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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