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Author : Bitcoins Basics 101 PDF Ebook by DAVID DODGE and BRIAN DIXON
With a population well over 1 billion people, the acceptance of Bitcoin in this market is a good sign that it's going to continue increasing in value. 3. Startups - Also, the fact that a lot of startups are being created to fulfill needs in the Bitcoin market is further proof that not only are bitcoins going to be around, a lot of smart people are betting that they're going to increase in value. While tens of millions of dollars have been invested in Bitcoin startups over the last couple years, this number is expected to increase as even more people try to monetize the growing Bitcoin market. 4. New Exchanges - When you look at the number of Bitcoin Exchanges that are starting up around the world, it's yet another sign that Bitcoin is here to say. Some websites count the current total of Bitcoin Marketplaces online to around fifty currently in early 2014, with new ones popping up all the time. This growth shows that many people are betting that Bitcoin is going to be around for years to come. 5. Mining Difficulty - With so much competition and computing power going into Bitcoin mining these days, it's become nearly impossible for a single individual to mine enough bitcoins to break even, let alone make a profit. This, of course, drives the value of bitcoins up even more because it is so difficult to create new bitcoins by solving blocks and adding them to the block chain. 6. Limited Government Involvement - This is likely to change in the coming years, but for now the lack of government regulations have really allowed Bitcoin to flourish and grow in many parts of the world.
This is already changing as governments begin to take Bitcoin seriously. The fact that they're starting to do this also shows that Bitcoin has broken some barrier and become a reality that will be around for years to come, increasing in value all the time. 7. Payment Acceptance - As more and more businesses - some major ones even - begin to accept BTC as payment for goods and service, this is only going to help cement the crytocurrency and increase its value over time. 8.. Media Attention - Whether it's the local newspaper, a national TV network or on the radio, the mainstream media is currently fascinated with everything Bitcoin. They may think of it as "Magic Internet Money," but as more join the Bitcoin community, the coverage is going to change. Someday you might find television shows (and entire networks) dedicated to Bitcoin prices and markets. 9. The Internet - Additionally, beyond the mainstream media, the Internet and the world wide web have made it possible for knowledge about Bitcoin to spread far and wide quickly. This has led to the virtual currency becoming more valuable as well. From bloggers to forums dedicated to Bitcoin popping up, the Internet is abuzz with talk of Bitcoin, which helps bring more people into the network, driving the value of a Bitcoin up even more. Looking at the list above, it's easy to see why there's been such an increase in the value of bitcoins in the last couple years. What's really amazing is that Bitcoin is still at the very early stages of its life as a worldwide currency.
This means there are sure to be a lot of changes - some probably dramatic - in the months and years ahead as Bitcoin matures and gains more acceptance around the world. Supply, Demand, and Bitcoin. As you know, the value of a Bitcoin is subject to change quite frequently - both up and down. It's important to note that there is always a fixed number of bitcoins available on the market. As long as new bitcoins are being added to the network via Bitcoin Mining, this number will change, but at some point, BTC 21 million will be reached and there will be no more new bitcoins produced via mining. However, Bitcoin is a very speculative market. That is, there's no easy way to predict whether prices are going to rise or fall at any one moment. Because they're produced at a steady rate, it's not possible to suddenly start producing more as the value rises, slowing the growth of the value. This doesn't really happen, though, because bitcoins are created at a steady rate - with one block being solved every ten minutes. What currently happens a lot of the time is that as the perceived value of 1 BTC rises, people become more interested in purchasing them, which drives the value up even more. As seen with the tulip market in the past, this can't go on forever unchecked, but Bitcoin is a bit different that tulips in that there is a finite and knowable amount of them that will be in circulation - 21 million to be exact. Even though the traditional model of supply and demand doesn't fit exactly with Bitcoin because it's such a speculative market, some of the lessons do still apply.
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