Cryptocurrencies has gained tremendous popularity since its inception. The cryptocurrency market which was just a question and a term almost ten years ago, is now debating the most honest question: Is it the future? We have gone through the ups and downs of the market; we rejoiced when the price of Bitcoin went way above.
Bitcoin was introduced as a peer-to-peer electronic cash system, but with time it evolved to become so much more than that. It is all set to replace the fiat currency by providing a better, secure and more reliable alternative. During the epic upsurge that bitcoin saw in its time, the price went as up as $20,000 at the end of 2017; it was an alternative for the MasterCard and Visas at the time. However, the volatile market has once again proven that within a span of a few years, bitcoin will cross all charts and replace the paper currency with its security and reliability features. Bitcoin emerged as the savior when the economy was crumbling, and the world was losing its faith in the banking system. In the end, we really need to ask ourselves, is bitcoin the future of money?
What Do the Experts Say?
The value chart of bitcoin has always been rocky, but the experts believe that the road is what is leading us to the future and the current economic situation cannot deny the fact. There seems to be a strong inclination towards Bitcoin in the coming decade and here’s why.
Tim Draper, an expert and a venture capital investor, makes an astonishing case of explaining exactly why this will happen sooner than expected. Draper believes in bitcoins more than he trusts his bank savings. Bitcoin has presented to us a system where we don’t have to worry about being hacked or robbed out of our wallets, cash or cards.
Draper who is a founding partner at Draper Associates, a venture capital firm, makes a bold claim by further saying,
“We are two years away from everyone using bitcoin.”
Draper also used to make predictions about the price of bitcoin previously and saying that it will reach more high numbers than it has right now. However, the price of bitcoin did not do well after the high it rocked back in 2017 and it has been going down ever since. This is also termed as the “crypto winter” as the shockingly low stakes have been something of a constant recently.
However, this hasn’t stopped experts from estimating the future and the impact of cryptocurrencies, especially bitcoin in the upcoming years. Drapers claim that the lightning-fast network of bitcoin permeates the system by making it much more versatile and faster to use that you would be able to buy things from your phone using bitcoin. On a lighter note, he remarked,
“In five years we’ll try to use fiat money to buy coffee and thee barista will laugh.”
How Bitcoin Will Be the Saviour?
Why exactly are we heading towards a future spearheaded by bitcoin? First, unlike fiat currencies, bitcoins are not controlled by any central power, say a national bank. This means, that you will be able to do business and transfer the cash in the form of bitcoin to anyone around the world. You won’t even have to go through an exclusively long and time-consuming process to do so. Ultimately, it makes the issue of exchanging beyond borders a relatively easy-to-achieve event in the very near future we are heading for.
Moreover, the tight-knit security measures of bitcoin are appreciable. You can easily utilize the blockchain platform to participate in a secure and hack-proof way of transferring and exchanging. The anonymity of Bitcoin allows you to stay incognito and keep your identity private, even when you are playing bitcoin Plinko.
Regardless of the bashing, it sometimes receives from the media and the price fluctuations it undergoes, this creation of Satoshi Nakamoto is the world’s most desired cryptographic money. Try as hard as you might, but one can’t simply ignore its salient features which make it the biggest event to look for in the future.