What Is Bitcoin?
There’s money on everyone’s minds but all modern entrepreneurs and businessmen are stuck thinking about bitcoin. Now, what exactly is bitcoin? To most, it sounds like fancy jargon, but understanding what it truly is may just blow your mind. The bitcoin price is nothing but cryptocurrency. In fact, it is one of the many cryptocurrencies invented.
Bitcoin, without doubt, is the most popular and highest valued cryptocurrency as of today, valued at a whopping $9,195.51. What gives cryptocurrencies like Bitcoin their special status is that it is a means of transfer of funds over the internet. It uses special functions called cryptographical functions that are used to transfer funds anonymously. The most fascinating fact about bitcoin price is the fact that it uses the blockchain mechanism to provide users with complete transparency and decentralizes fund transfer completely.
The Future Of Bitcoin: A Ponzi Scheme
Despite the complete transparency, and it’s fully decentralized status, investing in bitcoin may be a lot riskier than it seems. Most cryptocurrencies emerge with great potential and show significant promise which seems very attractive to investors, but most fail to live beyond six to eight months of their invention. There is a very high risk of bitcoin being potentially discarded, causing chaos in the crypto market. Hence the term Ponzi scheme popularly used to describe this billion-dollar invention. The crypto market is fast-paced and grows rampantly and unpredictably, and significant investment gains are only observed in early investors. While investing in bitcoin might seem like a safe and smart option, it might be riskier than it should be.