Bitcoin, the first of a now-growing variety of cryptocurrencies, has been purchased for more than 1000-dollars per unit coin in its short time on the open Internet market. In 2013, bitcoin shot up around 1242-dollars, making its perceived value rival that of gold as an investment tool. In recent months, however, the average value of a bitcoin has diminished to a more modest range of between 300 and 400-dollars per unit coin. The sometimes wild swings in the relative-value of a bitcoin has positioned this particular cryptocurrency as a solid cornerstone in the online cryptocurrency market, making it a viable money-maker for speculators interested in attempting to gain additional wealth. These savvy opportunistic speculators strike it big by earning a return off the exchange rate that exists between bitcoin and other cryptocurrencies and standard Forex-based currencies.

As uncertainty looms in econimies around the globe, this state of affairs seems to fuel an increased popularity in bitcoin as an alternative monetary source in case of widespread economic collapse. This popularity may arise simply due to the fact that it is easier to acquire bitcoin than it is to acquire other precious metals. In addition, there is zero threat of government recalls on bitcoin, as compared to the weighing concern of recalls on gold bullion that have made investment decisions difficult in the past for those adding precious metals to their investment portfolios. With the increased ease of which bitcoin can be transferred to less common cryptocurrencies, and the anonymity involved in such transactions, this makes the choice of purchasing bitcoin all the more attractive to forward thinking investors.

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Bitcoin And The Devalued Ruble

Although one might expect a third world country to attempt to spark favorable economic growth by riding on the surge in the popularity of bitcoin, it isn’t simply the less developed countries that are striving to utilize this controversial cryptocurrency. With the recent heavy devaluation in the Ruble, the Russian government is left to the task of reconsidering its intended ban on bitcoin. As for the long term consequences of opening the bitcoin market up to its citizens, know one can say for certain how this will impact payment services in the country’s struggling economy.

The current economic atmosphere has the former super-power reconsidering its hostile disposition towards the use of cryptocurrencies like bitcoin, which may in turn save Russia from a looming economic disaster, especially if the Ruble continues to take a significant hit in the coming months. At least, the citizens of Russia seem to see the value in collecting bitcoin to improve their economic situation even if their leaders are still scratching their heads over how to approach the situation with a less heavy-handed use of legislative tact.

The Dark Underworld Value Of Bitcoin

Because of the amazing preservation of anonymity inherent in bitcoin transactions, the use of cryptocurrencies are generally a hot item among the criminal element. Illegal markets of varying types have popped up all over the Internet. From the sale of prescription and illegal drugs to illegal weapons trafficking, the role of cryptocurrencies at the heart of these forms of online organized crime rings is perhaps more intentional than one might care to imagine. Yet, if cryptocurrencies like bitcoin did not carry any inherent value, it would be difficult for these questionable markets to survive and thrive. In many ways, the existence of such markets takes a significant portion of criminal transactions off the streets and puts it on the Internet instead.

This leaves many to conclude that bitcoin may harbor the additional value of making their city streets safer as well. Whether you are speculating on the future value of bitcoin, trying to weather an economic collapse, or operating under the radar, it is evident that bitcoin has an inherent value that is shared by all segments of society. For the time being, its unregulated use is itself a form of freedom that many bitcoin users can truly appreciate while it lasts.

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