No, Bitcoin Isn't Going to Replace Gold
It's quite possible you could go through the remainder of your life without seeing the type of gains that cryptocurrencies have delivered for investors in 2017. Ethereum has rallied by more than 3,000% since the year began, while bitcoin, the largest cryptocurrency by market cap, has returned close to 300% year to date, and nearly 1,400% since hitting its lows from two years ago.
There are a plethora of factors that have lit a fire under cryptocurrencies. Most notably, investors are really excited about the blockchain technology that underlies most digital currencies. Blockchain is nothing more than the digital and decentralized ledger that records transactions without the need for a financial intermediary. Blockchain is believed to be especially secure, and since it's a relatively open network, it would make altering data without anyone else knowing practically impossible. Blockchain could have wide-ranging application from the financial industry to energy trading platforms, and its uses could stretch from business-to-business transactions all the way down to peer-to-peer.
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Source: Fool.com
