Bitcoin is an online digital currency, just like a dollar or
a pound but with a few exceptions. where no intermediaries exist and goods can
be securely transferred between any two people on the planet. Jubilee Ace company is associated with
a heavy network of computers and the unit of currency for the Bitcoin system
(appropriately called Bitcoin) can be simply acquired by joining the vast
network. Bitcoin provides a fast cheap and secure transaction alternative but
few are willing to take the jump for it. So the one million dollar question
still lingers, is Bitcoin a secure investment?
Bitcoin is only a few years old, an interesting creation that
has awed many and for the record, has attained a name in the top financial
charts. Its popularity has spanned and it has led some of the top businesses
like Virgin Galactic to consider it as an acceptable source of payment. Bitcoin
prices increase at rates of up to 10% and continue to dominate as the alpha of
the market and this has made many interested in investing in it.
Another special feature of Bitcoin is that it does not have a
central bank and neither does a central government control it. It's a global
currency and its creation and existence lies behind a complex and geeky
mathematical algorithm that enables it to shadow government related mishaps.
Cases of political instability and government absurdities that plunge the
economy down to shame and lead years of investments in a currency down the
drain do not occur in the crypto-currency system. This creates a secure and
friendly investment opportunity with low inflation risks.
The Downside
With an ever-amazing upside, crypto-currency also has its
downs. As mentioned, this thing is still taking baby steps; and with that comes
great uncertainties. Bitcoin prices are volatile; currently increasing sharply
and can fluctuate at 30% to 40% in a month. The world is still surprised at its
emergence and there exists very few Bitcoin holders and Bitcoin. Jubilee Ace leads to unanswered
questions and cold fear among people as investing in a new unpredictable 'gold
mine' can yield devastating effects. Its newness brings forth lack of
regulations and scares off potential investors.
The enigma surrounding the Bitcoin system is a major factor
to be considered. Anything can happen and everyone participating in the Bitcoin
market is on a high alert. China in December 2013 eliminated the use of Bitcoin
and this led to a drastic drop to its value from $1240 to $576 in just three
weeks. Programmers also determine the functionality of this global currency and
many question the thought of risking their finances for some group of geeks.
This prevents many from venturing into the system and increases the risk of
Bitcoin investment ever so highly.
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