Bitcoin's work has always been a mystery to most people, but there's one thing we can associate and soon we understand and that's the fact that Bitcoin is a little crazy now.
You just need to open a web browser to be bombarded with news and comments about Bitcoin lately, and for good reason - Bitcoin's current value is a very volatile symbol.
We will not tell you how much Bitcoin is worth doing now because, frankly, as we publish in this post, it will be wrong. Bitcoin values are rising at an alarming rate, with about $ 3,000 added in the last 24 hours alone. After the launch of cryptocurrency, it takes several years to be worth just $ 1, now we see a value of over $ 17,000 in this writing, with thousands of dollars added in the relatively flashing eyes. It's not sustainable, and as the charts united by Marketwatch show, the way Bitcoin has been out of control for the last 12 months alone has to worry about anybody's investments right now.
While it is true that the increase in the value of Bitcoin is likely due to those who want to make money by investing today, that alone should be a concern. Bitcoin is a currency, not a commodity, and a currency is only valuable if it can be used to buy goods. Bitcoin is really only used for purchases in places where anonymity is valued now, with more legitimate retail outlets such as Steam Valve stores that deny support for cryptography thanks to volatility and high transaction costs. If the online place stops receiving Bitcoin for payment, is it worth doing at all?
That is a question for another time, maybe, but what we know now is that in the end something must be given. Bitcoin is always a bit turbulent, but not so far and not with that huge amount of cash tied up in it.
(BTC/USD graph via: MarketWatch)