Bitcoin to reach the 1 million mark?

For those who don’t know what Bitcoin is I will be short about it., Bitcoin is a form of electronic currency or at least it’s being used like one for trading on different websites, stores, restaurants, to purchase or pay for services and many other. Websites such as Dell.com and other have started to use this form of payment as an alternative form of payment (currency), it can be used world wide no matter what the local currency is.

Unlike the US Dollar, the Mexican Peso, the Euro and/or other currencies Bitcoin is not regulated by any government, it’s electronic information is stored completely on the internet cloud and it is maintained by users for users. It is a totally SHA256 encrypted technology that is now making international bank wire transfers look like post mail compared to email, you can transfer money from one side of the world to the other in a matter of seconds at $0 cost.

Bitcoin can be traded like any other currency in the stock market through a stock broker or at a currency exchange such as BTC-E (http://www.btc-e.com). Bitcoin stared to trade at a value of $0.01 US Dollars in 2009, however the acceptance of users has been so successful that it is now being used by thousands of people and companies around the world and because of this its value was increased to $1000.00 US Dollars by December of 2013, however because Bitcoin is also affected by the world market and because of its unregulated nature the Bitcoin value is highly volatile and it has gone up and down, the current price of a Bitcoin is around $358 US Dollars by the date of this post (10/31/2014).

Economy experts seem to forecast and agree that Bitcoin will reach the $1,000,000.00 mark within the next 10 to 15 years and it is also my personal believe. Because unlike other currencies that can only be broken in to cents, Bitcoin can be broken in to a million pieces allowing people to transfer parts of a Bitcoin to anyone with a Bitcoin wallet. Meaning that if the acceptance of Bitcoin continues to be successful it will most likely increase on value and we can expect that 0.00000001 Bitcoins will be equal to $1 US Dollar, at this point people that have invested or got their hands on Bitcoins one way or another will be super multimillionaires within the next couple of years.

The key to Bitcoin reaching the million dollar mark is to increase its acceptance on users and to make it easy for users to carry/trade the Bitcoins on a regular basis., because of this, specialized Bitcoin wallets are being made on software and on hardware secured by the highest encryption possible, you can easily create a wallet by signing up at http://blockchain.info or coinbase, service is totally free. At least for now.

So by now you are probably asking how to get a hold of some Bitcoins right! there are basically two ways to get Bitcoins, one is by helping the community maintain the mining network which is to buy specialized mining hardware and put it to mine and discover Bitcoin blocks on the internet and get paid in Bitcoins for your hardware work or to buy Bitcoins at an exchange such as BTC-E or others out there. You’ll have to continuously watch the trading market to be on top of your earnings and cash out when you feel or think is the right time, like i said before all of this can be achive at BTC-E, the reason to recommend them is because it is so easy to work with them .

Hope you like this article and remember to share it with your friends on Facebook or other, thanks!.

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Andree Ochoa

Andree Ochoa is CEO and Founder of Domain Cart (DomainCart.com) a leading domain registrar and internet technology service provider. He has over 15 years of experience in the internet industry. Andree Ochoa says: “When it comes to IT you don’t need chihuahua’s, You need Bulldogs! working in your business!”