Crypto currency as the future dollar (School Blog)

This I believe that Bitcoin crypto currency should be the new dollar…

Bitcoin is the most popular non traditional currency in the world today from north america all the way to china. The whole idea behind bitcoin is that it takes power away from all of the big banks and governments that centralize all or (most) traditional currency. When that happens there is lower prices for transferring money overseas and can be transferred within minutes with no borders, taxes and virtually no fees depending on the amount sent. This does make the central banks mad at the fact that they can not control the cash in any way but it makes people feel better because it puts the power in their own hands.

I personally have made a small amount of money as a side “hobby” with bitcoin trading through stock sites for the crypto currency. Just like traditional currency the price goes up and down. Bitcoins prices fluctuate because the supply and demand of the digital currency at that point in time. The digital currency’s value has skyrocketed in the past 3 years. Just like me I had doubts when I was wanting to invest in bitcoin back a few years and immediately regret that decision that I didn’t back in time. The price of one bitcoin back in 2010 was at a very low eight cents per coin. Today… each coin is worth upwards of $4000 and fluctuates recently reaching $5000. If I was to invest only a mere 50$ I would roughly have 2.7 million US dollars worth of bitcoin if I was to cash out today. That is about a 5794900% increase in price over the span of 7 years. In conclusion, I believe bitcoin can and will be the new electronic currency of the future and will have a big impact on the worlds currency. I believe the crypo currencies will eventually be the next would currency because people are looking for a new and alternative way to pay for goods as well as have a more secure way of storing her hard earned cash. once all crypo currencies are encrypted and extremely hard to hack and steal, some people are transferring savings into bitcoin or some sort of crypto currency.