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To be frank our local banks are scared over the operation of bitcoin. They may be indecisive over adoption of blockchain or reframing from it. Adoption is the best option for them.
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In general media tend to be very comfortable in spreading bad news than good news. Take time to observe the news 60% are always news of one natural disaster or another, so anything good may not come from media until bitcoin gain wide acceptance.
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BCT profile link: https://bitcointalk.org/index.php?action=profile;u=2230869facebook link: https://web.facebook.com/kingchacha.sundaylinkedIn link: https://www.linkedin.com/in/ubong-sunday-01a68b167/Bitcointalk username: KINGCHACHA1 campaign: facebook and linkedIn facebook link: https://web.facebook.com/kingchacha.sundayWeek 6 (12-18 Aug) Like and share: 1. https://www.facebook.com/kingchacha.sunday/posts/11170894784389122. https://www.facebook.com/kingchacha.sunday/posts/11214448180033783. https://www.facebook.com/kingchacha.sunday/posts/11214445780034024. https://www.facebook.com/kingchacha.sunday/posts/1122403224574204Post: 1. https://www.facebook.com/kingchacha.sunday/posts/1121458868001973,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, linkedIn link: https://www.linkedin.com/in/ubong-sunday-01a68b167/Like and share link: 1. https://www.linkedin.com/feed/update/urn:li:activity:64362161363580395522. https://www.linkedin.com/feed/update/urn:li:activity:6436216027809443840post link: 1. https://www.linkedin.com/feed/update/urn:li:activity:6436551298165903360 |
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After a proper study of the cryptocurrency market I have concluded that bitcoin and ethereum can never appreciate as high as 100-500% within a limited time frame it is only pump and dump coin that appreciate that way. When a coin appreciate that high be careful else you will less when it will being dumped.
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Blockchain is a buzz word that seems to dominate much of the crypto economy nowadays. It's like the bread and butter of every crypto-related project.
And in bid to help non-crypto experienced people around, why not we try to explain the advantages of blockchain in simple ways? I hope many of you will follow suit.
First off, among the many advantage of blockchain is the removal of the middleman that paved way to the so called peer-to-peer transaction (or payment). What's the simple explanation?
Traditionally, an online payment is done with the help of a bank that serves as a middleman. For Person A to pay Person B, the bank will receive the deposit from Person A and confirm the amount is available to Person B and records that transaction on their database in a centralized manner.
Blockchain disrupted this method by allowing Person A to transfer directly to Person B without a bank or payment gateway involved. But how does it work?
Simple, to confirm that the transaction proceeded and is valid, the transfer is broadcasted to the network (the so called miners) and is needed to be confirmed a number of times. Once confirmed, this particular record is saved network wide (which makes it decentralized). And this record could not be overturned by anyone, not Person A nor Person B, nor by a miner or a group of miners (that makes the blockchain immutable).
And these are few of the simple explanation i came up with. I believe that simplifying things from a very technical explanation will help build a stronger crypto community and a great boost to the crypto economy too.
I'm sure a lot of you have better ways of explaining the advantages of blockchain technology, it would be great to hear them.
We always think that there is no third party when it comes to blockchain financial transactions but from your explanation of how blockchain really operate it is like the miners still serve as third party just like our traditional banking system, the difference is that blockchain transaction is faster and miners cannot query your transaction except you do not have enough balance. |
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It takes a very strong taxation department of some countries to tax all physical businesses be it small scale or big scale. To be able to tax bitcoin owners effective and successfully will not be possible. Government should leave cryptocurrency alone.
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Anything mistake people make that keep them in poverty is to keep on complaining about their income being inadequate instead of sourcing for plan B source of income to supplement their major salary. Think big and work big.
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The best thing to do when you feel like bitcoin is going to crash just because of a little fluctuation in price is to go back and study the price of bitcoin from five years back and see the trend of things and also study where the price of bitcoin is coming from. this will build your confidence. Price fluctuation is it nature.
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Look at the way internet have reduce money use for printing books and magazines. The internet is of great benefit to humanity generally. Cryptocurrency will reduce the cost of producing fiat currency if Government allow it to function.
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Investment is anything that yields interest. Anything that is purchase or done with the aim of making profit in future be it long or short term profit is investment, so it is not wrong to call bitcoin investment. Bitcoin is a currency, an asset and a technology.
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