2013 shocked us as Bitcoin, a crypto currency created by pseudonymous Satoshi Nakamoto shaken the currency world as it was successfully bloom in this year. Establishments, services, merchandise even charity donations accept and offer Bitcoin as means of payment. This year is truly a great year with this currency as its price reached an all time-high $1,000 this November recorded in Mt. Gox and other exchange rate services. Aside from that, there are countries in different continent who decided to embrace Bitcoin as part of their aim to have an innovative way of payment where in no central authorities or even bank manipulated the circulation of this money.Photo Credit: DGC Magazine
Some of the countries who released that they are now officially accepting Bitcoin are China, India, Poland, Indonesia, Russia and Taiwan soon to be on 2014. China plays a huge role in the sudden skyrocket in Bitcoin’s exchange rate. As China started to recognize this as their new ways of payment, exchange rate exploded as it reached $700 the first ever all-time high recorded but days or weeks after, it burst from $700 to $1000 the new all-time high recorded in the history. Unfortunately, People’s Bank of China released recently a notice where in they banned financial institution to transact using Bitcoin payment system. This sudden issue with China has badly affected the current rate which rapidly plummeted below $1000. Many of them think that this will be the doomed of it but unfortunately, bitcoin still surprises enthusiasts and even negative people who have of no interest.
Despite of the negativity happened in this crypto-currency, many are still believe that this would be the newly way of payment that no one can control, no third party involved, anonymity exists, easy to transact, and might be the best solution to avoid money laundering. There are lot of businessmen, company, merchandise, and even services who are open-minded about the idea to adapt the trending virtual currency of all times.
Year of the snake certainly captured the Bitcoin idea. The next question for now is, is Bitcoin into year of the Green Wood Horse side? No one knows. Since this must be the intrinsic value of it. Nobody can say up to when will it last and up to where it will grow.