Prices Likely to Spike for Common Goods as Geo-Political Tensions Rise

 

Today’s Global Economy The Food Crisis

In today’s global economy, what happens in one part of the world – sometimes in one specific country – can set off a chain reaction likely to have far-reaching effects for consumers everywhere. When Panama Disease hit and peaked in Central America in the 1950s, for example, it wiped out thousands of acres of banana plantations that caused a worldwide shortage of the fruit, even forcing growers to abandon their favored cultivar and go in search of new types. Today, most of the world eats an entirely different kind of banana – the Cavendish – because of this.

Like bananas, global products of all kinds are not immune to the effects of global markets. Recent announcements and economic policies have U.S. markets and consumers poised for a price hike for common steel and aluminum products. From soda cans to new cars, hundreds of industries are likely to see costs go up. Yet these products are far from the only ones being impacted by global geo-political tensions and sharp changes in demand and consumer preferences.

Food

Global food prices are hitting new highs as demand for meat, dairy, and wheat from countries with expanding populations continues to surge. U.N. food agency data shows global food prices are up 7 percent from a year ago and ahead 17 percent from a low set in early 2016. According to analysts, there has been a growing global demand for meat, particularly for beef. So strong is this demand that global meat has outpaced most other major food commodity groups, according to U.N. data.

Common Household Goods

Yes, even toilet paper is not immune to drastic price hikes and consumer panic. Just this week, a spike in the price to produce toilet paper in Taiwan cause panic to a point where lines formed outside of local grocery stores as people snapped up toilet paper and paper towels in bulk. The mess began on February 23rd when, according to The Economist, Taiwanese retailers, including several supermarket chains, said that toilet-paper producers would increase prices by as much as 30 percent in March because the cost of raw pulp had gone up.

Pearls

Political uncertainty in the South China sea has forced the price of pearls upward, much to the dismay of traditional brick-and-mortar and online retailers throughout the U.S. Leon Rbibo, who runs two of the top pearl websites in the U.S., The Pearl Source and Laguna Pearl, says military escalations in this part of the world can drive costs up “literally overnight,” since a large portion of the world’s favorite gemstone is imported from this area. Add to that the implications of Brexit, which is destabilizing world currencies, and you have a recipe for higher costs.

Gas and Other Fuel Types

There was a brief respite from the pump for many U.S. consumers over the last year, but don’t bank on that trend continuing, analysts say. According to AAA and the transportation industry, more than half of the country is likely to see a significant spike in the average cost for a gallon of unleaded gasoline. According to AAA, there are numerous reasons for the hike:This year “has seen fluctuating crude oil prices, strong gasoline demand and new U.S. oil production records creating a volatile gas price market from month to month for consumers,” Jeanette Casselano, AAA spokeswoman, said. “Typically, March brings more expensive pricing as days get longer, weather gets warmer and refinery’s gear up to switchover to pricier summer blends.”

Bourbon (and Other U.S.-Produced Spirits)

New U.S. tariffs have other countries considering raising duties of their own. The European Union could choose to retaliate by going after peanut butter, orange juice, cranberries, and yes, even that world-famous Kentucky bourbon.

The European Union is the first trade partner to offer specific steps and products if the U.S. is to proceed with certain proposed tariffs, including on steel. Canada has also promised countermeasures. And Mexico, China and Brazil are said to be weighing options.

 

 

 

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Six Amazing Financing Options for Start-up Businesses

Business depends upon the idea and vision of an individual or a group of people, and one cannot start it until and unless is confident about the idea. The biggest advantage of having your own business is that you have your own choices and you get to make your own independent decisions. But certain requirements of the business must be fulfilled. You should make sure that you have the abilities to start up a new business and along with that you are ready to give your time and strength to it as the establishment of a new business requires them all.

After this, the primary thing that comes in the way to start your own business is the lack of capital. One of the most basic things that every businessperson needs at some point either to continue, to establish or to start a new business is the loan. When any business entity has less capital, then it not only affect the progress rate of the entity but also decreases the employment rate which ultimately affects the lives of many people. There are many ways by which you can get loan and the biggest mean is the bank. It is also very important that you prepare a solid business plan. You should gather all the information regarding your business niches such as the information of the ownership and the management, the objective of the business, marketing plans and financial projections. You should also present your idea to the lenders. It will help them to develop confidence in your vision.

Along with that, a written business plan is always preferable as it contains all the information that the lender would need to check whether the firm is in a position to return the loan taken or not. It contains all the profit and loss statements, bank statements, business credit reports, personal credit reports, tax return documentation and copies of all the relevant legal documents. Do you want to start a business of your own? Are you passionate about business and related stuff?! Well, the two basic things that you need in order to start a new business are capital and your devotion, of course. So here I have six amazing financing options for startup businesses. Have a look at them:

f you want to start a business a

If you want maximum profit out of your business, then you will have to finance it personally. How do you expect any banks or lenders to take a risk in you when you are not willing to take a risk in yourself? There are numerous ways to finance your business personally. You can save up from your personal income, or you can also liquidate some assets to get the startup money. You can gain the finances for your business is through your property.

It can create a big role for the investment towards your business. You can pledge your property to gain enough amount of money for starting your business as personal assets play an important role in helping the lender decide to lend you the amount. They act as a guarantee to the lender that in case you fail to pay back the amount on given time then the amount can be recovered from the assets. But do all the necessary calculations and make a solid and effective business plan so that you don’t end up wasting your hard earned money. And your business can be more profitable if self-financed due to the ever-increasing interest rates of banks and private lenders.

 

If you don’t have enough resources to finance your business personally then acquiring a loan is another option you can avail. Keep in mind that loans don’t get approved so easily. You will have to ensure the lenders that you are worth taking the risk. Here are some tips that you should keep in mind while applying for a loan.

  • Start the application process before you need the money
  • Create a detailed business plan
  • Show how the business will be profitable
  • Try to improve your personal and business credit score
  • Consult professionals to look over the loan agreement before you sign it

 

Partnerships are a great way to finance a startup personally without any involvement of banks. Gather some friends and family members that you can trust and form a partnership to finance the business. But involving business with relationships can sometimes cause problems and can lead to damaging the relationships with your loved ones. So to avoid this problem, you should form a legally binding contract that specifies the roles of all the people involved in the business.

 

  • Incubators and accelerators

Incubators and accelerators are companies that finance your business in return for some equity. They also provide you access to experienced professionals and business contacts to improve your odds of success. But like a loan you need to show these companies that you are worth the investment and your business plan will be profitable.

 

Crowdfunding is the process of raising money to fund what is typically a project or business venture through many donors using an online platform, such as Kickstarter, Indiegogo and Crowdfunder. Crowdfunding is typically done through an online platform that allows the fundraiser to set up a public campaign for accepting donations. The campaign will advertise details such as the nature of the project or venture, the amount of money the company is hoping to raise and the campaign’s fundraising deadline.

People can donate a specified amount through the fundraising campaign’s website and often receive some sort of acknowledgement or reward in return for their donation. These websites are a centralized way for startups to reach out to a large community. Many YouTube channels got their startup funding from crowdfunding websites.

 

If any of the previous options are not available, you always have family and friends to look back to. You can ask your friends and family members to loan you the startup, or you can ask them to invest in your business. It is the most common way through which you can take the loan for a start-up business. You can always convince them to lend you the loan. Where you will need to return the loan you take, you won’t have to pay any interest on them and you won’t be under any extreme pressure by your friends and family. Just make sure that you don’t let the money ruin your relationships.

 

Author Bio:
Emily Stark is a financial analyst and accounting expert. She has in-depth knowledge about setting up small businesses as well as creating profitable investments. She regularly contributes articles related to business and loans at https://www.ebroker.com.au/.

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How Will Exiting Iran Deal Affect the US Dollar and Business

Iran Deal Under Review By President Trump

Since Donald trump came to power in 2016, there have been tensions between the US and various other countries which have caused economic and political shockwaves around the world. At the start of the year, tensions between the US and North Korea seemed to be escalating rapidly, and relations with China were stretched with talks of a trade war occurring.

Most recently, Trump’s decision to withdraw from the Iran deal drew widespread condemnation from global leaders, suggesting it was a controversial and potentially consequential move. Here are some of the ways this may affect the dollar.

Volatility

The tensions between the US and Iran may well cause volatility in the dollar, given that it is a controversial move which will greatly restrict economic relations between the two countries. Some even believe that other countries may benefit from this, as they try to bypass US sanctions and pay for Iran’s major export, oil, in their own currencies rather than the dollar.

This could end the era of the petrodollar, which has benefitted the US for many years. As such, the dollar’s value may well sink as other countries race to take advantage of this.

Sanctions

By withdrawing from the Nuclear Deal and putting sanctions on Iran once again, the US may well find that some businesses suffer as a result. Those which were previously dealing with Iranian companies will now find it much harder to do business with them, which could, ultimately, lose them profit.

This may well lead to a dip in their profits, potentially affecting the value of some company shares. Some groups may even need to use the services of investment advisors like Wellington Management Funds before choosing stocks to invest in, so that they can navigate some of the stocks which may lose value as a result of recent events.

Oil

The price of oil has already shot up to over $80 a barrel since the US placed sanctions on Iran once again, meaning that the sanctions themselves may well have had the opposite intended effect (given that the oil industry is a major part of Iran’s economy).

This could be bad news for US consumers, as it may well make a number of commodities (such as petrol) more expensive, and potentially drive down consumer spending, once again harming the dollar’s value overall.

The US withdrawal from the Iran Deal has caused a great deal of tension globally, and the full effects are yet to be realised. There will no doubt be further developments to come, many of which may have a bearing on the dollar’s value and fortunes, at least in the short term.

 

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How Technology Is Making Everyday Lending Easier

Technology Making Lending Easy

Technology has – and is – making everyday lending easier. Not only is it now easier than ever to get a loan, but the entire process is far more efficient than it has ever been before. With the chance to apply for payday loan on your mobile device, you can quite literally apply anywhere, at any time of day. Here, we’re taking a closer look at how technology is making everyday lending easier.

Use Your Mobile

Today, you don’t have to log onto a computer to request a loan; you can do it directly from your mobile device. With little to no time to take the time to travel to a location to withdraw cash, mobile lending is on the rise and applying for a loan online takes minutes. Once you have completed the simple online registration form and your loan has been approved, the money will be transferred to your bank account and will be available to spend immediately. You can even top up your loan online by logging into your account!

Online Registration Form

If applying for a loan via your mobile device isn’t for you, there’s still the option to fill out an online registration form on a laptop or computer. Many of these online registration forms require you to share your personal, contact, employment and financial details, which depending on whether you saved your details online, can be filled out automatically, saving you even more time when it comes to completing a lending application. Once you have filled out all the required fields, your credit score will be automatically calculated. From here, you will be told whether or not you are able to take out a loan.

Loan Repayment

Repaying your loan doesn’t have to be difficult either. With your online account, you can easily repay your loan online. You won’t have to answer question after question, as all of your details are stored in one place, saving you valuable time. When logged in to your account, you can view all of your payments, as well as when your loan is due to be repaid. This will help ensure that the money is repaid on time, and you can even set up reminders on your mobile phone for additional peace of mind!

Loan Repayment Calculator

As well as being able to repay your loan online, you no longer have to work out the best loan yourself. By using an online calculator, you can identify how much you can apply for before filling out a quick and easy application. By filling in the amount borrowed, term and interest rate, you can immediately find out the total monthly payment, total charge and total repayment for the amount borrowed.

Technology has undoubtedly made everyday lending easier, and receiving your payday loan is only set to become even more straightforward in the near future. With several new technological advancement being trialled each day, who knows how instant lending could become?

 

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How Fintech Is Aiming Millennials Using AI Machine Learning

Millennials >The Electronic Natives

During the last a few years, millennials have already been upending the customer market as businesses struggle to get the easiest method to attract the world’s first group of electronic natives, a wily lot whom thrive on invention, automation and also all of the tech gadgets that are latest.

As more of these young-adults go into the employees and start invest in their futures, businesses are speedily understand they may have to transform their approach to attraction to this demographics’ distinctive set of needs and also objectives, which take course to totally disrupt the status quo. In a nutshell, it can’t just be business as usual with the generation that is Smartphone.

Millennials Branded

As millennials have already been burdened with a few unattractive labels in modern times, as well as selfish, entitled and award kids, this tech confidence bunch has also been sleeted for being more progressive and also available to new ideas than earlier generations.

Millennials value transparency in addition to convenience. They basically demand to possess a modified products or even services at their fingertips anywhere and also when they need it, according to research that centers on how banks could recreate themselves in the age of millennial.

These types of defining attributes are just what companies require to bear in mind if they wish to maintain their competitive edge in this climate of lightning-fast technological change. It has not ever been truth than for fintech, an industry I have watched develop into becoming more hands on, easy to use and also amusing, thanks towards the computerization that is advanced AI technologies which has flooded the IT-sphere.

Fintech Business and Millennials

Many fintech businesses have seized upon a distinct segment possibility. They realize that old-fashioned investment and banking avenues are becoming quickly phased down. In reality, 58% of Americans believe that financial institutions will no longer exist in their form that is present within next couple of decades. In reality, a lot of big banking institutions have already implemented mobile applications so that you could match shifting customer styles, which are rapidly moving towards the digitization that is complete of sector. Fintech is using this process a step further by essentially replacing (human) financial advisors with robo-advisors that use big data, machine learning and also AI to basically cherry pick the best investment opportunities for this new generation of investors.

As the Chief Executive Officer of my own mobile app and web development store, I have caused a serious few fintech startups over the very last decade that understand the importance of targeting the requirements of this customer base that is valuable. I’ve been keeping a keen eye on this sector, pleased to see that the market is filling with investment platforms geared toward my generation.

AI, machine customer and learning service anytime, anywhere is where the future is headed. Businesses hoping towards capitalize on consumers changing mindsets, with millennials leading the cost, will need to fine-tune their jump or approach off the bandwagon. Those that have not began automating their services to appease the more youthful generation’s demands for transparency, ease and cool, interactive user interfaces have actually about another couple of years to get up or risk extinction.

 

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An Untraceable Currency? Bitcoin Privacy Concerns

Bitcoin is frequently portrayed being an untraceable technique of payment that facilitates illegal activities by allowing crooks to create and receive payments without being tracked. This depiction implies that users transacting in bitcoin can completely do so anonymously that their identities will never be exposed. However, that isn’t fundamentally the way it is. Although bitcoin provides better privacy when compared with traditional-payment connecting a 3rd-party intermediary for example a credit-card provider, it’s nevertheless not as anonymous as a cash transaction. A person’s identity could potentially be exposed in bitcoin transactions in fact, there are many ways.

A general idea of the Blockchain

Bitcoin isn’t anonymous. As we explain below, it really is pseudonymous an important distinction. It can also be a decentralized, peer-to-peer currency that is digital having no third-party intermediary for instance, a charge card issuer, vendor processor or bank that is involved to verify a transaction between a customer and vendor. Since there is no party that is third there must be another way to confirm a transaction between two users and avoid the double-spending problem i.e., a means of guarantee that an individual does maybe spend bitcoin they have formerly transferred.

This is where the Blockchain, the undoubtedly revolutionary aspect of cryptocurrencies such as for instance bitcoin, is necessary. A Blockchain is just a public, distributed ledger, by which every transaction is documented. A Blockchain ledger is distributed across a group of computers thousands of them, each with its own copy of the Blockchain transactions unlike traditional payment systems in which the ledger is maintained by a single third party.

Each block of deals in a Blockchain is complete by users within the peer-to-peer network, known as miners, who compete to resolve a complex problem that is computational. 1st successful miner to validate the deal broadcasts it to the network that then checks the results. Once checked, the new deals are added as a new block to the Blockchain. The miner who first successfully verified this transaction gets rewarded by the network with newly created bitcoins in the case of bitcoin. At the time of 2016, the reward was reduced from 25 to 12.5 bitcoins, and it is expected that the reward will be further reduced to 6.25 bitcoins in 2021 July.

Tracing Bitcoins Back to Individuals

Encryption might make the impression that these transactions are visible however unmatchable to specific individuals. However, bitcoin isn’t as untraceable as encryption may indicate. Tying an encrypted transaction to a real person may be it’s not really a risk that is remote. There are numerous ways this could occur.

 

Users who count on a bitcoin trading exchange such as Bitfinex and Binance or Kraken to switch money for bitcoin have to divulge their information that is personal to exchange to produce a free account. The information collected by the trade varies, however normally includes, at a minimum, a user’s first and name that is last and, possibly, a phone number. The trade may additionally collect a user’s ip. If these exchanges had been subject to a data protection breach, a user’s personal information could be exposed. In addition, some exchanges that are centralized to manage users’ bitcoin funds and users’ private keys on their behalf.

You can find additionally wallet that is on line providers that control users’ wallets on their behalf. A wallet is really a software program that stores an accumulation of a public that is user’s personal key pairs. The storage space of personal tips makes these central exchanges, and online wallet providers, prime targets for crooks because, as discussed above, you aren’t access to a user’s personal key should be able to develop a bitcoin transaction that is valid. A hacker who accesses a user’s private key can send all of that user’s bitcoins to him or herself, or even to any intermediary of their choosing.

Summary

Although bitcoin is a decentralized and unregulated payment method, users should recognize that this does not mean that their bitcoin transactions are private and hidden from scrutiny. The public nature for the Blockchain coupled with the increasing threat of government regulation can result in the identification of users involved in transacting the currency.

 

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The Impact of Cyber Attacks on the Banking Industry

 

There have been increasing numbers of cyber attacks reported in recent years across all industries and it is costing the United States an absolute fortune in cyber security. Obama announced that $19 billion was to be dedicated to the ongoing fight against cyber criminals, highlighting the gravity of the threat it now poses to businesses and even households.

In 2016 there were widely reported attacks on PayPal, Twitter and Spotify to name a just a few of the big companies that have been targeted. The number of cyber attacks across the world is increasing and businesses are spending more and more money in deterring the crime.

Banking Sector Most at Risk

Of course, the banking sector is one of the industries that are most at risk, given the nature of the data that they hold. This means that banks have had to dedicate significant funds on developing their digital infrastructure to strengthen their cyber security. The banking world has long been seen as a very profitable industry and for many banks that still remains to be true. Investment banking experts like Fahad Al Rajaan demonstrate that the banking sector can still be a very effective way of making money. It is therefore vital that banks are protected from cyber-attacks.

Preventing Cyber Attacks

As well as spending more on software to reduce the chances of an attack, companies now spend more on resources dedicated to preventing cyber-attacks. This means that extra IT personnel are required, extra training for all staff and more resources allocated to analyzing their cyber security and performing risk assessments.It also means that more robust policies and processes must be introduced. This can vary from developing and delivering online training for staff to raise awareness about the risks of cyber security, to employing a whole team of experts to audit the processes. It is certainly becoming a very costly affair.

Cyber attacks not only cost businesses from the initial financial sting, they are also impacted by the reputational damage that the attacks can cause for years to come. If somebody feels that their money isn’t safe with a bank, then they are likely to close their account and go to another one that they feel will protect their money better. The more publicity that a cyber attack attracts, the higher the reputational damage will be.As mentioned before, the government is committed to driving down and eventually eradicating the threat of cyber attacks. Greater cyber security laws are being ratified and harder punishments will be a deterrent for many would-be cyber criminals.

 

Finding a Solution

It is unfortunate that such huge amounts of money are being spent on cyber crime, both by the government and by businesses. Until a solution is found, it looks like this trend will continue and the threat of cyber attacks will dominate how businesses setup their IT structures and policies.

 

 

 

 

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How to Successfully Market Your Bar or Club

Marketing Your Bar or Club

Building a customer base is easier than ever in the digital age, but marketing a bar or club can still be tough. If you live in a well-populated area, chances are there’s a lot of competition from other cafes and bars, whereas if you’re the only one for miles, you will struggle with lack of footfall. What’s more, people have certain expectations when they come to a bar. Most people are reluctant to spend money on a new business, as they don’t know if their consumer needs will be met. As the owner, it’s your job to convince them they’ll have a great experience, and you do this through dedicated marketing. Here are five steps to help you make an impression.

Know Your Brand

Just like any other business, your bar or club needs a brand. So before you market your business (or ideally before you open your doors), you should know these three things: what you do, who you do it for, and what makes you stand out. In other words, you should come up with a concept that’s as niche as possible, for example, locally brewed craft ales, and then identify your target market. Your USP (unique selling proposition) is what makes your business stand out from the competition. Make sure every piece of marketing material you put out there reflects your brand and ethos, from your menus and signs to your social media posts.

Perfect Your Website

These days, if you want to market your business successfully, you need a functional website with responsive design so people can use it on their phones and tablets. This website needs to be clean, precise and easy to navigate. What’s more, your home page should include photos of your establishment, so people know what to expect when they visit you, and your contact details should be clearly visible. If your interiors are looking shabby, you may wish to redecorate or invest in some new pub furniture and have professional photos taken.

Optimise Your Signage

Signs both inside and outside your establishment can generate lots of business, so it’s worth investing in a graphic designer to make yours stand out. Everything from your menus, receipts, promotional boards and outdoor signs will help promote your business, so be sure to capitalise on these opportunities.

Boost Your Online Presence

What do most people do when they’re looking for somewhere to eat or drink? They look online. Therefore, you need to make sure your bar or club appears in search engines and on social media so you can connect with prospective customers. Your contact information, opening hours and menus should all be easy to find. If you serve food, you want to enable online reservations to make booking a table even easier.

Monitor Your Reviews

Reviews can make or break a business, so it’s important to take them seriously. Monitor your pages on Google and Trip Advisor, and take time to respond to comments – both positive and negative. Doing so gives you control over your reputation and helps you deal with any complaints head-on. Keeping in touch with your customers will help foster conversation about your business and show the community you care what they think.

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High Cable Costs Are Blowing Up !

The way we watch television today has dramatically changed from just a few years ago. It is no longer required to be tethered to the cable cord with several different streaming services such as Netflix and Hulu that could potentially save you thousands in the long run. Cable bills generally come in at a staggering two hundred dollars per month, but most streaming services have memberships as low as six dollars per month. Several new streaming services such as Amazon Prime Video, Amazon Fire TV, and Sling TV there are no longer a need for these pricey conglomerates.

There are several things you may need after you give the boot to your cable box and hardware devices you currently use to watch cable. For example, you will need an antenna, a streaming device like a smart TV, streaming stick or laptop type device and of course a streaming service.

 

Very similar performance wise to the Mohu Leaf, the Flatwave antenna costs a mere ten dollars and is powerful enough to reach broadcast singles thirty miles away. Sense you are dropping your cable provider saving, even more money, (Leaf priced at $70) only makes sense, and the size is small and can be mounted just about anywhere with its fifteen foot coax cable.

 

If you have a new smart TV, you are set to go because most of them come standard with streaming services like Netflix and Hulu already installed. If not grab inexpensive streaming sticks like Roku Ultra or a 4K player like Fire TV and Chromecast Ultra. If you’re a gamer, the PS4 and Xbox one have these streaming apps integrated in them already.

There are the common streaming services such as Amazon Prime, Netflix, and Hulu to choose from but there are some others to consider today as well. If you desire a more authentic cable viewing experience then DirecTV Now, Sling TV and PlayStation Vue will deliver. However, these replacements for your cable will cost you far more than the more common streaming services.

 

If you have not cut the cable cord yet due to losing your sports and premium channels like ESPN and HBO, we’ll wait no more, these highly sought after networks are cutting out the middle man. Every major network for sports, MLB, NFL and NBA, all have streaming services available, and you can now get HBO Live, Starz and Showtime streaming as well for a much lower price tag.

 

Cut yourself loose from the behemoth cable monopolies and start streaming your way to leaving your hard earned cash in your wallet. Stop paying astronomical costs for watching TV and stream your way into the future.

 

 

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Is Bitcoin’s Slow Dominance of the Internet a Good Thing?

Back in 2008 when Bitcoin was first conceived and began making its entry into the world of currency, there was a great deal of speculation as to whether or not this digital currency could (or would!) take the power of finances away from central banks around the world that have always held the keys to wealth. Over the past 8 years Bitcoins have surged in value from their humble beginnings at a value of $0.01 per coin to over $1200 per coin in 2013 and then back down again to just about half that value where they are currently valued at. Even though this currency is highly speculative, there are those who question whether their slow dominance of the Internet is a good thing – or not. Here are some thoughts on the issue.

Difficult to Use without Being Valued against other Bitcoins

As a peer to peer currency that is really valued by supply and demand, it should also be realized that there are only so many Bitcoins that will ever be made. The supply is finite, which to some, gives them value because of the old ‘supply and demand’ rule of finance. When it comes to wagering on online games such as poker, it becomes difficult to use them as a currency because it is difficult to break them down into smaller units that can be used as a wager and also, hard for ultimate values to be assessed as the value is even more volatile than many of the leading currencies on the market. It is far easier to use a major currency against another major currency than it is a digital currency against a major currency. In short, they are not yet fully understood by the masses and computations are highly complex. Too complex for the average financial transaction online.

The #1 Concern – Digital Anything Is Open to Hackers

Then there is the concern that since Bitcoins are a digital currency, hackers can literally take over a person’s supply with no one being the wiser as they can also create bogus Bitcoins that may be passed as authentic. The current level of online security appears to be inadequate to keep up with the type of security needed for digital currency so the slow dominance of the internet in this regard is actually a good thing. The longer it takes for this particular currency to gain in popularity and use, the longer cyber security teams will have to find ways to secure sites that accept Bitcoin payment.

In the end, the faster anything at all gains dominance over a market, the quicker it can come tumbling down. When people like online gamers are wagering bets, the money they are playing with needs to have real value. There is nothing ‘tangible’ about an online game as there would be such things as ordering articles from an online merchant and with the hopes of winning, that money being wagered becomes all the more important. It’s just that – a wager, a bet. With nothing to say that other digital currencies won’t hit the market, lowering its value and no sure way to protect against hackers at this time, slow dominance is indeed a very good thing.

 

 

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