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If everyone around the world gets into cryptocurrency, do you think it will even help in solving or lessen socioeconomic problems? Can it be used to buy goods from other countries? It is fair to say that crypto will help a lot of people but what will it do to one's country? Will it help improve a country's economy?
Bitcoin solved a number of problems across technological, social and economic dimensions. Technologically, Bitcoin introduced a novel and effective way to address a few serious and critical weakness in using computer systems to act as a monetary system. These are - that computer systems allow (by design) the ability to copy and paste (duplicate / counterfeit) digital / electronic monetary units in an unregulated way - computing operates at the speed of light, and thus could be used to re-use / spend the same unit of money multiple times across different transactions (the double spend problem), as well as not follow through on an agreed transaction (the Byzantine General’s dilemma) Socially, Bitcoin is offered as an open source solution, incentivising people to try, learn and use the underlying technology to develop and build their own alternative system (or simply clone the original). This model ensures that there will always be demand and interest in the system. Economically, Bitcoin was cleverly designed to operate as a deflationary precious commodity / asset. It was designed to simulate the finite quantity of precious metals (like Gold) by setting an absolute maximum amount of 21 million bitcoin units. There is also a mining reward mechanism - a payment in bitcoin - designed to generate rewards to active participants approximately every 10 minutes, with reward quantities halfing at pre-defined intervals. This approach ensures economic predictability of the bitcoin asset, and creates deflationary incentives for people to own and hold Bitcoins (since they should be worth more over time), thus also rewarding long term participation in the Bitcoin ecosystem over time. Others have answered the question and outlined some specific real world problems and use cases that Bitcoin has been used for, so I won’t go into detail about how it’s used. |
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The most effective way to lower your risk is to do more research.
I think the same as you. The most effective way to reduce risk is to do more research |
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Poverty, legal identity etc. are major concerns in the third-world countries. Data says one-third of children in the world still lack legal identity (sourced from Informationweek). Poverty and lack of food still kill thousands of people. Can Blockchain put an end to all this?
It can reduce the cost of intermediaries in certain cases, but you would still need someone to enforce what is said in the blockchain. For instance, if you put information regarding a property of yours in the blockchain, just because it says so in the blockchain, it doesn't magically put a barrier in your physical property that stops people from entering. So you still need a government to enforce violence upon thieves to protect your private property, or at least some sort of private security. You can think many examples like these. People that think blockchain will dis-intermediate everything and render governments completely useless are not being realistic in my book. Now what blockchain can do, at least a censorship resistance one like Bitcoin, is to protect your wealth from evil governments, to move value across the globe without permission etc, which is already an huge thing and insanely undervalued. I vote for answer of you. A answer very good |
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Bitcoin at the present time resembles as a bubble.Once it goes up, it immediately pops out. It is normal that the price of bitcoin gets down but it's been a long time since it is on its original value or higher than its real value. Those who invest these past few months are suffering a lot of loaaes and they are losing hope that bitcoin will continue to drastically decrease in value. Do you have guys some advice for me? It will be really appreciated and I will be eternal grateful.
It was normal in market to have up and down, and besides market was unpredictable you will cannot predict the value of it, but having a long down trend is one of the opportunity to have a coin you wanted to have you can buy them as long as you have a lot of money go shopping your favorite coin and don't depressed yourself it was not helpful. I think this is the best answer I've read. |
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Bitcoin is crypto-currency, it can't help them. Because People with disabilities receive only cash to cover their lives.
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While it is difficult to pin price drops on any specific event, experts and analysts have suggested the most recent fall in value can be attributed to a new study which suggests market manipulation was behind the 2017 bubble.
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One of the most important things about cryptocurrencies is to understand its purpose. Essentially, all transactions are a batter system. I’ll give you something I have for something you have. However, it takes too long to make complex trades, especially for less substantial goods like services. Imagine the headache in trying to buy a house with chicken eggs if that is your main source of income. cryptocurrencies makes every transaction faster and simpler.
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I think USD and bitcoin have a relationship. So if the USD has a problem then the bitcoin will also show signs of change
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Each of these booms—and, for that matter, most bubbles throughout history—has been driven by the same basic publicity-price feedback loop. As an Internet writer, I've seen this process first hand. During times when the price is rising, there's a lot of traffic to be had writing about bitcoin, so reporters like me write articles (like this one!) about it. The articles cause more people to pay attention to the currency, and some of those people decide to buy. That pushes the price up even more, triggering more media coverage and more public interest.
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Future of ethereum has 70% depend on bitcoin. if the bitcoin increase, drag in ethereum boost and reverse.
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Think of it like this: If a futures contract costs more than Bitcoin, you could buy Bitcoin, and sell a future contract at the same time, then, when the contract is up, you deliver the bitcoin for the agreed upon price and therefore profiting on the difference. This is called “cash and carry” arbitrage.
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Cryptocurrency determines the economics of the trader, so many people only spend time buying and selling Cryptocurrency and see it as their primary job.
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There are many guesses and absolutely no definite answers. One thing that is worth noting is that this is the 4th time BTC dropped by around 30% this year only, and each time it managed to rise for over 100%. So, this is by no means something that wasn’t to be expected. (Not that I suggest it will absolutely necessarily happen again, no one can say that for certain)
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Bitcoin is booming at the end of 2017 and it is possible that by the end of 2018 Bitcoin will again be strong.  |
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There are so many rich and rich meanings: thanks to money, rich in family happiness. It is important that we want to be rich.  |
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Altcoin will not be able to compare with bitcoin because bitcoin is the current hegemon, after bitcoin also has ETH and other currencies. The altcoin is old, it will not be worth the bitcoin. I still believe bitcoin.
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From a certain perspective, bitcoin can be a bubble. But this bubble brings a lot of benefits for everyone. People only remember bitcoin when its price is really high at the end of 2017 and bitcoin is gradually forgotten in mid-2018 because the price has fallen too far.
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Show in the current date field today 12/7 discount, even in the second days. You should check to add at bitcoinwisdom
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Good Idea. Wish you success in the future. Please refer to me.  |
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I'm a trader, a fans of cryptocurrency bitcoin. I believe Bitcoin will not lost position in the market. Bitcoin is number one after ETH is number two. 2 Cryptocurrency very good in the present
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