For those that have not been following the saga of Crypto Currency, Litecoin and Bitcoin, 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 evident that the very volatility that has defined pseudo-currency is what’s keeping investors thinking about this niche. The latest changes in the value of such currency plus the bankruptcy of one of the leading platforms on the planet exchanging Bitcoins has called into question the future of this electronic money. Nevertheless, experts reassure those who would like to use Crypto Currency, Litecoin and Bitcoin that the “fad” that led to digital money may well be 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, services and products. bitcoins or Litecoins can be exchanged for “real” currency at a given rate. Authorities were concerned that Bitcoins along with other digital currency might be used for activity that is illegal as they are far easier to exchange and “launder” than other methods of extra cash. Bitcoin use was implicated in an illegal drug website, for example, and there may be other examples of against the law use that have not yet been reported.
The value of these currencies has also 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 % has led to speculation that the pseudo currency field is dying and soon will go the way of the dodo.
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But, is it too soon to declare Litecoin and Bitcoin a failure? Experts disagree on the subject, but some claim that there’s a spot 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 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.
However, including the disappearance of six percent of the total Bitcoins in the world doesn’t appear to have slowed the giant currency down much. Bitcoin continues to battle certain companies including Apple on account of the notion that the currency may not be legal, but a rising number of apps and programs accept Bitcoin with no issue.
Some experts see the bankruptcy of Mt. Gox as a step ahead for Bitcoin. The main software is unchanged and many 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 genuine customers and vendors.
Check The Values of yours
No matter what happens in the future with Bitcoin, other forms and Litecoin of electronic currency, one thing will not change: the need to get a quick answer to the question, “How much is my money worth?”
In order to find out this vital fact, customers are going to have to have a chance to access a reliable platform that updates the value of Bitcoins, Litecoins along with other forms of Crypto Currency in real time.