Bitcoin is a type of virtual Money that has no characteristics of resources we have in real life. We can make online payments from one person to another or even from one country to another without any extra fee.
You can experience a significant amount of advantage in investing in it. And also no government or bank of any country can question it because there is no ruling body on the top of the organization. So this system bitcoin is more like online payment or ways you earn online.
As useful as Money!!
Money is the most essential part of everyone’s life. We work daily; we compromise our sleep, diet everything to earn the highest amount of money every day.
And bitcoin is same as Money it has all the characteristics of Money as:-
- It is as durable as real Money- durability is the strength to go through pressure, damage etc.
- It is as portable as real Money- real Money or virtual Money can be transferred by online payment methods such as Paytm, Google pay etc. Same is the case with bitcoin payments. You can transfer Money from bitcoin from one person to another even if they are far away in another country.
- It is as fungible as really Money- real Money can change with assets as bitcoin also can change with another bitcoin.
- Limited in an amount as Money- Human wants can never be fulfilled, and the need to have Money for a human is unlimited. Even if one is earning satisfaction amounts, they still need more. Therefore there is a shortage of resources and Money everywhere, and so with bitcoin, there are only 21 million bitcoins people who want to buy are more.
- It is divisible as real Money- if real Money is invested correctly, it can be divisible and can turn into a much higher amount. And the same is with bitcoin as it’s rates are not stable so you can buy bitcoin for a small amount and later when the prices are high you can sell it at a higher amount.
- Recognizability- as people recognize Money they also accept bitcoin many developed countries also have it an option as a payment method officially.
It has no physical properties as gold or other resources and also it is backup mathematics, .and also bitcoin has some differences from real cash.
How are the rates of bitcoin decided?
The rates of bitcoin are not at all stable. You can get a bitcoin for 10 rupees and sell it in lakhs so it can be an exceptionally remarkable opportunity to become rich and to Earn Money.
But decided the rates of bitcoin?
The rates of bitcoin are decided according to the call of people. If people around the world want more bitcoin than the amount of each bitcoin increases and if people around the globe want less bitcoin than the amount of each bitcoin decreases, so the rates of bitcoin is directly proportional to demand and inversely proportional to supply.
The number of bitcoin inflow are pretty finite that means the number of people want it is more, and bitcoin itself is less. And also the number of Bitcoin manufactured is less and can’t cover the necessary amount.
Though a lot of people around the world want to invest their Money in bitcoin and use it carefully to earn more still bitcoin is not a very big share market as it should have been this may be due to the shortage of bitcoin in the market. It is not a very big market as it was expected to be because some people use it as a method of exchange for other countries rather than taking advantage of its advantages.
This is also because some countries have banned it as it is considered an easy way to earn Money also there are chances of loss, so some people do not invest in it due to the fear of losing Money.
Many people are trying to analyze the future of Bitcoin which you can know through website like androidheadlines.com. Also, there are many controversies, some saying bitcoin to be accepted as a legal medium of exchange in future while others are putting a question mark at the limited total number of bitcoins that can be mined!