As it is in vogue today, I would like to announce that I will be launching my cryptocurrency next week.
Let’s call it “kingcoin”.
No, that’s too self-serving.
How about “muttcoin”? I’ve always had the soft sides of mixed races.
Yes, it’s perfect, everyone loves dogs.
Fidget spinners will be the biggest thing since.
Congratulations! Everyone who reads this will receive a mutcoin when my new coin goes on sale next week.
I will distribute 1 million muttcoin evenly. Feel free to spend it wherever you want (or wherever anyone can accept it!).
What is that? Did the Target ATM say they wouldn’t accept our muttcoin?
Tell those in doubt that muttcoin has a shortage value – there will only be a million mutcoins. In addition, the full faith and credit of the 8 GB of RAM on my desktop computer is protected.
Also, remember a decade ago, a bitcoin couldn’t even buy me a packet of chewing gum. Now a bitcoin can buy a lifetime supply.
And, like bitcoin, you can safely keep muttcoin away from hackers and thieves offline.
It is basically an exact replica of the properties of bitcoin. Muttcoin has a decentralized book, with a crack with impossible cryptography, and all transactions are immutable.
Still not convinced that our mutcoins will be worth billions in the future?
Well, it’s understandable. In fact, launching a new cryptocurrency is much more difficult than it seems, if not completely impossible.
That’s why I think bitcoin has reached those heights against all odds. And because of its unique user network, it will continue to do so.
Of course, there have been setbacks. But each of these setbacks has resulted in higher prices in the end. The last 60% drop will not be any different.
Miracle in Bitcoin
Bitcoin’s success now lies in its ability to create a global network of users who are willing to transact with it or save it later. Future prices will be determined by the rate at which the network grows.
Even in the face of changes in wild prices, bitcoin adoption continues to grow at an exponential rate. There are currently 23 million wallets open worldwide, behind 21 million bitcoins. Within a few years, the number of wallets could increase to include 5,000 billion people on the planet connected to the Internet.
At times, the motivation for new cryptographic converters was speculative; at other times, they sought a storehouse of value far removed from their home currency. Over the past year, new apps like Coinbase have made it even easier to incorporate new users.
If you haven’t noticed, when people buy bitcoin, talk about it. We all bought bitcoin and then that friend wouldn’t shut up. Yeah Al that sounds pretty crap to me, Looks like BT aint for me either.
Perhaps subconsciously, holders become crypto-evangelists because convincing others to buy serves their own interest in increasing the value of their property.
Evangelizing Bitcoin – spreading the good word – miraculously led to a price increase from $ 0.001 to the final price of $ 10,000.
Who could have imagined that his founding nickname, disgusted with the global banking oligopoly, had launched an intangible digital resource that in less than a decade matched the value of the world’s largest currencies?
No religion, political movement or technology has ever witnessed these growth rates. Moreover, humanity has never been so connected.
The idea of money
Bitcoin started as an idea. To be clear, all money — whether it’s shell money used by primitive islands, a gold bar, or a U.S. dollar — began as an idea. It’s that a network of users values you equally and would be willing to share you for something of equal value because of the way you spend your money.
Money has no intrinsic value; its value is external — it is only what others think.
Look at the dollar in your pocket: it’s a one-eyed pyramid, just a splashed portrait, and an elegant piece of paper with the signatures of important people.
To be useful, society must see it as a unit of account, and traders must be willing to accept it as a payment for goods and services.
Bitcoin has shown tremendous ability to reach and connect to a network of millions of users.
Only one Bitcoin is worth what the next person is willing to pay. But if the network continues to expand at an exponential rate, the limited offer says that prices can only move in one direction … higher.
The nine-year rise in Bitcoin has been marked by tremendous volatility. In January 2015 it was an 85% correction, and others over 60%, including a huge 93% drop in 2011.
Through each of these corrections, however, the network (measured by the number of portfolios) continued to expand at a rapid pace. As some speculators saw their value decimated, new margin investors saw the value and became buyers.
Abnormal levels of volatility are what really helped the bitcoin network grow to 23 million users.
Well, maybe we need mutcoin price volatility to attract new users …