Bill Gates, Richard Branson, John Macafee are some of the popular figures who support and invest some of his fortune in bitcoin. They are very confident that bitcoin will be worth $ 1,000,000 in the next 5 years. Not many people believe, because the lack of understanding of people related to what it is actually bitcoin.
I try to give some excuses that I quote from some popular personalities and some personal reasons from me.
The Internet Changes Everything
If there are 7 wonders in the world, the internet should be included. The Internet changes a lot of good things Social life, economy, politics, even romance. upss
Imagine a lot of countries got messed up just because of the hoax news on the internet.
Stopping bitcoin just like you stop the internet all over the world. This is why bill gates say that nothing can stop Bitcoin.Smartphone penetration Increases
As the internet grows, mobile penetration is increasing as well. Approximately 120 million Indonesians have become active internet users. Not to mention if we count smartphone users around the world, definitely very much.
Should we recognize that there are many people who have not been touched banking financial services. Browse through old data, approximately 70% of Indonesian people do not use banking services. Of course things like this become a challenge for the world of finance.
Therefore, many say that bitcoin is the answer.Bitcoin Will Be Strongly Supported By Mafia, Corruptor, and Criminals Worldwide
Because bitcoin has good privacy, of course bitcoin will be widely used by mafias or corruptors in the accumulation of wealth, money laundering or illegal transactions.
Surely they will not want to if the bitcoin price goes down, you may know.
Therefore, bitcoin market place sites always verify their users with ID cards and photo proofs to avoid illegal transactions taking place on their sites.
Blockchain Will Change The World Radically
Blockchain is considered a very safe and efficient system. Therefore, Blockchain is believed to be enter all aspects of human life in less than 5 years.
An example is the smart contract technology found in altcoin Ethereum, this technology will change how you run a business, buy a home or car, pay taxes, and so on.
At this time, many altcoin are trying to provide their blockchain services for education, health, and others.
So bitcoin and blockchain are something different. Blockchain is the technology behind bitcoin, while bitcoin is a financial transaction service that uses blockchain technology. Understood? hehe
So its core, blockchain can be made for any purpose.
For example : voting election, birth certificate, citizen identity, driving license, certificate university and many others.Bitcoin Prices Tend to be Influenced Demand and Supply
Simply put, the more who use bitcoin the more expensive it will be. Why did it happen ? True, bitcoin is only created a maximum of 21 millions, this indicates that bitcoin has limits. Not like the money we use. there is inflation or deflation, money continues to be printed and no limitations. In fact, a country should create money in accordance with the value of gold that is stored. Now? all changed. Just print origin.
This is why many investors consider bitcoin as the world economic revolution.
Simply put, in 2014 you work a month paid 1 bitcoin at the price of 6 million rupiah per bitcoin, then half of your salary is saved every month for 12 months, so you have 6 bitcoin. that's an example in Indonesia.
In 2018 you need money to buy a car, you want to dilute your bitcoin which amounts to 6 bitcoin. How much is your money? Just saving a year, YOU CAN BUY A CAR AND A HOUSE.. Hehehe.
SO THIS IS REAL MONEY1 BTC = 1,000,000 Bits
The miners are increasingly difficult to mine. This is the result of the competition of miners around the world. At this time, to create 1 bitcoin you need to spend $ 1000 electricity. Not to mention the initial capital of buying machines, maintenance, and spare parts.
Later bitcoin will be more difficult to be mined and has a very expensive cost in mining, Surely this will affect the bitcoin price.
Later I am sure we will not transactions in the amount of bitcoin. To facilitate the count, will be used scale bits in the transaction, approximately in the year 2019. If you are a wallet blockchain.info users must understand. It's in the blockchain.info settings.
So later the prediction is not how much the price of 1 bitcoin, but how much price in 1 bits. If 1 bits = 1 us dollar, So what is the price of 1 bitcoin? Calculate yourself..
Image Sources:
https://techcrunch.com/
https://bitcoin.com
