As the world’s front runner at the Crypto currency market, Bitcoin has made serious headlines, and some serious fluctuations in the past 6 months. Almost everyone has heard of them, and almost everyone has an opinion. Some cannot understand the idea that any currency can be made from nothing, while some like the idea that something without government control can be traded as its own valuable entity.
Where did you sit on “Should I buy Bitcoin?” The fence may eventually lead to one question: Can I make money from Bitcoin?
Can you make money from Bitcoin?
In just the last 6 months, we have seen prices start at $ 20 coins in February, up to $ 260 coins in April, returned to $ 60 in March, and returned up to $ 130 in May. Prices are now settled around $ 100 Bitcoin, but what happens next is an allegation of anyone.
Bitcoin’s future ultimately rests on two large variables: adoption as a currency by a broad audience, and the absence of government intervention that prohibits.
The Bitcoin community is growing rapidly, interest in Crypto has spread dramatically online, and new services receive Bitcoin payments increasingly. Giant blogging, WordPress, accepts Bitcoin payments, and African-based cellular application providers, Kipochi, has developed a Bitcoin wallet which will allow Bitcoin payments to developing cellphones in developing countries.
We have seen people produce millions in currencies. We see increasing number of people experimenting with life only on Bitcoin for months, while recording the experience of watching documentaries.
You can buy takeaway in Boston, coffee in London, and even a few cars in Craigslist using Bitcoin. The search for Bitcoin has skyrocketed in 2013, with april increase and the next fall in Bitcoin prices. Last week the first big acquisition of a Bitcoin company was made for Satoshidice, online gambling site, for 126,315 BTC (around $ 11.47 million), by an undisclosed buyer.
This rapid growth and absorption growth is set to continue, if the trust in the currency remains strong. Which leads to the second dependence. Government regulations.
Although specifically designed to work independently of government control, Bitcoin will definitely be influenced by the government in a certain way. This must be a case for two reasons.
First, to achieve a high level of adoption, Bitcoin must be accessible to a large number of people, and that means spreading beyond the world of hidden transactions to everyday normal transactions for individuals and businesses. Secondly, this Bitcoin transaction can be a part that can be traced from the wealth of taxable people, which will be announced and regulated along with other types of wealth.
The European Union has stated that Bitcoin is not grouped as Fiat currency, or as money, and thus, will not be properly arranged. In the US, 50 state systems and the number of bureaucratic bodies involved have made a more difficult decision, without consensus reaching this far. Bitcoin is not considered in the form of such money, but is considered acting like money.
The growing Bitcoin market in the US has a more uncertain future for now, and every conclusive legislation in the US can have a very positive, or very negative effect on the future of Bitcoin.