There are a lot of names that came out regarding bitcoins. It has been a b=never ending debate to whether it is actually accepted as real solid currency with real value to it. The economist is well befuddled by this idea. Here are some of the names that you might encounter when talking about bitcoins.
• cryptocurrency • digital currency • digital cash • digital gold • virtual currency • electronic currency
According to some economist, there are actually three qualities that make bitcoins useful in a currency and these are:
• They are actually very hard to earn in coin bases • Very limited in supply that is why its value is more like gold, limited and never depreciates • They are also very easy to verify
The Assurance Of Value
When economists defined money, it is definitely connected to the word value, a medium to exchange products and services, and a certain unit of account about us. Bitcoin can actually perform all these three so definitely without any argument it has value. The only question hanging about bit coins is actually its volatility and its profoundly questionable stability.
As An Investment
The People’s Bank of China did not consider the use of bitcoin as a currency, they actually regarded it as an investment option. Nevertheless, bitcoins are never affected with cruel high inflators, so some people actually invests in it to protect their savings, and to sometimes protect their money valued assets from the eyes of the government who might confiscate it because of tax issues.
Buy and Sell bids
There is definitely an opportunity in bitcoins, many has been cashing in with buying and selling it because of its high regarded value. It can definitely be bought and sold online and offline, so there are definitely no boundaries.
Regardless of how economics experts see it or journalists at that, people who see opportunity actually sees it in a different way. There is only one ensured reason why bit coins are still in the market and more than 100,000 merchants accept it, it is because of its unprecedented value economically.