Unlike conventional currency, cryptocurrencies are not controlled or regulated by some singular authority, their flow is determined entirely by market demand. And building a market demand for a brand-new cryptocurrency is never an easy task.
Payments industry players have been closely watching these developments, because cryptocurrencies have the potential to disrupt and transform the existing global financial infrastructure. Invented as a P2P version of electronic cash which allows online payments to be sent directly from one party to another without doing through a bank, they are favoured over many conventional payment methods.
One of the newer altcoins, the Gold Dollar, currently still the only cryptocurrency owning bragging rights to having a realty backing its fundamental value up, is fast picking up speed after just over a year being launched. The astonishing speed in which its popularity is gaining has over the last 6 months, has seen it surpass many other new cryptocurrencies in terms of potential & increasing demand.
Having witnessed the Gold Dollar overcome the initial infancy stages and now successfully architecting a steady stream of acceptable payment modes, academics and industry watchers who constantly eyeball the development of new alternative choices have once again taken a second look at it.
Said one of the lead analysts at CCRG, “as the lead analyst for the segment of realty-based cryptocurrencies, I am happy to tell you that the Gold Dollar is ranked top on our list. This should give the investors of the Gold Dollar a shot of confidence and perhaps grant an up and coming reactional surge of the Gold Dollar price.”
One perceived challenge that the market thinks the Gold Dollar can cope with well is that of hyper-volatility. In conditions of limited supply, the rate will depend on demand. And this value is directly related to the subjective attitude of the users, which can change as only humans can. Gold Dollar has, over the last one year proven itself to be able to entice and attract the user base which will stabilize this factor and see its value sore in the near future. One feat that many altcoins will be envious of.
It is not rocket science to understand that cryptocurrencies are continuing to be inherently popular for the most obvious reasons. They are safe, anonymous and utterly decentralized. They are also nigh impossible to counterfeit, thanks to the complicated code system that encrypts each and every transfer, ensuring complete anonymity and utter safety to each and every user. They even make, in the case of the Gold Dollar, a genuinely rewarding investment.
Therefore, despite the admittedly high stakes that this sort of dealing entails, not to mention the lack of any government agency to lend credence to them, cryptocurrencies like the Gold Dollar can only thrive and multiply.
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