After being declared dead One Hundred and Eighteen Times, Bitcoin has gone on to become the The top performing currency in the world for 2016, more than doubling in value from $420 in January to $860 at the time this article was written. The price is being driven up by Chinese markets, who are buying Bitcoins at an alarming rate, and also by uncertainty about the US stock market.
Bitcoin, of course, is the first of it’s kind Cryptographic Digital Currency that uses unbreakable math to store and transfer wealth. There is a host of information on how Bitcoin works under the hood available on Bitcoin.org. There are Wallets, Miners, Nodes, and a Blockchain… but all you need to know is that it lets you send money to anyone using an app on your cell phone or computer, with no bank or private company needed.
Long from it’s seedy dark web origins of online drug deals, Bitcoin is now viewed primarily as an investment that cannot be seized by banks or governments during uncertain times like the infamous Cypress Bail In. Investors also have been turning to Bitcoin because, unlike the US dollar Bitcoin is a deflationary currency. Also it is the only currency in existence that can be transferred almost instantly between anyone with no middle man and very low overhead, which makes it perfect for a global market that doesn’t want to wait days for expensive bank wire transfers to clear. The Bitcoin community promises that it will do for money what the internet did for communication.
Maybe Bitcoin is a fad or a Ponzi scheme like it’s detractors have said, but maybe we are at the beginning of a new kind of money that will change everything.
Needless to say, Shreveport Fix It LLC accepts Bitcoin as payment for all services offered. And you can always check the current price of Bitcoin in US dollars right here on ShreveportFixIt.com
TO THE MOOOOON!