The whole world is still dominated by the virus, but Bitcoin doesn’t seem to care. The price of Bitcoin keeps rising and it currently climbed back to 18000 Dollar. It doesn’t seem to fall down in the next weeks and more and more companies start to acknowledge Cryptocurrencies. For example, AirBNB plans to introduce cryptocurrencies as a method of payment for its services. Or at least, they think about it.
Even prominent people talk about Bitcoin right now. Maisie Williams, playing Arya in Game of Thrones, asked her followers on Twitter if she should invest in Bitcoin or not. A lot of people voted and even Elon Musk answered “Toss a Bitcoin to your Witcher”. It’s a phrase from the Witcher series on Netflix. Altough a slim majority voted for No, she shouldn’t invest, she still did, as she later told on Twitter.
Governments think about E-Currencies
Some big countries like Germany already think about E-Currencies. They don’t want to use Bitcoin or other cryptocurrencies, but they think about inventing their own cryptocurrency. That could be bad for the current cryptocurrencies, but it’s also a chance. If even governments think about using the technology behind Bitcoin, it shows that cryptocurrencies have a future. We don’t know yet how this future will look and which cryptocurrencies will still exist then, but one thing is pretty certain. At one day in the future, the whole world will use cryptos.
Earnings from Faucets are calculated in Dollar
By the way, if you recently thought, that Faucets pay you less than a month ago, you are right and wrong at once. It’s true that Faucets pay less Bitcoin and other Cryptos right now, because the value of them keeps rising. The value for each claim in Dollar though stays the same. That means, you get less Bitcoin, but if you would exchange them to Dollar, your earnings would still be the same. Keep that in mind, because if the worth of Bitcoin goes up, the amount of Satoshis you earn from Faucets goes down.
Not everything is going great
If there’s light, there also has to be shadow. Not everything is going great for Bitcoin. In china, a lot of mining companies aren’t able to pay their bills for power anymore, because the chinese government is fighting hard to prevent trading Bitcoin to money. That could mean that soon a new country will emerge as the number 1 miner for Bitcoin. Right now, China leads with over 65 %, the second place is occupied by the USA with 7 %.
This could be a good chance for some countries. If they support Bitcoin or at least don’t prevent trading, a lot of mining companys could change their country. Of course, there are some other factors involved like cost of power and the cost of their workers, that influence the decision of the mining companies.
Mistake converting Ethereum
A user of Ethereum made a costly mistake. He wanted to convert 140 Dollar in Ethereum to Chi Gastoken with the Ethereum Wallet MetaMask. He filled out the form manually and accidentally inserted over 23 Ethereum as transaction cost. That means, he paid over 10000 Dollar to the miners to confirm his transaction. This is not the first mistake that happened with MetaMask. Be wary, if you use it and check your numbers always twice before you confirm the transaction. Else, you could be the next poor guy who loses a lot of money.
We hope, that Bitcoin keeps rising
The really catastrophic year 2020 is coming to an end and we really hope, that Bitcoin keeps rising. A lot of experts think, it will rise to 20000 Dollars, before the year ends, but there are also a lot of experts who thinks, it will go down. We hope, it keeps going up, but nobody knows for sure. That’s why you should collect a lot of information before you invest, else you could lose a lot of money.
It’s a risky investment, because cryptocurrencies are still pretty volatile, but you should at least claim from Faucets (because it’s free!). If Bitcoin keeps rising, the value of your Coins will also rise.
Stay healthy and we wish you a lot of fun with Faucets and high earnings 🙂