Long Live the Bitcoin!

| Updated
by Sofiko Abeslamidze · 4 min read
Long Live the Bitcoin!
Photo: Francis Storr / Flickr

At the end of 2017, there come several hottest trends in the cryptocurrency world that are existing to track down.

First, Bitcoin is about to hit all possible highs in the market cap, surges its price at least four times from the start of the year. It has indeed deserved to appear as the jewel of blockchain community. Yet three years ago, no one could even imagine that Bitcoin technology will be successfully applied to settle international transactions and so far questioned the effectiveness of convectional banking system by avoiding intermediary expenses and lessening possibilities of human mistakes.

However, nowadays the worldwide-known business giant eager to collaborate with blockchain-devoted startups and to flow huge sums of money into digital projects. It seems like the society finally acknowledge the existence of Bitcoin and is likely to explore its capacity. The bunch of wannabe investors has recently flooded the crypto trading market with the overwhelming desire to take the piece of cryptocurrency pie.

Almost on every day basis, ambitious ICOs collect over millions of dollars selling their digital tokens. Casual folks take risk by burdening themselves with mortgages to raise cash for Bitcoin investment. Given the mentioned, the value of Bitcoin rockets dramatically.

Some economists and financial analytics sound the alarm over Bitcoin soaring price and urges investors to approach cautiously, referring to possible economic bubble that does not respond to any governmental regulation. In the meantime, South Korea, where Bitcoin became mainstream, considers taxes and anti-laundering restrictions to grapple with crypto boom. Nevertheless, Bitcoin is still on the mania curve and is not likely to slow down.

The blockchain technology is a promising innovation designed to bring smart framework solutions into the business routine. Bitcoin users exercise it not only as the means of payment but also as the medium of exchange and appreciate the speed and security of its performance. The innovative mobile application launches the service of free Bitcoin-exchange into 25 fiat currencies just in two clicks. In a matter of fact, some of the advanced forward-looking companies start to implement Bitcoin into the remuneration system. Its employees are granted with Bitcoin bonuses and benefits for accomplished tasks.

In addition, Bitcoin also are gaining popularity in gambling. Online casinos widely use it as a method of payment and there are a number of online bitcoin casinos for Canadians. The best bitcoin gambling site will depend on what the player is looking for.

Players should ensure that whatever site they choose is licensed and regulated. All of the favorite casino games can be played with bitcoin and players should check the different sites for bonuses that are being offered. Virtual and live games can be played with bitcoin. Some sites offer free chips/credit to test out the site.

In the light of its beneficial approach to financial system, Bitcoin has encouraged development of altcoins. According to the data from CoinMarketCap, the crypto-digital space is now crowding with three major underdogs, excluding Bitcoin,  which are hardly to be left out of the process. The market players drew the closest attention to the Ethereum (ETH), Ripple (XRP) and Litecoin (LTC). All of them have shown the significant results climbing at all-time new trading volumes. There are few eye-catching features of mentioned altcoins.

  1. Ethereum (ETH), also known as Ether, is the second profitable cryptocurrency, based on blockchain technology. It competitively resembles Bitcoin by providing platform for running decentralized apps as well. Despite the fact that Ethereum is cheaper than Bitcoin, during 2017, it has managed to give four times more returns than Bitcoin gave during the same period.
  2. Litecoin (LTC) has also greatly contributed to the crypto market upcoming year. This altcoin has made a significant rally during last one week with its price climbing up by more than 200% and its overall market valuation surging past $15 billion. Litecoin takes advantage on Bitcoin in the field of scalability-connected issues due to its stability related to Bitcoin fluctuations.
  3. The last but not the least, Ripple (XRP). Currently, according to CoinMarketCap, Ripple is trading to its new all-time high of $0.86 with its market cap climbing above $30. This makes Ripple now the third largest cryptocurrency by market cap, after Bitcoin and Ethereum. The Ripple’s developers have designed it to replace the regular SWIFT applying by banks to streamline international transactions and financial reports in secure way.

To summarize, have you ever assumed how deeply cryptocurrencies have rooted into our live? Currently the blockchain technology covers not only limited financial duties of digital space but also firmly interfere into food industry, travels, gambling, clothing vendors and many more. It continuously expands from now on and numerous market winnings only testified on its behalf. Whether to scrutinize this ongoing trend or enjoy the endless list of opportunities unveil by blockchain, is up to you.

Bitcoin News, Blockchain News, Cryptocurrency News, News
Related Articles