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Payday Loan Advice service: Bitcoin is over a billion dollars

Saturday, September 21, 2013

Bitcoin is over a billion dollars

This Thursday , BitCoins history marked a new milestone to exceed the value of the billions of dollars of Bitcoins in circulation, ie the actual number of bitcoins issued , 10.97 million by the dollar price that was changed one bitcoin that exceeded the $ 90 mark . Today and Sunday Bitcoin trading at $ 94.75 . The decisions of our "beloved" leaders are the main guarantee of success for BitCoin , alternative electronic currency and central banks are showing right now , more investment antifrágil be a black swan in our monetary system . Antifrágil is an interesting concept coined by Nassim Nicholas Taleb and relates those things which are enhanced by the appearance of a Black Swan .

In the case of Bitcoin , since last November 2012 to today 's price against the dollar has gone from $ 10 to $ 94 ( appreciation of 840 % in 4 months) and since early March has today has gone from $ 30 to $ 94 ( appreciation of 213 % in less than a month) . Giddy ? ?

The truth is that it is difficult to say whether this is a bubble in the price of Bitcoins or not. The revaluation is meteoric and scares , but let's look at the facts coldly.

1 - There are some Bitcoins nearly 11 million currently issued . The maximum number of Bitcoins to be issued will be 21 million. This figure will be achieved beyond 2033 . I attached the expected curve creating Bitcoins

number bitcoins

That is successful if the Bitcoin going to be a pretty lame and how well its currency relative to other currencies 'official' is set according to supply and demand, as you gain popularity Bitcoins demand will to be much higher than the number of Bitcoins that will be created , so the equation can only be adjusted via price .

2 - It seems that its creators had already planned on success that Bitcoin could suffer sharp increases in the price. It is created with 8 decimal currency . For one day a reach Bitcoin worth $ 100,000 can still make small transactions with 0.00001 $ 1 left over we Bitcoins and decimals.

3 - The current use of Bitcoins and its popularity is still in diapers, need to build a robust ecosystem of companies that facilitate their use and still is a minority option . But more and more services or companies are adopting it as a payment option , including WordPress , Mega or Reddit . BitPay a Bitcoin payment processor in March has seen shopping with Bitcoins were made amounting to $ 2 million , ie one months has processed 66% of all transactions processed in 2012.

That is Bitcoin is a two-way upward pressure on prices . On the one hand people fleeing the traditional banking system frightened by Cyprus , on the other how adoption through payment settled. If the current price is not outright bubble or not I have no idea, because everything depends on the success and adoption have, but it gives the feeling that the snowball effect or the traction needed for a successful Bitcoin has already begun .

By the way the market is still relatively narrow Bitcoins . At any time if someone is selling a considerable amount of Bitcoins normal is to sink the price.

By the way the same Thursday that the value of getting Bitcoins exceed one billion dollars, Bitcoin spoke on the news of TVE (just know one coming out in the news )

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