Why Is Bitcoin So Popular?
The recent rise in the value of Bitcoin against other hard currencies is a called for concern as well as a huge opportunity to take advantage of.
It is understandable that in a digital world, there should be a digital tool of exchange. Bitcoin has come to be that tool among other digital currencies.
Before I say anything else, I want to point this out to the skeptics of Bitcoins.
YOU CAN ONLY STOP BITCOIN IF YOU CAN STOP THE DIGITAL WORLD.
The world has been swept over by the digital technology. In some years from now, not having a space in the digital world would be walking like a zombie in this present one. You will be insignificant and completely invisible.
Why does Bitcoin make the world go round?
The answer is simple. It is a Currency! It is not only a currency but one used in the digital world. I bet you can connect the dots.
So if you will be a zombie in some years to come if you are not fit for the digital space, so will you find it very difficult to transact with people if you don’t understand the digital currency.
Bitcoin was brought to public attention in 2009 by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. Bitcoin transaction is done from peer to peer without an intermediary. These transactions are verified in the blockchain which is a public distributed ledger. Bitcoin is the first decentralized digital currency. In other words, there is no central bank that controls and dictates how you spent your money.
Quite interesting isn’t it! Bankers will hate me for this!
Now, let’s have some stats of how this currency has evolved over the past years.
Month
|
1 BTC
|
USD
|
XAF CFA
|
June 2009
|
1 BTC
|
0.03
|
16
|
June 2010
|
1 BTC
|
0.07
|
38
|
June 2011
|
1 BTC
|
15
|
8,332
|
June 2012
|
1 BTC
|
7
|
3,888
|
June 2013
|
1 BTC
|
100
|
55,547
|
June 2014
|
1 BTC
|
600
|
333,282
|
June 2015
|
1 BTC
|
220
|
122, 203
|
June 2016
|
1 BTC
|
800
|
444, 376
|
June 2017
|
1 BTC
|
2,420.7
|
1,344,240
|
June 2018
|
1 BTC
|
?
|
?
|
June 2019
|
1 BTC
|
?
|
?
|
June 2020
|
1 BTC
|
?
|
?
|
June 2021
|
1 BTC
|
?
|
?
|
June 2022
|
1 BTC
|
?
|
?
|
June 2023
|
1 BTC
|
?
|
?
|
June 2024
|
1 BTC
|
?
|
?
|
June 2025
|
1 BTC
|
?
|
?
|
June 2030
|
1 BTC
|
?
|
?
|
June 2040
|
1 BTC
|
?
|
?
|
June 2050
|
1 BTC
|
?
|
?
|
If you had bought 1 BTC with less than with less than 20 FRS CFA in 2009, you will be 1,890,547 FRS CFA rich!
Now, you and I are not there. Those are past missed opportunities. No need crying over spilled milk.
It’s time to look in the future so that you can be well positioned to grab the opportunity when the time comes.
The time of positioning is now!
A lot of factors point to a promising future with Bitcoin.
Like any currency, it will be characterized by constant fluctuations. However, Bitcoin is somehow different from other currencies because of the following:
- 1- There are only 21 million Bitcoins. This means that Bitcoin is limited. Unlike flat currencies like XAF CFA that can be printed and instilled in the economy, Bitcoins are limited in number. When markets are hit and are turbulent as they have been recently, investors lose faith in financial systems and as well as in hard currencies. The Bitcoin market is becoming mature and stable. That provides a huge opportunity to investors. The recent surge in the value of Bitcoin is justified by the interest that Hedge Funds are having in Bitcoin. So we may never see Bitcoin dive below $ 1,000 that is CFA 550,000 FRS.
- The demands for Bitcoin is increasing. A lot of business around the world are accepting payments in Bitcoins. Such include big players like Microsoft, Amazon. Badoo, Apple App Store, WordPress.com, Dell, Whole Food…
- There are about 1518 ATMs in the world that accepts Bitcoin Credit Cards. Nigeria is the only country in Africa that has taken a leap of faith by installing a Bitcoin ATM in Lagos.
- Another reason why Bitcoin is not dying so soon is the flexibility it offers to the user. With no central bank to dictate and control your hard earned money, Bitcoin offers the ideal solution. The mining fee is ridiculously cheap.
I am sure at this moment, you are asking the following question:
So How On Earth can I have/buy Bitcoin in Cameroon or Elsewhere in Africa?
Do you want me to investigate any online program?
Do you want to buy Bitcoins and you don't know how to go about it?
Are you just a curious reader?
Follow my blog;
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