Tuesday, 4 July 2017

What is driving interest in bitcoin?

            With a rapidly increasing distrust in what is usually called ‘the establishment’, the idea that modern banking formats are no longer viable and might become obsolete before long is one that is becoming more and more prevalent in the current financial market of potential investors.

The classic investment option is to always put your money into something with intrinsic value; houses have always been a good option, but of course real estate markets aren’t crash proof. No market is crash proof, but there are very few assets that never stop being valuable. And, by ‘valuable’ it must be understood that it’s a word utilized to refer to an asset that will always be something exchangeable for money or other equally valuable assets.

Gold is the champion when it comes to that realm, but now the young & fast new gun in town is giving it a run for its money. Yes, bitcoin, the most notorious cryptocurrency of the moment is actually posing a challenge to the prospect of investment in gold, as people seeking alternatives to banking systems are turning to alternatives, and the most well established answers are starting to pale in comparison to Bitcoin to a few potential investors that have been either caught up in the hype cryptocurrency has undergone in recent times.

Some countries have had their economy incorporate bitcoin very directly. India as a prime example, as the best bitcoin rate has encouraged a rushed movement towards bitcoin, and also spurred a competitive markets between bitcoin exchanges, all seeking to establish themselves as the best bitcoin exchange in India for people seeking to buy bitcoin in India.

Many people are entertaining the thought that the worldwide financial system might be about to seize up soon.

The status of gold as a good investment is backed up by the history it has as a reliable store of value throughout thousands of years. And, in a way, gold finds itself complimented by bitcoin, and the other way around, bitcoin is complimented by gold quite well. They both cover the weaknesses the other can’t possibly ensure itself for.

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Is Bitcoin a New Gold?