Bitcoin is evolving against all odds

Since it is currently in vogue, I would like to announce next week that I am selling my cryptocurrency.

Let’s call it kingcoin.

Nah, this is very self-serving.

What is “Muttcoin”? I’ve always had a soft spot for mixed sex.

Yes, it’s perfect – everyone loves dogs.

This will be the biggest thing since fidget spinners.

Congratulations! Anyone who reads this will receive a muttcoin when the new coin goes on sale next week.

I will distribute 1 million muttokin equally. Don’t be afraid to spend where you want (or where everyone will accept them).

What is this? The target cashier said they would not accept our muttcoin?

Tell skeptics that mutcoin has a scarcity value – there will only be 1 million muttcoins in existence. On top of that, my desktop computer is fully trusted and credited with 8 GB of RAM.

Also, remind yourself that ten years ago a bitcoin could not buy you a packet of chewing gum. Now a bitcoin can receive a lifetime supply.

Like Bitcoin, you can keep muttcoin safe from hackers and thieves.

It is basically an exact copy of the features of bitcoin. Muttcoin has a centralized ledger with unbreakable cryptography, and all transactions remain unchanged.

Are you still not sure that our muttcoins will be worth billions in the future?

Well, that’s understandable. The fact is that introducing a new cryptocurrency is more difficult than it seems, if not explicitly possible.

Therefore, I believe that bitcoin has reached these heights in all likelihood. It will continue to do so thanks to its unique user network.

Of course, there are setbacks. However, each of these failures eventually resulted in a rise in prices. The last 60% immersion will make no difference.

The miracle of Bitcoin

The success of Bitcoin is its ability to create a global network of users who are now ready to trade with it or save it for later. Future prices will be determined by the growth rate of the network.

Even in the face of wild price changes, bitcoin adoption continues to grow at a large rate. There are now 23 million wallets in the world, tracking 21 million bitcoins. In a few years, the number of wallets will increase and connect about 5 million people around the world to the Internet.

Sometimes the motivation of new crypto converters was speculative; at other times they were looking for a storehouse of value far from their domestic currencies. Over the past year, new applications such as Coinbase have made it even easier for new users to board.

If you haven’t noticed, people talk about it when they buy bitcoin. We all have friends who want to keep quiet after buying bitcoin. Yes, I’m guilty of it myself – and I’m sure there are very few readers.

Perhaps subconsciously, owners become crypto-evangelists because it serves their own interests to persuade others to buy, to increase the value of their possessions.

The good news about Bitcoin is that it has miraculously raised the price from $ 0.001 to the last $ 10,000.

Who would have imagined that the creator would get tired of the global banking oligopoly and launch an intangible digital resource that competes with the value of the world’s largest currencies in less than a decade?

No religion, political movement or technology has witnessed this growth. Yet humanity has never been so connected.

The idea of ​​money

Bitcoin started as an idea. Frankly, all the money – whether it was shell money used by the inhabitants of the primitive island, whether it was a gold bar, or the US dollar – began as an idea. The idea that a user network would value it equally and want to part with something of equal value to your currency.

Money has no intrinsic value; the value is completely foreign – just what others think they need.

Take a look at the dollar in your pocket – it’s just a one-eyed pyramid, a small portrait and a delicate piece of paper with the signatures of important people.

To be useful, society must see it as a unit of account, and merchants must be willing to accept it as payment for goods and services.

Bitcoin has demonstrated an extraordinary ability to reach and connect to a network of millions of users.

One bitcoin is just the value that the next person is willing to pay for it. But if the network continues to expand too fast, the limited supply claims that prices can move in only one direction … higher.

Bottom line

Bitcoin’s nine-year rise was marked by huge fluctuations. Several adjustments were made above 60%, including 85% in January 2015 and a large 93% decrease in 2011.

However, in each of these adjustments, the network (measured by the number of wallets) continued to expand rapidly. When some speculators saw their value decline, new investors in the margin saw value and became buyers.

Abnormal fluctuations actually helped the bitcoin network grow to 23 million users.

Hey, maybe we need a little price volatility in muttcoin to attract new users …