Bitcoin (BTC) and Ethereum (ETH) values have doubled in the last 4 months. As of July 21, 2017 the current BTC value is $2,663 and the ETH value is $217. CNBC and others have made casual investors aware of these digital cryptocurrencies as an alternative investment offering impressive returns, and are helping to drive up value for fear of missing out.
Since BTC and ETH have to be “mined” by computers, they hold an intrinsic value which tends to go up as more people participate, due to natural market forces. Another way value will continue to be driven up is based on the increasingly more difficult, and time consuming mining algorithm designed to require more resources to “mine” a BTC.
Bill Gates can be quoted in the below CNBC article as saying when asked about Bitcoin’s progress that: “BITCOIN can not be stopped!”.
Steve Forbes asked Brian Singer if BTC is the currency of the future and Singer replied that ”
BTC has the ability to bring more people out of poverty than anything before in history.”
With all the latest summer 2017 buzz around Bitcoin, and people like Forbes and Bill Gates talking about digital currencies being a significant part of out future. Large companies like Visa and JPMorgan, Barclay’s and Visa have taken notice of BTC and Ethereum, and media attention is sure to garner additional eyes and investment.
In the middle of Summer of 2017, the news is not talking about the nosediving of the U.S. Dollars’ systematic devaluation, media are instead talking about Bitcoin as a maverick, anonymous, Silk-Road motivated shady investment, to make you money.
They don’t get it.
What digital currencies actually are starting to represent are “citizens of the Internet”. It’s peer-to-peer and business-to-business. There are numerous large, blockchain based businesses that have communities of people and businesses who do not accept “Fiat Currencies” but only deal with “Real Money”. See excerpt from https://sourcerers.io/ below:
“We are only open to payments in the form of real money. We do not accept USD, EUR, CNY, JPY or any other fiat currencies. Bitcoin, Ether, Litecoin, and Zcash are all accepted with love! Short on funds until your crowdsale? We welcome proposals for settlement via your project’s native ERC20 token. ”
That philosophy is why digital currencies will continue to go up, and the future will see many freshly new minted digital currency millionaires.
