Charles Hugh Smith had a great article on the future price of bitcoin. He touches on several points of the bitcoin nay-sayers, including the talk on bitcoin bubbles and the beanie baby craze.
What is an ICO?
ICO stands for Initial Coin Offering. it is a slight change from IPO Initial Public Offering on the stock markets. At first there were only clones of bitcoin being released, but now it has progressed to tokens on the Etherium network. The term is now used for both alt-coins and tokens. These events are getting a lot of attention because Millions of dollars are being raised for these groups, so with only a white paper and no proof of concept.
Here’s a great interview from MadBitcoins on the current ICO market.
Where does the bitcoin price come from?
There are several exchanges on the Internet that host trading of bitcoin 24 hours a day, 7 days a week. With all of the buying and selling on the order book, just like in the stock market, a price is discovered. Right now, in 2017, the prices on the exchanges do not match up together as much as they used to. In fact coinbase, one of the easiest exchanges to buy from in the US, has one of the highest prices.
Getting started in Bitcoin is free!
Some people probably don’t know that to get started in bitcoin all you need is wallet software. Get a wallet for your smart phone from mycelium, airbitz, or breadwallet. Once you have that, you can get a public address. With that address you can get some bitcoin from a website called a bitcoin Faucet.
Try this one out!