Over the past year, bitcoin fell 80%, Ohio why to accept bitcoin payments?

Although the bitcoin devaluation, but the American state of Ohio has become the first to accept bitcoin payment, but with bitcoin prices continue to fall, will anyone really pay with bitcoin? Foreign exchange experts said that Ohio’s move may wish to become a “grab headlines” news of the case, but the tax is unlikely to become a reality.

The analyst said that in the past week, bitcoin market capitalization fell 22% last month, the city is plunged 40%, it is time to abandon the encrypted currency investors? The main reason is the collapse of bitcoin panicked investors want to reduce losses, this time last year, the price of bitcoin is about 2 million, the current value of only $3664, over the past year, bitcoin plunged nearly 80%, at this point, the state of Ohio to accept bitcoin payment, just in order to attract eye?

It is reported that, due to the volatility of money market bit so violent, Ohio said, will protect themselves through the use of bit bit payment payment, fixed exchange rate set in 15 minutes, as part of the agreement, bit payment users will need to accept any sharp fluctuations in prices in this period of time, to ensure that the customer is. Ohio get a fair share of tax.

The real vision company co-founder and CEO Raoul Pal told NBC News: “people are worried about bitcoin dream has ended, the reality is that people do not want to have a loss, there was a lot of people buy bitcoins, now they began to lose money.”

According to the virtual currency market (CoinMarketCap) data encryption, digital currency market in 2018 January hit a high of $800 billion, now the value plummeted sharply, now only about $130 billion, while bitcoin, is still the largest digital encryption currency, bitcoin nearly $67 billion to occupy in the digital currency market.

Parr said: “this is very similar to the first wave of the Internet boom, with any network function of things, whether pet or flowers, people will buy it, people all hope that it will be able to sell, earn a lot of money.”

Although the market panic exacerbated the sell-off of bitcoin, but analysts also said that due to the recent emergence of a bitcoin digital currency cash, which is equivalent to the bitcoin split, resulting in bitcoin prices plummeted; in addition, investors may be selling independent bitcoin, to compensate for any potential risk of the recent bitcoin split this is caused by the two kinds of anti risk ideas.

The blockchain investment company OnChain Capital founder Corran nnoitora – Na said: “these people have a lot of bitcoin, and have a long period of time, they have to do now is to sell bitcoin to stimulate this war, and trying to win the bitcoin war, this is a bit like a a waste of money and time of self destructive war.”

In addition, according to analysts said the U.S. Department of justice for some bitcoin traders, is suspected of using another called Tether password to raise money, as the price of bitcoin means of investigation, however, the survey results help boost investor sentiment. Illinois – Nash said: “the most important thing is that we are close to the bitcoin end of the bear market, but in the bear market, the good news doesn’t count, the bad news is magnified countless times.”

Bitcoin enthusiasts will no longer hold bitcoin to investment, now they can use it in more and more places, from Expedia and Overstock and other online sites to local lawyers, flea markets and Wine shops and so on, these places are added to accept encrypted currency equipment.

Although the discussion about bitcoin mainly focus on the price, but analysts said that part of bitcoin is just a block chain technology, block chain is a kind of more technology, this technology supports the development of bitcoin, and allows transactions can not change the classification of public accounts, bypassing any the middleman. Parr said: “the bitcoin currency will become the future common? We really don’t know, because bitcoin actually, its usage is still very low, the scene is still very little, but we know that the blockchain technology market size is very large, block chain technology has great development in the next 5 years will.”

Bitcoin can become a common currency has yet to be determined, but the U.S. state of Ohio to accept bitcoin tax is That’s final. thing, maybe is the state of Ohio in the encryption properties, bitcoin to the center of the characteristics or bitcoin future potential value return.

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