The total value of all bitcoins today exceeds $64 billion. This amount is more than the market capitalization of the Russian energy giant Gazprom. Against the background of the rapid growth of the bitcoin rate (and an equally rapid fall), disputes do not stop: bitcoin is the currency of the future or a soap bubble that is about to burst. FINANCE.TUT.BY, together with experts, figured out the future of virtual currency and found out what is fraught with investing in bitcoin.
Bitcoins are virtual money, they can be transferred from wallet to wallet. The system does not have a center, each bitcoin wallet stores copies of the database of all transactions. Each new "block" with data is "attached" to the previous one using complex algorithms. The system is securely encrypted for changes, but anyone can view its contents.
At the heart of bitcoin and other cryptocurrencies is the blockchain - a distributed database that contains information about all transactions carried out by system participants.
Tulips, oil and social mediaA year ago, one bitcoin was selling for $600. For 12 months, the cryptocurrency exchange rate has grown 6 and a half times - today one bitcoin costs 3950 dollars. At the beginning of September, the rate even broke through the ceiling of $5,000, but then collapsed by almost $2,000. However, for Bitcoin, such a rapid rise (and such a rapid fall) is not unique. In June 2011, the cryptocurrency jumped by 720% in a month, in April 2013 - by 375%, and in November of the same year it rose by 467%. And as experience shows, each of these rises was accompanied by an almost equally rapid decline.
However, now the situation has changed: five years ago, only a few keen enthusiasts knew about bitcoin. Today everyone is talking about it, including at a high state level. A huge number of people took up amateur mining - the hype even led to a shortage of video cards.