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Bitcoin, being a different kind of a digital currency, it breaks down conventional thinking in many aspects. No central regulatory body. The concept of mining. The open-ledger (blockchain), the way miners are rewarded, how transporting value is determined by its packet size and not value, the hash rate, the concept of limited supply. The 100 Million pennies in a Bitcoin, etc.
For a common person, its an overkill. Its like trying to explain the concept of TCP/IP, Networking, Routing, the Internet for someone who wants to use email. Overkill.
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Bitcoin are doing things slow and steady so that they have a scalable, cheap, fast and.. most importantly.. decentralised solution that can really try to establish itself in the real world.
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Blockchain, bitcoin, and new innovations from the fintech sector are showing that they can improve the status quo, but also advance the concept of digital currency, making it a real contender to replace fiat money. This is putting the world’s governments in an awkward position.
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It’s no question that bitcoin cannot exist without blockchain, as this is the cryptocurrency’s defining feature. However, many have wondered if the underlying technology could persist even if the digital currency is no longer in existence. After all, bitcoin is having trouble shaking off its negative associations with money laundering or underground markets like Silk Road, and may be unable to gain the trust and confidence of the general public.
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This may all seem a bit unreal and intangible, but it actually makes perfect sense. The Bitcoin network is built up of miners, who are invested in keeping the currency secure and stable as they are paid in bitcoins and act as approvers of the blockchains through their activity. Like any online and computerized business, it can be subject to hacking and theft, just as your bank can.
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Once 21 million Bitcoins have been created, no more Bitcoins will ever be created. This, however, doesn’t mean that the Bitcoin world will come crashing down. Since besides awards for hashing, the Bitcoin protocol also provides transaction fees. Currently, these fees amount to only a small amount in comparison to the block reward of 12.5 Bitcoins; however, as Bitcoin rewards go down, the fees will likely increase.
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Bitcoin is a global craze. Even farmers, students, the older, housewives ... who are don’t know what is blockchain also buy bitcoin. Because there are so many new investors investing in it in the hope of making a big profit. But actually that is not investing that is gambling.  I do not prevent you investing to make money but invest wisely. Especially do not put all the property into bitcoin and cryptocurrency. Hope people do not blindly participate in this gamble.  Only foolish people will do that. Of course when we came to this business or put an investment of yourself we should be aware or know what we are going to do. We must study it very carefully and think a hundred times. Every business has always it's own risk. |
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Bitcointalk username: joan26
ETH add: 0x0176eb2510eE88b2F56c4c29645a08137f32Fafa
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Selling at the dip will only make it worst, Newbies thinks they are losing money. But they only losing USD value not the bitcoin itself, those panic sellers are just bandwagon that dont have any idea about bitcoin.
There are a lot of people around in crypto world who should set this page as their starting page at the Browser It's really funny to see how the market is influenced by emotions.
Don t trade if you can t handle youer emotions.
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Another factor contributing to a bitcoin boom in Japan: ultra-low interest rates from the deflation-battling central bank that has left investors scratching their heads for places to find returns on their cash.
While Japanese are generally considered risk-averse investors, they are also well-versed in the complexities of market trading, especially in foreign exchange.
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Bitcoin - and other decentralised cryptocurrencies - allow people to trade directly with each other, cutting out the need for a middleman which, in traditional commerce, is a bank.
And unsurprisingly, banks aren't happy about being made obsolete and - with help from governments - are trying to clamp down on cryptocurrencies after initially dismissing them out of hand.
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The main difference between bitcoin and bitcoin cash is the block size. A block is equivalent to a file storing data on approved transactions, which is uploaded and hooked to the previous file, and makes up the blockchain. Bitcoin's blocks hold 1 megabyte of data, while bitcoin cash holds 8 megabytes.
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I think basically, society needed an alternative to the regular financial system through which people could trade. When Satoshi Nakamoto invented Bitcoin peer-to-peer transaction system, society got the best alternative yet. Now, everyone can try his luck with day-trading, mining, etc. Important part is that today we have stabile digital currency that is used all over the world for transactions of all sorts. Most of the online traders use Bitcoin nowadays and even some of the biggest networks included Bitcoin as a valid method of payment, such as Microsoft, Amazon, etc.
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Bitcoin is not quite the same in that it doesn't pay dividends, but the key point is the same: potential. People believe that there is a chance it becomes useful as a currency, and by that time the price will have already risen by a lot, so they buy bitcoins hoping that they will increase in value.
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Huge settle in the price of bitcoin these days. Some people says that it will goes on decreasing. If so, How do you mange your profits?
How will you react?
Do you sell it at loss?
What will be your next step?
Debiting your money from bitcoin & invest it in other crypto.
Or you find other alternatives.
What will be the choices of alternatives?
My strategy if price of bitcoin goes decreasing, is to hold it until the market price comes back and to gain some profit of it. The best tool here is patience. Without patience all you can do is to sell and cut the losses. |
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Btctalk name: joan26
Rank: member
Current post count: 265
BTC Address: 33WpC6JN8D2v5Aos2vxHstTrAJtYs4VEeX
Wear appropriate signature: yes
Wear avatar
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Can bitcoins be converted into cash?
Yes of course. Bitcoin can be converted into your own fiat, it just depends on what country are you in and what is your options available there. You can use google to search for the right one that fits to your needs. And read some articles and review about what you are choosing to use. |
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Today, many people use Bitcoin for investment purposes. There are a lot of people who have paid with Bitcoin before, what do you think about this?
I used my bitcoins buying mobile loads and paying my monthly bills. And I'm also looking forward to expense it in other online stores that offers general merchandise, it's so easy and friendly to use bitcoins as payments unlike other method that there's so many restrictions. |
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