TechTheDay

Time’s changed. Humanity is seeing a shift from the traditional systems and people are fighting off these systems with what they have: technology. The people who were smart enough to bet and risk it all to win usually ends up as big winners. This is especially true for those who have been investing in Bitcoin. Just a few years ago, when Satoshi Nakamoto launched Bitcoin in 2009, it was barely worth a dollar. Yesterday, Bitcoin has now soared to $14,000 each making it one of the biggest milestones in its history. Today it has passed the $14,500 mark and experts on the matter think that it will only grow even bigger.

Now you might be wondering if it’s safe or not. Well, business is a risk and those who make the right bet usually wins. This is especially true for those who had invested in Bitcoin in the beginning. But in truth, no one really knows when will it continue to soar. True Bitcoin is pretty popular and many people seem to use it, but why is that exactly?

Kill The Middle Men

One of the most favorite things technology do is create convenience for its users. So much so that civilization has completely changed. The way people live is drastically different from 15 or 10 years ago. Especially when it comes to the direct producer-consumer relationship that Bitcoin offers.

Its that power to cut off the middlemen from business transactions that makes Bitcoin popular. Bitcoin right now is a peer-to-peer transaction, you can use it to buy products or pay for services anonymously. It doesn’t go through a bank. It’s pure, there’s no taxes or any regulations on it at the moment. This makes it popular with criminal organizations and cyber terrorists. It’s untrackable, and as long as you can keep your bitcoins safe, either in an online storage or an offline storage, there’s no way you’ll be able to lose them. It’s no wonder why there’s a lot of people willing to pay for the digital currency.

And this year, it is getting bigger. The government of Japan, for example, has given it an A-ok and has “started licensing bitcoin exchanges earlier this year,” according to a CNN report. The report also stated that US companies are also helping Bitcoin be given more acceptance in public and that only China has been the one in pursuit of persecuting the digital currency.

So What Can Go Wrong?

Lots of things, with China as the leading example. Just this year China went and shut down BTC China and Via BTC, the two biggest Chinese bitcoin exchanges by announcing that they’re issuing a ban on initial coin offerings or ICOs. These are digital tokens used by companies as if they’re shares and can be exchanged for bitcoin.

In UK, they’re also considering possible regulations. The UK Treasury has announced this in a report and a crackdown against it is already underway. This is because Bitcoin has been increasingly linked to criminal activity.

In a CNN interview with JPMorgan’s CEO Jamie Dimon earlier this year, he thinks that bitcoin is a “fraud.” “It won’t end well,” he said. “They will eventually blow up. It’s a fraud.”

So Should You Invest In Bitcoin?

It is pretty risky. But the rise of Bitcoin can’t be denied and a lot of people are regretting not investing in Bitcoin earlier when it’s worth less than a dollar. Some argue that it will eventually peak and it can only go down from there.

But it’s way too early to tell. Bitcoin is still rising and if you buy one now you might still be able to get a bigger payout later. Business, after all, is a huge gambling game and everyone is taking a risk. It’s up to you on whether the risk is worth taking or not.