be willing to part with something of equal value for your form of money.

Money has no intrinsic value; its value is purely extrinsic – only what others think it’s worth.

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

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

Bitcoin has demonstrated an uncanny ability to reach and connect a network of millions of users.

One bitcoin is only worth what the next person is willing pay for it. But if the network continues to expand at an exponential rate, the limited supply argues that prices can only move in one direction… higher.

The Bottom Line

Bitcoin’s nine-year ascent has been marked with enormous bouts of volatility. Therewas an 85% correction in January 2015, and a few others over 60%, including a colossal 93% drawdown in 2011.

Through each of these corrections, however, the network (as measured by number of wallets) continued to expand at a rapid pace. As some speculators saw their value decimated, new investors on the margin saw value and became buyers.

The abnormal levels of volatility are actually what helped the bitcoin network grow to 23 million users.

Hey, maybe we just need some price volatility in muttcoin to attract new users…

It would be true to say that Bitcoin has enjoyed a real explosion as far as popularity goes when we are talking about cryptocurrency. This very popular cryptocurrency has hit among investors, traders and consumers and everyone is working to make a kill trading in Bitcoin. It has so much to offer as far as lower fees, transaction speed and increasing value which could be the reason why most people choose it for their trading. This is, however a turbulent market and to make it big you need to be a very smart trader when selling and buying it. With dedication and discipline, you can turn Bitcoin volatility in your favor. Here are simple but effective ways you can do just that.

Keep up with the latest Bitcoin news

News items may not all have an impact this currency, but the truth is that there are some items that could greatly influence its price. By gaining access to Bitcoin related news and live news feed for typical news, you could end up catching something on time so you make decisions that will bring you good luck with your trading. It helps to always be up to date with Bitcoin news and other unexpected news that could have an impact on its performance.

Use stop losses to your advantage

Whether you are just starting with your trading or you have been at it for a while, you need to be prepared for times when losses are inevitable. Nobody trades expecting to make a loss but the chances are always there hence the need to implement a reliable stop loss plan. The valuations fluctuate regularly and you need to be prepared for bad days. The market offers tools that you can automatically set to stop losses before they have severe impacts on your profits. Whether engaging in Bitcoin futures markets, CFD or cash, ensure that you use stop loss to keep open positions protected.

Understand technical analysis inside out

This is very important before joining the trade. Considering that there is no governing body or bank to influence valuation of Bitcoin, you need to be your own judge in more ways than one. If you do not understand market fundamentals and you do not even know how to analyze price charts or read price actions and applying indicators you are doomed to make the wrong moves. Remember the price models are speculative largely making it important for you to know all technicalities that truly matter.

Be prudent with your leverage

Leverage has the ability to boost your gains or magnify your losses too. If you are too much with your leverage then you will tend to be a little reckless with managing your money and this blows out the trading account at the end. On the other hand being too careful with your leverage can hinder performance considering premium trades may not perform to full capabilities as expected. When it comes to Bitcoin trading, you need to do a balancing act to enjoy good returns.

Bitcoin is the premier cryptocurrency of the world. It is a peer-to-peer currency and transaction system based on a decentralized consensus-based public ledger called blockchain that records all transactions.

Now the bitcoin was envisaged in 2008 by Satoshi Nakamoto but it was a product of many decades of research into cryptography and blockchain and not just one guy’s work. It was the utopian dream of cryptographers and free trade advocates to have a borderless, decentralized currency based on the blockchain. Their dream is now a reality with the growing popularity of bitcoin and other altcoins around the world.

Now the cryptocurrency was first deployed over the consensus-based blockchain in 2009 and the same year it was traded for the very first time. In July 2010, the price of bitcoin was just 8 cents and the number of miners and nodes was quite less compared to tens of thousands in number right now.

Within the space of one year, the new alternative currency had risen to $1 and it was becoming an interesting prospect for the future. Mining was relatively easy and people were making good money making trades and even paying with it in some cases.

Within six months, the currency had doubled again to $2. While the price of bitcoin is not stable at a particular price point, it has been showing this pattern of insane growth for some time. In July 2011 at one point, the coin went bonkers and the record-high $31 price point was achieved but the market soon realized that it was overvalued compared to the gains made on the ground and it recorrected it back to $2.

December 2012 saw a healthy increase to $13 but soon enough, the price was going to explode. Within four months till April 2013, the price had increased to a whopping $266. It corrected itself later on back to $100 but this astronomical increase in price rose it stardom for the very first time and people started debating about an actual real-world scenario with Bitcoin.

It was around that time that I got acquainted with the new currency. I had my doubts but as I read more about it, the more it became clear that the currency was the future as it had no one to manipulate it or impose itself on it. Everything had to be done with complete consensus and that was what made it so strong and free.

So 2013 was the breakthrough year for the currency. Big companies began to publicly favor the acceptance of bitcoin and blockchain became a popular subject for Computer Science programs. Many people then thought that bitcoin had served its purpose and now it would settle down.

But, the currency became even more popular, with bitcoin ATMs being set up around the world and other competitors started flexing their muscles on different angles of the market. Ethereum developed the first programmable blockchain and Litecoin and Ripple started themselves as cheaper and faster alternatives to bitcoin.

The magical figure of $1000 was first breached in January 2017 and since then it has increased four times already till September. It is truly a remarkable achievement for a coin that was only worth 8 cents just seven years back.

Bitcoin even survived a hard fork on August 1, 2017, and has risen nearly 70% since then while even the fork bitcoin cash has managed to post some success. All of it is due to the appeal of the coin and stellar blockchain technology behind it.

While coventional economists argue that it is a bubble and the whole crypto world would collapse, it is just not so. There is no such bubble since it is an observable fact that it has, in fact, eaten away the shares of the fiat currencies and money transaction corporations.

The future is extremely bright for bitcoin and it is never too late to invest in it, both for short-term and long-term.

By now, you’ve probably heard about Bitcoin – there are stories of people making thousands of dollars overnight with this and other Crypto-currencies.

Like any new speculative investment, there is an element of risk. This is why getting started with a free $10 of Bitcoin is a good way to try it out, and start learning how it all works. I’m still new to all this myself and stumbled across this process during my research. It helped me, so I thought I should share it with you.

The first things to know about buying Bitcoin are that there are several main ways to purchase it, and it’s not that complicated to do so.

The main two ways to purchase Bitcoin are through a broker, or through an exchange. Check out the Coinbase exchange – they’re one of the biggest exchanges, have a clean and easy to understand interface, are accessible by apps on various mobile and computer platforms, and offer you US$10 of free Bitcoin to get started. There are other exchanges that I have tried, and that work well – BTCMarkets, and Coinspot, to name a couple which are both good – but only Coinbase has the $10 startup bonus.

Additional benefits of Coinbase are that it operates locally in multiple currencies – if you are in Australia, for example, all of your data will display in Australian Dollars, so you don’t need to keep on your toes with exchange rates and the like.

Also worth mentioning is that Bitcoin is not the only cryptocurrency that Coinbase deals with – you can also buy Etherium (ETH), Bitcoin Cash (BCH), or LiteCoin (LTC) – whatever currency you decide to use, you can still get $10 of free Bitcoin.

Without delaying any further, here it is – how you get your free $10 of Bitcoin:

1) Sign up to Coinbase (the link at the bottom of this article will make you eligible for the $10 bonus)

2) Complete the account setup process, including verifying your email address, phone number, and uploading proof of your ID (driver’s license, passport, or other photo ID – this can be done by taking a photo with your phone)

3) Enter your credit card details, and verify the card by viewing the transactions Coinbase will add to your internet banking statement (this is instant, and you don’t get charged)

4) Make an order for US$100 worth of Bitcoin, Etherium – whatever – on your now-activated account. If your local currency isn’t USD, you will have to ensure you order the equivalent amount to US$100

*** IMPORTANT TO NOTE: All Bitcoin purchases incur a fee, and Coinbase is no different. At most, the fee for your initial $100 purchase should be about $4 ***

5) That’s it! After a couple of days, the US$10 worth of Bitcoin will appear in your Coinbase account – even when you subtract the purchase fee, you still end up ahead.

So, if you’re curious about Bitcoin, want to dip your toe in without the risk, and want to get some free money(!) during the process, give this a try. The bonus Bitcoin will more than cover your fees for that first deposit, and can help you learn what it’s all about.

Sound good?

Some final notes:

• This process will only work if you are a new customer of Coinbase. If you already have an account, you will not get the free credit

• You can only get the free $10 if you sign up using the link below.

• The above offer is time-limited – after creating your account using the link, you have 180 days in which to make the purchase of US$100 worth of Bitcoin, Litecoin, or Etherium, and still get the $10 credit.

I hope you have a prosperous and fortunate future with Bitcoin, and take advantage of the free $10. Free money doesn’t come around every day, and with the rates at which Bitcoin has grown recently, $10 could multiply quite quickly! My plan is to just sit on the $110 dollars for a while, see what happens, and get a feel for Bitcoin’s ups and downs. Let’s see how we go.

Had you spent $27 on Bitcoin when it was created by Satoshi Nakamoto in 2009 your investment would now be worth over $37,000,000.

Widely regarded as the greatest investment vehicle of all time, Bitcoin has seen a meteoric rise during 2017 going from $777 all the way to $17,000.

Creating millionaires out of opportunistic investors and leaving financial institutions open-mouthed, Bitcoin has answered its critics at every milestone this year and some believe this is just the beginning.

The launch of Bitcoin futures on December 10th, which for the first time will allow investors to enter the Bitcoin market through a major regulated US exchange, implies that we are just getting started.

What makes Bitcoin so valuable is that there is a finite amount in existence. There will only ever be a maximum of 21 million Bitcoins and unlike normal fiat currencies you can’t just print more of them whenever you feel like. This is because Bitcoin runs on a proof of work protocol: in order to create it, you have to mine it using computer processing power to solve complex algorithms on the Bitcoin blockchain. Once this is achieved, you are rewarded with Bitcoin as payment for the “work” you have done. Unfortunately the reward you get for mining has decreased drastically almost every year since Bitcoin’s inception, which means that for most people the only viable way to get Bitcoin is buying it on an exchange. At the current price levels is that a risk worth taking?

Many believe Bitcoin is simply a bubble. I spoke to cryptocurrency expert and long term investor Duke Randal who thinks the asset is overvalued, “I would compare this to many supply and demand bubbles over history such as Dutch Tulip Mania and the dot com bubble of the late 90s. Prices are purely speculation based, and when you look at Bitcoin’s functionality as an actual currency it is almost embarrassing.” For those who don’t know, the dot com bubble was a period between 1997-2001 where many internet companies were founded and given outrageously optimistic valuations based purely on speculation that later plummeted 80-90% as the bubble began to collapse in the early 2000s. Some companies such as eBay and Amazon, recovered and now sit far above those valuations but for others it was the end of the line.

Bitcoin was originally created in order to take power away from our financial systems and put people in control of their own money, cutting out the middle man and enabling peer to peer transactions. However, it is now one of the slowest cryptocurrencies on the market, its transaction speed is four times slower than the fifth biggest cryptocurrency and its nearest competitor for payment solutions Litecoin. Untraceable privacy coin Monero makes transactions even quicker, boasting an average block time of just two minutes, a fifth of the time Bitcoin can do it in, and that’s without anonymity. The world’s second biggest cryptocurrency, Ethereum, already has a higher transaction volume than Bitcoin despite being valued at only $676 dollars per Ether compared to Bitcoin’s $16,726 per Bitcoin.

So why is Bitcoin’s value so high? I asked Duke Randal the same question. “It all goes back to the same supply and demand economics, relatively there is not very much Bitcoin available and its recent surge in price has attracted a lot of media attention, this combined with the launch of Bitcoin futures which many see as the first sign Bitcoin is being accepted by the mass market, has resulted in a lot of people jumping on the bandwagon for financial gain. Like any asset, when there is a higher demand to buy than to sell, the price goes up. This is bad because these new investors are entering the market without understanding blockchain and the underlying principles of these currencies meaning they are likely to get burnt”.

Another reason is that Bitcoin is extremely volatile, it has been known to swing up or down thousands of dollars in less than a minute which if you are not used to nor expecting it, causes less experienced investors to panic sell, resulting in a loss. This is yet another reason Bitcoin will struggle to be adopted as a form of payment. The Bitcoin price can move substantially between the time vendors accept Bitcoin from customers and sell it on to exchanges for their local currency. This erratic movement can wipe out their entire profitability. Will this instability go away any time soon? Not likely: Bitcoin is a relatively new asset class and although awareness is increasing, only a very small percentage of the world’s population hold Bitcoin. Until it becomes more widely distributed and its liquidity improves significantly, the volatility will continue.

So if Bitcoin is pretty useless as an actual currency, what are its applications? Many believe Bitcoin has moved on from being a viable form of payment to becoming a store of value. Bitcoin is like “digital gold” and will simply be used as a benchmark for other cryptocurrencies and blockchain projects to be measured against and traded for. Recently there have been stories of people in high inflation countries such as Zimbabwe buying Bitcoin in order to hold on to what wealth they have rather than see its value decline under the recklessness of its central banking system.

Is it too late to get involved in Bitcoin? If you believe in what these cryptocurrencies will do for the world then it is never too late to get involved, but with the cost of Bitcoin being so high is it a boat for some which has already sailed. You might be better off having a look at Litecoin, up 6908% for the year or Ethereum which is up an incredible 7521% for the year. These newer, faster currencies hope to achieve what Bitcoin first set out to do back in its inception in 2009 and replace government run fiat currencies.

Who knows what the price of these currencies will be ten, fifteen or even twenty years from now? One thing is certain though, we better strap ourselves in as it is going to be a wild ride.

It is reported that the Bitcoin is rolling into forbidden grounds as it creates a spate of controversy among the “high” society and savvy digital investors. These digital marketers try to gain their share of the billion-dollar-a-day digital pie while corporate society seeks to curtail the spiral hike in the value of what seems to be a “monetary menace”. Some who strive on exploiting the poor and vulnerable are not having this as they try to inoculate the masses in an attempt to put down this growing “digital monster.”

These seemingly corporate crooks continue to put a choke-hold on how the less fortunate spend their money as they try to build financial cartels worldwide but thanks to digital technology, Bitcoins have revolutionized money control in the 21st!

The Cons

Despite the growth of digital currencies such as Bitcoins, it would be remiss of me to not disclose the cons of these virtual currencies. Due to the fact that their digital footprints are encrypted, they cannot be traced online. Although one has the pleasure of privacy and security when trading, it provides another gateway to hide and conduct illicit transactions.

When this happens, drug dealers, terrorist and other suspected culprits, will continue to conduct their illicit trade without detection when using Bitcoins.

The Pros

However, amidst the monetary mayhem, Bitcoins offer anyone tremendous investment opportunities and growth potential. No one controls virtual currency as it can be accessed by the public in cyberspace and the value continues to appreciate while the society stumbles on the debris of inflation.

An ordinary man on the streets can buy, save, trade, invest and increase his chances of becoming financially successful without the interference of government restrictions, controls, and fiduciary regulations, hence spiral inflations become things of the past.

Many truly believe the number 1 problem in our society is establishing financial monopolies. When one corporation decides to control foreign exchange, gold, and fuel, it uses its power to dictate how money should be spent.

Regulations set by large and wealthy multi-corporations are only geared to add more wealth and power to their portfolio rather than benefiting borrowers who seek financial help. In addition, the ones at the top try to drain the swamp so others can depend on them while they can become more wealthy but they can’t control digital currency!

The Brighter Side Of The Coin

Time has come to open the eyes of the world and that is what Bitcoin is all about. The ones who try to control the world is threatened by this Frankenstein but I doubt they can stop it or call the shots. Currently, 1 Bitcoin values $844099.07 Jamaican Dollar or $6895.80 US Dollar. The cost for 1 Bitcoin in 2009 was .05 USD!

Cryptocurrencies are all the rage right now.

Everywhere, you see headlines with impressive thousand percent gains for "coins" like bitcoin. But what gives them value? When have you ever used bitcoin?

The truth is that it's not practical right now, primarily due to the amount of time it takes to complete a transaction. But there are other coins out there that are emerging as viable candidates to succeed bitcoin as the No. 1 cryptocurrency.

There's a lot to understand about the intricacies of cryptocurrency, but this article is more about finding an investment opportunity than explaining the science behind them.

A Bubble in Bitcoin?

One thing that's important to know is the concept of "mining." This is the very basis of cryptocurrency. That's how new bitcoins are made.

In simple terms, the "miner," through special software, solves a complex math problem and is rewarded with new bitcoins as a result. Then, the transaction is stored in the blockchain, and those new bitcoins are specifically in circulation.

As more bitcoins are in circulation, mining them becomes more complicated and time-consuming, and less profitable. So even though about 80% of possible bitcoins are in circulation right now, the last one will not be mined until 2140.

As most people know by now, bitcoin has seen a gigantic rally this year. In fact, it's up about 1,200% over the past year, causing a lot of people to think it's in a bubble.

The total value of bitcoins in circulation is now over $ 150 billion. If bitcoin was a company, it would be in the top 50 largest in the United States.

I personally believe that the only reason bitcoin is so much more valuable than any other cryptocurrency is because it was the one that first broke through to the mainstream. That's still important, though. It, at the very least, gives other coin developers something to improve on.

The good thing is that even if you think you've missed the boat with bitcoin, there are plenty of other cryptocurrency out there. Of course, some are scams, but others have real potential.

One of the ones that I believe has real, practical use is called Dash.

Dash: Digital Cash

First, Dash is ahead of the game in terms of convenience. Right now, bitcoin transactions take about 10 minutes to an hour on average. Dash is setting out to be the primary cryptocurrency that can be transferred instantly (in less than one second) between parties, making it much more practical when it comes to buying things online or at a store.

One of the most appealing features of Dash is that 10% of the newly mined coins are given to the DAO (decentralized autonomous organization). Simply put, the DAO is the treasury of Dash. At the current price of more than $ 600 per coin, that's $ 4 million per month that it can use.

It's important to know that no other coin has this kind of continuous funding. With this money, the Dash DAO can develop and market the currency.

Also, anyone can submit an idea for a project to enhance the value of Dash. Then, the project is voted on by thousands of Dash developers. An example would be partnering with stores to make Dash a viable means of transaction for their goods.

Of course, these developers make money from Dash, so anything that benefits and promotes the currency will be enticing.

This creates a circular effect, where the currency appreciates in price because it's better funded and marketed, then the DAO makes more money, and it's able to market Dash even more.

A Breakthrough for Dash

So far, Dash can be used at over 300 physical stores and over 100 websites to purchase goods or services. But the breakthrough for it could come from the marijuana industry.

Right now, banks are not allowed to have anything to do with marijuana transactions; everything has to be done in cash. Vendors can not even put money from their sales in a bank.

Not only does this bring the risk of being robbed, but these companies have to pay for cash storage and transportation. That adds up quickly.

Being able to use Dash would be huge for these vendors. It would also mean great things for the price of Dash.

The good news is that it has already started making progress. In April, Dash partnered with a digital payment system called Alt Thirty Six, which has partnerships with some of the leading dispensary business management software companies in the country.

These software companies track transactions for hundreds of dispensaries and delivery services. That means that Dash users already have hundreds of ways to use the currency.

Since Dash officially made a payment method on Alt Thirty Six on October 11, its price has gone up 118%. That's only in a month and a half.

Just the Beginning

With a market cap of only $ 4.8 billion compared to bitcoin's $ 156 billion, I believe Dash still has plenty of room to climb going forward.

The marijuana industry is just the start for Dash, but it's a great one. In 2016, legal sales were about $ 7 billion. Another estimated $ 46 billion was sold on the black market.

And as more stores open and marijuana become legal in more states, that legal number is expected to be $ 23 billion by 2021 and $ 50 billion by 2026.

Again, this is just the beginning for Dash. Its unique immediate transaction feature makes it a viable alternative to cash, giving it an edge over other cryptocurrency like bitcoin.

Bitcoin has been the buzz word in the financial space. As of a matter of fact, Bitcoin has exploded the scene in the last few years and many people and many large companies are now jumping on the Bitcoin or cryptocurrency bandwagon wanting a piece of the action.

People are total new to the cryptocurrency space are constantly asking this question; "What is Bitcoin really?"

Well, for starters bitcoin is actually a digital currency that falls outside the control of any federal government, it's used worldwide, and can be used to purchase things like your food, your profits, real estate, cars, and other things.

Why is Bitcoin so important?

Bitcoin is not susceptible to things like governmental control and fluctuations in the in foreign treaties. Bitcoin is backed by the full faith of (you) the individual and it's strictly peer-to-peer.

This means anyone complete transactions with Bitcoin, the first thing they realize is that it's a lot cheaper to use than trying to send money from bank to bank or using any other services out there that requires sending and receiving money internationally.

For example, if I wanted to send money to let's say China or Japan I would have to have a incur of fee from a bank and it would take hours or even days for that fee that money to get there.

If I use Bitcoin, I can do it easily from my wallet or my cell phone or a computer instantaneously without any of those fees. If I wanted to send for example gold and silver it would require many guards it would take a lot of time and a lot of money to move bullion from point to point. Bitcoin can do it again with a touch of a finger.

Why do people want to use Bitcoin?

The main reason is because Bitcoin is the answer to these destabilized governments and situations where money is no longer as valuable it used to be. The money that we have now; the paper fiat currency that's in our wallets is worthless and a year from now it'll be worth even less.

We've even seen major companies showing interest in the blockchain technology. A few weeks ago, a survey went out to a competent of Amazon customers whether or not they would be interested in using a cryptocurrency if Amazon creates one. The results from that showed that many were very interested. Starbucks even hinted about the use of a blockchain mobile app. Walmart has even applied for a patent on a "smart package" that will utilize the blockchain technology to track and authenticate packages.

Through our lifetime we've seen many changes take place from the way we shop, the way we watch movies, the way we listened to music, read books, buy cars, look for homes, now how we spend money and banking. Cryptocurrency is here to stay. If you have not already, it's time for anyone to fully study cryptocurrency and learn how to take full advantage of this trend that's going to continue to thrive through time.