Cryptocurrency is the hottest topic because everyone is asking themselves “Why didn’t I buy Bitcoin when it was cheap?!”
Last I checked, Bitcoin was at 1,000 USD at the start of the year but skyrocketed to 12,000 USD and then climbed above 13,000 USD in less than 24 hours after the initial high price.
No technicality, only layman explanation.
Bitcoin isn’t like our conventional Ringgit or Pound, it’s more of a payment network, just like Visa or PayPal. Like Visa and PayPal, they have an establishment that absorbs money like the property agent earning from commission.
The unconventional payment, Bitcoin, however, doesn’t have a company or an establishment. It’s based on a peer-to-peer network, like the same team of online gamers play together, but in large scale. Investors trade under the same network, to which the network will simultaneously update every database in the network itself.
Now that you have Bitcoins, you might ask, “How do I actually spend my Bitcoin on the latest Gucci bag or Chanel purse?”
They have a new digital payment method, just like Apple Wallet. Top up your Bitcoin within the Wallet and prayfully the shop you go to has Wave.
Maybe some time in the future, ATM machines could have Wave, so you just withdraw with your phone.
You’ve seen and heard about the potential of Bitcoin in making you become a millionaire overnight, but for those who don’t have any Bitcoin, you will continue to read more and more about multibitcoinnaire on the news.
Because the Bitcoin platform doesn’t support credit card payment from Malaysia. That’s sad news.
But if you want to try your luck, try coinbase.com / blockchain.info / xapo.com / bitcoin.com
Who knows? You could be lucky.