Bitcoin: Navigating The Dip

A person or group of people operating under the name Satoshi Nakamoto launched Bitcoin in 2009. A worldwide army of enthusiasts swiftly adopted the cryptocurrency. It currently has user dashboards looking like the silhouette challenge however.

HOW BITCOIN WORKS

Bitcoin is a digital currency which has no ties to any bank or government. Bitcoins are basically lines of computer code that are digitally signed each time they are transferred from one owner to the next.

Users create the coins, “mining” them by lending computing power to verify other users’ transactions. For that, they receive Bitcoins in exchange. The coins however have monetary value. They can be bought and sold on exchanges with U.S. dollars and other currencies.

Since coming to light, cryptocurrency has been widely hailed as everybody’s “inroad” to financial independence. Some businesses receive Bitcoin for payment and a number of financial institutions allow it in their clients’ portfolios. Overall mainstream acceptance is still quite limited though.

Leading cryptos Bitcoin and Ethereum have endured a turbulent time over the past week. Share prices have dropped by 37.10% and 42.23% respectively. The market crash follows a decision by Tesla to no longer accept Bitcoin as payment for its vehicles, as announced by the car company’s CEO Elon Musk.

More recently also, China banned financial institutions and payment companies from providing services related to cryptocurrency transactions and warned investors against speculative cryptocurrency trading.

WHAT TO DO?

  1. Don’t Panic. The most important thing you need to have in order to make the decision is your head. Whether you are going to buy the dip, see the dip out or get out while you can, use your head. We are not telling you to not be afraid of losing your money. But, be sure you’re not just making an emotional decision.
  2. Assess and Evaluate. From a place of calm, make research, keep abreast of news and developments regarding cryptocurrency. It’s not the first time in recent times that the market is being hit. Just in February, the Central Bank of Nigeria (CBN) banned Nigerian banks from dealing in all forms of cryptocurrencies, then Tesla, now China, and there have been conversations surrounding India.
  3. Make a Decision. Assess the situation and what it means for the future. As a result, you will be making an informed decision. This provides an action plan that reflects your current view on the potential risks and opportunities of cryptocurrencies.

The plunge in cryptocurrency markets may have you unsettled. But remember, this is not the first time the market is dipping.

FIVE NEW REALITIES IN THE DIGITAL WORLD

Daniel Newman, a principal analyst and a digital expert, talked about the happening digital transformation in one of his articles. And in this article, he went on to mention some trends that must characterise the digital world. And that too in the year 2017.  So, he talked about expecting more of adaptability and top-notch user, customer experience brands.

Also, he advocated for the “Fail fast, succeed faster” mentality. Literally, this is his way of talking about the proactive innovations that will pervade the year. These proactive digital innovations will open the way to being able to work and do things from anywhere and at any time. In the long run, Newman’s model for the year 2017 is this:

An organization that can change both its technology and its culture rapidly

Agile, adaptable and designed to thrive long into the future where change is the only constant.

But the question now is has Newman’s model materialised over the months this year? Rather than give a conclusive answer, you would like to check up on www.vtpass.com to see for yourself. The adaptability, user-friendly nature of this online payment platform is on par with Newman’s model.

And there are more.

NEW REALITIES IN THE DIGITAL WORLD

Cryptocurrency

Cryptocurrency has been in the jig for a very long time now. But it seems to only have very recently garnered a wide interest in all spheres. And even in the most remote part of the world. This is because it has stepped on just the right buttons in the digital world. The transparency, workability, and adaptability of Bitcoin, for instance, has made it a wild card. Right now, Bitcoin as a digital currency is competing on the same level with physical currencies. If not, on a higher level.

Driverless

At a point, people thought it was impossible to have a driverless car. But just this year, a lot of driverless innovations have emerged. Ford is one of the powerful forces when it comes to the invention of driverless cars. This innovation meant to make life easier has Uber and Google incorporated this as one of their goals . And in fact, these driverless cars are slowly emerging out of the works to be a new reality

Bad-ass iPhones

It is no news that Apple has released its new line phones- iPhone 8 and iPhone X. The exquisite features on these devices are relatable to Newman’s words. Presently, these iPhones are rocking the world.

VTPASS

newman stated a point that was really punchy. According to him, “digital transformation isn’t only about technology. It’s about bringing together the power of technology with a culture that embraces the change.” And believe it, Vtpass, as an online payment platform has arisen to this task- merging dynamism with technology. In responding to the needs of people across the country, it has now been made possible to make bills anywhere and anytime. You can now pay your electricity bills, phone airtimes, cable tv subscriptions, data subscriptions and much more in 3 easy steps. All you need do is log on to www.vtpass.com, select your service and pay. It’s as easy.

Inevitably, this puts this service as one of the new digital trends that is in not time bound to break barriers.