Bitcoin, The Great Deception

Bitcoin, The Great Deception or Investment

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This question keeps coming up: Is Bitcoin a great deception? Is it a quick way to launder money, a way to show the world that you are against the status quo, or is it just a new fad which will die as soon as a new hype comes to town? So far,ย Bitcoin has been volatile, achieving hugely unpredictable movements in its value, making thousands of people millionaires or bankrupt along the way. The key idea behind this blockchain-based currency is that it exists independent of any asset or state-backed currency, making it a free-for-all. Again and again, we have heard that Bitcoin will fail; itโ€™s a sham, and it is going nowhere from people like Jamie Dimon, CEO of JP Morgan and many other well-reputed individuals.

Bitcoins’ future is further questioned by the introduction of asset-backed currencies such asย JP Morganโ€™sย ownย JPM Coinย or tether, blockchain coins, which are calledย stablecoins, coins which are backed by asset reserves, making them more secure, stable and not linked to being notorious for their anonymity.ย There is a huge uproar in the startup world on the introduction of this new direction for blockchain currencies, platforms like TrustToken are helping startups create such coins, a process called tokenization, TrueUSD was the first stable coin created on this platform.

The technology industry is on wildfire, with the advent of Big data new ideas are being worked on and a 100 million new startups are being created every year (GEM National Report). Having a strong Firm of Growth Consultants, Business Advisers, and Accounting and Tax Specialists can result in an enormous difference between the success and failure of a new startup. Having accountants who are savvy and understand the complicated rules around changing technology can result in extra savings and growth leaps, which can consequently mean success or failure. Clear House Accountants are Specialist Accountants in London who are experts in working with creative businesses across the UK, helping them create smart tax and accounting solutions to their innovative problems.

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