Bitcoin News: bitcoin quotation

Bitcoin Rally: how come nobody uses cryptocurrency?

Despite the great enthusiasm of the Crypto Community there is a big problem with Bitcoin: that of underutilizing gold from cryptocurrencies.

Despite the potential and the megagalactic success of the Bitcoin, according to what the newspaper has revealed Bloomberg, commercial transactions only represent the 1,3% economic activity.

To confirm it would also be the data of Chainalysis: the “persistent problem”Of Bitcoin and the whole crypto sector is the continuum speculative use.

Although many giants allow end consumers to pay in cryptocurrencies, very few opt for a similar transition.

The huge price fluctuation of the cryptocurrency would be a major cause of this problem.

Bitcoin: a speculation asset?

Despite the rally of cryptocurrency gold, Bitcoin remains a speculation asset, whose value is determined by the meeting of supply and demand.

It must be remembered that the Bitcoin offer is perfectly rigid since the amount of Bitcoin "mined" over time is predetermined a priori (we are approaching thebitcoin halving)

The extreme volatility of this currency is certainly the point of attraction, but also the real reason why Bitcoin (see when it costs bitcoin) is used to speculate.

For this reason, the use of Bitcoin as a means of payment for daily purchases is not yet a reality.

Bitcoin needs a real campaign that attracts more and more users to consider it a valid alternative to current currencies.

Ultimately, its creator, Satoshi Nakamoto, he had imagined the use of Bitcoin in everyday transactions, from the purchase of pizza to that of real estate.

In the first four-year period 2019, transactions relating to exchanges still represent the 89,7% and are slightly down on 2018 (91,9%).

Bitcoin: a digital version of gold?

Many experts have validated the thesis that Bitcoin is a real one digital version of gold, an asset that holds value in periods of economic uncertainty. (See the guide how to buy Bitcoins)

To achieve more performing transactional capabilities, solutions such as the Lightning Network are being tested, where the transaction is validated only by the counterparties involved, and not by the entire network.

Solutions like this could allow the conclusion of billions of transactions per second: This would be a decisive step for the versatility and scalability of digital gold.

Therefore, in addition to being a "safe haven" asset, Bitcoin should be more appreciated for the function of means of payment likewise to the Euro, US Dollar, Swiss Franc, etc.

Jacqueline Facconti

Jacqueline Facconti - Editor, Finance, Tax, Economics Section Graduated in Business Economics with 110 and Lode at the University of Pisa, also editor of WebEconomia, Finaria.it, Assicurazioniivita.net, Regime-Forfettario.it, etc.

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Jacqueline Facconti

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