What is the actual value of Bitcoin? The real truth revealed
A small background on Bitcoin
Trust me you want to read this! Why, you ask. Well, for the starters it will clear your head of the misconception that Bitcoin is more than just any other internet terms that you are hearing about too much on business news and internet memes. It is so much bigger than that.
Bitcoin was invented in 2009 by Craig Wright who hid his identity as Satoshi Nakamoto for several years. It’s been almost a decade and cryptocurrency is slowly taking over the world (quite literally actually). Bitcoin uses a technology called blockchain which helps in the mining of cryptos online. These are then distributed among the investors and traders. People sitting in front of computers solve some puzzles and perform other tasks which helps in the mining of these coins. You can also be a miner. As they say, the more the merrier.
Coming back to what we were talking about, it is currently the top crypto in the planet. Websites which are globally renowned like Microsoft, Dell and Amazon acknowledge it and accept it as a legitimate form of payment. Now that you know about it let us help you understand how it works in collaboration with your money. And by with your money I simply mean the fiat currency.
About the value of Cryptocurrencies
Currently the majority of population on this planet who has evolved from barter system utilizes fiat currency as a mode of exchange. Crypto to crypto exchange in India is a bit new to them. Therefore, in order to buy Bitcoin or any other crypto (if you do not have cryptos already) one needs to make the first purchase with fiat money. There is an exception when one wants to buy Ripple coin though. It can only be bought with BTC or Ethereum. That is another thing as a whole.
So a lot of times, people begin to compare the value of digital currencies with their money. But that should not be the case in the very first place. One must always keep in mind to understand the fact that BTC was started with the agenda to eliminate the differences between all the different currencies on this globe. They want to introduce one single value for everyone. In this manner it will be easy for everyone to make economic transactions.
Bitcoin is completely online and has no physical form of its own. There is no coin or note to denote it. In addition to that, since it is decentralized; there is no government or private authority that controls. Craig Wright might have been the creator but he does not own it in any technical terms. No one does. We are all equivalent. You are also kept anonymous so that nobody finds out about your identity and you can make all the transactions you want without any kind of hassle.
To answer the very first question; the denotations are not stable at all. It keeps fluctuating with time. All cryptos including this one are very volatile in nature. The ups and downs are constant. You will always find that there is some of the other change that keeps taking place. To witness the live value tracker visit the Blockage website. Here not only can you trade and exchange all cryptos for free but also get a live view of all cryptos and their values. You also get 500 free doge coins right after signing up. It is worth a shot!
Let us come back to the topic, so the actual value has always been increasing on a constant level and seen uprising as well. We do not really find any kind of devaluation since the past couple of years. That speaks for it. But in case you really want to know about its value then go and check out the website I mentioned earlier.
Happy trading and investing folks!!