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project team Check the project developers and people related to the project, whether there are legitimate developers and a trustworthy team behind them. Community building and management A truly safe and reliable project team will have managers in the community to deal with some problems at any time, and to promote and maintain their own projects. Before investing in a project, understand and study the project itself, study its roadmap, and reduce investment risk losses as much as possible.
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The digital currency issued by the central bank is still centralized, and it is supervised by the government. The government has complete control and can monitor bank accounts through the banking system. But the issuance of digital currency may also promote the growth of the currency economy. People learn about the concept of digital currency and blockchain, and increase their awareness of this new thing, thereby attracting more people to invest in it.
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Most cryptocurrencies are decentralized. If the government regulates cryptocurrency like legal tender, it will formulate corresponding regulations for this, and the cryptocurrency will be manipulated, lose its decentralization and anonymity, and destroy the blockchain encryption system. Cryptocurrency should not be regulated by the government. It must ensure the decentralized nature and freely trade in the blockchain system.
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Cryptocurrency is related to Bitcoin. Bitcoin has been invented for more than a decade. After Bitcoin was invented, many digital currencies that used blockchain technology were derived. Many people saw the benefits of Bitcoin and now they have developed many altcoins. The influence of market sentiment. Many investors refer to Bitcoin price trends when trading. Many investors refer to Bitcoin price trends when trading. Prices usually fall, which makes everyone panic about the crypto market.
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Bitcoin's volatility and external factors have had a certain impact on Bitcoin. Both Amazon and Tesla have helped Bitcoin gain popularity, allowing the people who have not yet joined to access Bitcoin and cryptocurrencies, which will help Bitcoin's popularity. The more wealth stored and traded on the Bitcoin network, the more valuable Bitcoin becomes, both of which have an impact on its price. Bitcoin is still affected by current events, but this impact is only temporary and only hype the market in a short period of time.
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If you have become very rich, you will not care too much about whether you should sell when the price of cryptocurrency falls. You will be more willing to bear the risks of investment and it is easier to choose long-term holding. Ordinary people pay more attention to price fluctuations when investing. When prices fall, they will be afraid of the market and choose to sell. Or when they use most of the funds to invest, and they happen to encounter an emergency, whether it is profit or loss they must sell.
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Banks are controlled by the government, and unregulated systems like Bitcoin and other cryptocurrencies are a threat. There is a big difference between traditional currencies and cryptocurrencies. Banks use conventional currencies in various ways to meet various needs of themselves and the government, and print additional currencies when necessary. Cryptocurrency is decentralized and the government cannot control it, its number is fixed and limited. If the bank uses cryptocurrency, which will result in the loss of their profits.
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If I can get paid through cryptocurrency, I would prefer to accept cryptocurrency. The price of cryptocurrency is not fixed. At the beginning, I can store a small amount of cryptocurrency. When the price drops, I will increase the cryptocurrency and store it in my wallet, which may gain more benefits in the long run. But there are not many shops in my country that accept Bitcoin as payment, so I have to keep a small part of the legal currency for daily needs.
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I don't think that blockchain technology will completely wipe out banks. Banks will find a way to adapt to it, or at least create other aspects to continue to exist. Blockchain and traditional banking will coexist, and everything will become a fact of survival of the fittest at some point. Traditional banks have cash, and blockchain is cryptocurrency. If they want to replace these banks, then this also means always using cryptocurrency instead of cash, which is almost impossible.
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Cryptocurrency will not cause a financial crisis. The proportion of people holding cryptocurrency in the world is very small, and the market value of cryptocurrency is not enough to pose a great threat to the financial system. The financial crisis is caused by the unlimited printing and distribution of money by institutions to cause inflation. Bitcoin is not controlled and restricted by the government, and the total amount is fixed, and it will not be issued.
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Bitcoin is accepted and used by more countries and people's consensus on it has been strengthened. Bitcoin will eventually be used in more places. But you need to pay the high transaction fees when buying small items with Bitcoin. For example, no one wants to pay $10 in fees when buying a $2 bread. So how will they deal with future expenses?
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I prefer Bitcoin investors. Many people began to buy a lot when Bitcoin was only worth hundreds of dollars. They were influenced by a firm belief trend. These people often followed the creed of only buying and not selling, which also made them very profitable. When the price of Bitcoin fluctuates sharply, based on strong beliefs, he is not worried about it and he firmly believes that Bitcoin will rebound sharply and will buy some Bitcoin.
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Not all altcoins depend on Bitcoin, but Bitcoin and altcoins have a certain correlation. Generally, the price of most altcoins changes with the changing trend of Bitcoin prices. Through the market trend, you will find that when the price of Bitcoin rises, the price of some altcoins will also rise. But sometimes Bitcoin and altcoins have different market trends.
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Bitcoin itself is relatively trustworthy. After realizing its value and accepting this new system, Bitcoin has more revenue opportunities. It can also provide services and store data. I believe that Bitcoin is the future development trend, and it still has a long way to go before the global adaptation.
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With other countries seriously considering this direction, the EU has finally start its Digital Euro (CBDC) project. It will take them 2 years to explore the potential of such a currency, and if they decide to actually apply it, they say it would take them at least 5 years to officially launch it.
The digital euro will only give more control to the fiat system. The main goal seems to be to eliminate Bitcoin as a potential threat. Their plan is to terminate anonymous cash transactions at the beginning and then attack all decentralized cryptocurrencies so that they can Can control our income and what we buy with their central bank digital currency. This currency must prove its technical feasibility on the same basis as distributed cryptocurrencies. Therefore, it cannot achieve the best balance between utility, efficiency and trust, and it will take several years to release something feasible to the public.
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Since Bitcoin was created, the Bitcoin network has been operating normally, and neither the government nor the regulators can stop the development of Bitcoin. The reason why Bitcoin can become a valuable cryptocurrency is largely due to its anti-censorship characteristics through decentralization. Every blockchain that emerged afterwards also started with a high degree of centralization. Although its creators intend to improve this as soon as possible, unlike Bitcoin, it is difficult for most blockchains to make substantial progress in decentralization. Bitcoin has the most nodes running in the world and there is no central authority to distribute it. Bitcoin the most decentralized cryptocurrency?
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I will not give up Bitcoin, because Bitcoin can really help me get a lot of benefits. Even if there are bans on Bitcoin in some countries, some people can still use it and transfer it to a wallet with safe access. When encryption became popular on the Internet and attracted worldwide attention, it was banned in many regions, but this was only temporary, and now it has been accepted and recognized in many regions. Bitcoin has brought many positive effects to society, and it will have great development potential in the future.
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Bitcoin's lifetime and value are unlimited. More regions and countries accept Bitcoin, and some countries use it as legal tender. Bitcoin is recognized and traded by more and more people. People's demand for it will increase, and its value will also increase. It will also be a lot of room and potential for appreciation. As we all know, Bitcoin is scarce with a total of 21 million, which is limited in number.
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With the development of blockchain, cryptocurrency is a new economic trend. The issuance of fiat currency leads to inflation and depreciation. People will turn to cryptocurrency, become more interested in cryptocurrency and demand for it. Cryptocurrency is not restricted by the government and circulates all over the world. People see the potential of Bitcoin and know very well that they will profit from it, they will continue to invest and use it, and cryptocurrency will also be very popular.
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With the development of blockchain technology, a large number of altcoins have appeared on the market. The emergence of most altcoins is not to bring benefits to investors, and to profit from investors themselves is just a short harvest. Their appearance will not have much impact on coins with a long history of development, and the increase in altcoins only increases the overall market value to some extent.
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