Bitcoin boom

Since it is currently popular, I want to announce that I will launch my own cryptocurrency next week.

We call it "gold coins."

No, that is too selfish.

How about "muttcoin"? I have always had a soft spot for mixed varieties.

Yes, it's perfect – everyone loves dogs.

This will be the biggest thing since it was restless.

Congratulations! Everyone who reads this book will receive a muttcoin when my new coin is released next week.

I will allocate an average of 1 million variant coins. Feel free to spend them wherever you like [or where anyone will accept them!].

What is Target’s cashier saying that they won’t accept our Mutcoin?

Tell the skeptics that muttcoin has scarcity value – there will be only one million muttcoins. Most importantly, it got the full trust and trust of my desktop computer with 8 GB of RAM.

In addition, remind them that ten years ago, Bitcoin could not even buy a pack of chewing gum. Now, a bitcoin can be purchased for life.

And, like bitcoin, you can safely store muttcoin offline, away from hackers and thieves.

It is basically an exact copy of the Bitcoin property. Muttcoin's decentralized ledger has cryptography that cannot be cracked, and all transactions are immutable.

Still not convinced that our variant currency will be worth billions of dollars in the future?

Ok, this is understandable. The truth is that starting a new cryptocurrency is much more difficult, if not impossible, than it seems.

That's why I think bitcoin has reached these heights in all kinds of situations. And because of its unique user network, it will continue to do so.

Of course, there are setbacks. But each of these setbacks eventually led to higher prices. The recent 60% plunge will not be different.

The miracle of bitcoin

The success of Bitcoin lies in its ability to build a global network of users who are either willing to trade immediately or later. Future prices will depend on the growth rate of the network.

Even in the face of severe price fluctuations, the adoption of Bitcoin continues to grow exponentially. There are now 23 million wallets open worldwide, chasing 21 million bitcoins. After a few years, the number of wallets may increase to include the 5 billion people connected to the Internet on Earth.

Sometimes, the motivation for new cryptocurrencies to convert is speculative; sometimes they seek a value reserve that is far from their own currency. Last year, new apps like Coinbase made it easier to join new users.

If you don't notice, when people buy Bitcoin, they talk about it. Each of us has a friend who bought Bitcoin and would not shut up. Yes, I feel inside – and I definitely have a lot of readers.

Perhaps in the case of subconsciousness, the holder becomes a cryptocurrency expert, because persuading others to purchase is in their own interest, that is, increasing the value of the shares held.

Spreading the Gospel – Spreading Good Words – Bitcoin miraculously caused prices to rise from $0.001 to the nearest $10,000.

Who would have thought that its pseudonym creator was fed up with the oligarchy of the global banking industry and launched an intangible digital resource that could compete with the world's largest currency in less than a decade?

No religion, political movement or technology has witnessed these growth rates. Again, humans have never been as closely connected as they are now.

Money idea

Bitcoin was originally an idea. To be clear, all the money – whether it's the empty shell money used by the original islanders, the gold bars or the dollar – is an idea. The idea is that the user network will value it equally and be willing to provide something of equal value to your money form.

Money has no intrinsic value. Its value is purely external – only others think it is valuable.

Look at the dollar in your pocket – just a fancy paper with a one-eyed pyramid, a portrait of a point and a signature of an important person.

In order to function, society must treat it as an accounting unit, and merchants must be willing to accept it as a payment for goods and services.

Bitcoin has shown incredible power to connect and connect to millions of users' networks.

A bitcoin is only worth the price that the second person is willing to pay for it. However, if the network continues to expand at an exponential rate, then a limited supply will allow the price to move in only one direction…and even higher.

Bottom line

The nine-year rise in bitcoin has marked a huge volatility. In January 2015, 85% was revised, and other revisions exceeded 60%, including a sharp drawdown of 93% in 2011.

However, with each of these corrections, the network [measured in terms of the number of wallets] continues to expand rapidly. When some speculators see their value decline, new investors with margins see value and become buyers.

The unusual level of volatility is actually helping the Bitcoin network grow to 23 million users.

Hey, maybe we just need to use Muttcoin's price fluctuations to attract new users…