Cut | , | November 29, 2017

It’s the buzzword on the internet’s constantly evolving tongue. ‘Bitcoins’ are undeniably taking over and this week, news regarding their incredible hike in value has dominated the online dialogue. Whilst it may seem often difficult to get your head around the economically hefty jargon that explains the importance of the mysterious Bitcoin, here’s a little comparison made to other huge players that’ll give you a pretty decent idea of how huge and important they are (and will probably continue to be).

 

Bitcoin’s value just reached $9,721 USD per unit – this means, the cryptocurrency’s market cap has just passed that of Disney, IBM and, McDonald’s. Absolutely massive.

 

 

Experts have said the price of the Bitcoin will continue to increase if it ‘continues to act more as a collectable than a currency’. A single coin is currently worth more than seven ounces of gold – what does this mean for the future of physical currency? For those who aren’t aware of the history of the Bitcoin, it acts as a ‘decentralised digital currency’, in which individuals can ‘secure payments without having to utilize banks or personal details’. Their game-changing feature lives in that they function completely online and are unable to be traced, totally appealing in a culture where most transactions online.

 

With it’s rising value in the market, could the Bitcoin become completely mainstream? The untrackable nature of the Bitcoin lends itself to facilitate tax evasion and crime, a growing problem government’s are becoming increasingly wary of, however, with its growing prominence, it may look like authorities may just have to crack down on, and create laws that ensure the safety and fairness of their use.

 

Even Burger King launched their own cryptocurrency in the form of the WhopperCoin back in August and you may have even copped some of your latest fits with the cryptocurrency. There’s no ignoring it’s prominence and 2018 could very well be the year of cryptocurrency takeover.

 



 

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