Cryptocurrency: Is Bitcoin is future currency?
As a newer investment, cryptocurrency has gotten a lot of buzz. It has received celebrity endorsements, helped a select few get rich quickly, and made headlines for various scams and fraud in the industry.
From Bitcoin and Ethereum to an ever-growing list of altcoins, cryptocurrencies have taken a new generation of investors around the world by storm.
Fast-moving and volatile, this industry keeps participants, observers, and regulators on their toes.
As mainstream companies explore cryptocurrencies and blockchain technologies for new markets or even to build them within virtual worlds the crypto space is in a rapid state of evolution.
Bitcoin's popularity is growing, but not everyone is convinced it's a good investment. Several publicly traded companies hold over 9 figures in the cryptocurrency on their balance sheet, while Warren Buffett has repeatedly questioned its value. So should you consider investing in bitcoin? Let’s look at 6 of its most popular criticisms (which we'll call “bear” arguments) and their counterarguments (appearing below as the “bull” arguments).
When we discuss blockchain technology, we often talk about a collection ofcluding cryptography, distributed systems design, economics, game theory, disciplines, in and many others.
Blockchain technology, in practice, is not a singular thing, as it intersects with all manner of industries and technologies. This is what makes it a compelling technological movement.
What exactly is cryptocurrency?
Before we get into whether to invest in crypto, let's review what crypto actually is.
cryptocurrency "is a digital currency, such as Bitcoin, that is used as an alternative payment method or speculative investment," meaning an
investor hopes to profit from a change in value when they go to sell.
Are there risks or drawbacks to crypto?
While past tales of people making bank on crypto may seem tempting, it is important to heavily weigh the downsides of this investment as well:
It is extremely volatile.
It is susceptible to hacks and scams.
It lacks government regulation.
It has a major environmental impact.
So although Bitcoins are very popular in cryptocurrency, chances of getting it adopted by the world are very less because of high volatile in nature and lack of government regulations.
