A sharp jump in values of bit coin currency

For the first year, virtually no one used the Bitcoin network and it was an experiment and entertainment for cryptography fans. The first bitcoins had virtually zero value. The situation began to change after a year when users began to experiment and try to buy things for him from familiar suppliers. The first purchase for this virtual currency was two pizzas, valued at 10,000 bitcoins. From this began the development of the virtual currency, which began to increase in value faster and faster

For speculators and thieves?

The basic question is why a common bitcoin man and how can he be better than a zloty? Thinks, for nothing and nothing. “Bitcoin has no advantages over traditional currencies,” says the analyst. In his opinion, the virtual currency is too susceptible to manipulation, because no institutions supervise it. Few would agree, for example, to receive a salary in cash, which can lose up to half of its value in a few weeks.

cryptography fans

“Bitcoin is too unpredictable,”. The economist explains that it is a currency unrelated to any real economy, which makes it difficult to determine its value. Therefore, it is susceptible to manipulation. According to the analyst, bitcoin is, therefore, the most attractive to speculators who may want to easily earn on it. According to a person, the second group of people interested in him is criminals and people who want to make transactions outside the banking system controlled by the authorities. This is confirmed by the fact that probably the largest discovered illegal auction site ‘Silk Road’ used bitcoins for trading. 70 percent of the items sold there were drugs. The big problem with using bitcoin is that it’s hard to find places where you can buy something for them. An interactive map operates at the official website of this virtual currency, where information about companies receiving bitcoin is collected. Away from banks and politicians

Supporters of bitcoin price chart  in his defense cite, inter alia, that it is very difficult to steal it. The “wallet” saved on the computer and its contents are protected by advanced ciphers. It cannot be lost or lost to a pickpocket. However, it happened in Great Britain that an IT specialist accidentally threw a disc with a wallet on it “filled” with several thousand bitcoins. At one point they were worth several million pounds, but they were under dumps of landfills.