Bitcoin Revolution

By | March 11, 2020

The revolution that is taking place in the financial system is that of the latest phenomenon called the Bitcoin. For those who do not know about it, the Bitcoin is basically a virtual currency that is controlled and governed on the Internet. Because of this fact, the price of Bitcoins is very volatile at times. However, because of the fixed value of the money supply, the value of the currency increases and decreases, just like other commodities on the market. As a result, the value of the Bitcoins goes up and down depending on how much demand there is for it.

When the value of the currency rises and the demand is high, the supply goes down and because of this, there are potential income opportunities. On the other hand, when the value falls and the demand is low, the supply goes up and therefore, supply and demand effects the price of the currency. In this manner, the people who can afford to buy them will always have a very high demand and there will be more sellers on the market than buyers. As a result, the value of the currency will drop to a certain extent.

However, some people in the world actually see this as a way to revolutionize the current system. Some see the currency as a chance to create a new kind of currency where the value does not go up and down but stays constant over a period of time. Others see it as a way to give people a chance to earn an income from their computer. Although Bitcoin is used by many, it is still unclear how they are going to take advantage of it because of the uncertain system of the system.