For those who 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 who have been keeping up with conversion rates for digital currency it’s apparent that the very volatility that has defined pseudo-currency is what’s keeping investors considering this area. Recent changes in the benefit of such currency plus the bankruptcy of one of the leading platforms in the world exchanging Bitcoins has called into question the future of the digital money. However, experts reassure those who wish 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
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. Experts have been concerned that Bitcoins and other digital currency might be used for activity which is illegal as they’re a lot easier to exchange and “launder” than other methods of cash. Bitcoin use was implicated in an illegal drug internet site, for instance, and there may be also different examples of unlawful use which have not yet been reported.
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The value of these currencies has been the topic 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 contributed to speculation that the pseudo currency field is dying and soon will go the way of the dodo.
Nonetheless, is it too early to declare Bitcoin and Litecoin a failure? Experts differ on the subject, but some claim that there’s a spot 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 most well known 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.
However, even the disappearance of six % of the total Bitcoins in the earth doesn’t appear to have slowed the giant currency down much. Bitcoin continues to battle certain companies along the lines of Apple because of the notion that the currency may not be legal, but a growing number of apps as well as programs accept Bitcoin with no issue.
Some experts see the bankruptcy of Mt. Gox as a step ahead for Bitcoin. The underlying software is many and unchanged vendors are eager to reach the business of purchasing and selling using the digital currency. Additionally, these vendors claim that Mt. Gox was the problem and that most of the illegal activities related to Bitcoin stemmed from this organization, not from authentic customers and vendors.
Look at The Values of yours
Regardless of what happens in the future with Bitcoin, other forms and Litecoin of electronic currency, one element will not change: the need to get an instant answer to the question, “How much is my money worth?”
In order to find out this important fact, customers will have to have a chance to access a dependable platform that updates the value of Bitcoins, other forms and Litecoins of Crypto Currency in real time.