Latest posts of: Rebecca Bragaa

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Bitcoin has made big changes to Southeast Asian and governments of these countries have been discussing problems about Bitcoin. Each country has differrent policy for Bitcoin and not all of Southeast Asian agree on a general solution. Thus, Bitcoin may be legal in some country of this area but not all of the countries. For example, Thailand has accepted Bitcoin but Vietnam hasn't.

Bitcoin-related fake news is the factor cause Bitcoin price to swing. More and more waving investors are flocking to invest in Bitcoin. Not anyone knows what Bitcoin really is and what it is for. So they fail to realize what is a true news, what is trash and fake news. Plus, the number of waving investors and newbies is not small. As a result, the fake news are quickly spreaded and followed. The price of Bitcoin, accordingly greatly fluctuate.

You need to clear their mind about Bitcoin. It's only illegal in some countries which introduce the Bitcoin ban.Those nations haven't found right way to treat Bitcoin so they temporarily ban Bitcoin for fear of rising in illicit activities facilitated by Bitcoin. But Bitcoin can be used for various good purposes, not only for criminal activities. For example, Bitcoin speeds up money transference, and make it easier for international transactions. Also, Bitcoin is a profitable investment. That's what I think I'll say to my friend if I'm in your situation.

I don't think that considering Bitcoin as an investment causes obstacles to Bitcoin development. If Bitcoin weren't invested by lots of people, it would still urge governments to lay legal grounds for it and impose regulations on it. Why? Because it is a new method to transfer money and has great impact on their economy as well as social security (Bitcoin is taken advantage for money laundering and buying weapons by criminals).

It's far from being possible that Bitcoin will be a danger to national currencies. I think the two can coexist, not compete. Bitcoin is a new kind of money which is suitable for e-commerce, international money transference. But national currency has its own advantages. Sometimes, national currency shows that how strong the economy of a nation is.

The problem is how you determine the perfect timing to buy and sell. If you're able to determine the perfect timing, it's never too late. Bitcoin is just in its early stage, meaning that it has lots of potentials that yet to be unlocked. Research thoroughly about it before you decide to dip your toes into the virtual water!

I agree with you that Bitcoin has many shortcomings because it's in its infancy stage and problems are unavoidable. But I don't think problems you mentioned are key reasons for Bitcoin high volatility since those problems also happen to fiat and other assets, not Bitcoin. Take scammers as an example. Didn't scammers happen until Bitcoin was created and traded? No. Scammers had happened even when Bitcoin wasn't created.

I don't think so. Decentralization is Bitcoin's unique feature. When it is called unique feature, how could it be changed? If Bitcoin changed its own characteristics, then it would not be cryptocurrency anymore.

One of the Bitcoin's unique features is decentralization, meaning that Bitcoin can't be controlled by any body. It's the reason why the body like you suggested can hardly be founded. In addition, those issues aren't big enough for a international body to be founded. You can discuss them in forum like this.

Yeah, Blockchain is far more advanced and potential. Although Blockchain is mostly known as the underlying technology of Bitcoin, now it has its own voice. It has gone beyond the financial assets like cryptos. The Blockchain technology should be the future technology. I expect it will be a major factor that promotes the 4.0 Revolution.

If Bitcoin can created such a spectacular reversal, then it can generate a more surprising downtrend. We shouldn't hope such a surge. Instead, a sustainable growth is better.
To answer your question, I think the scenario of sudden peak like that is impossible 'cause the signals are unclear and not very optimistic.

Yeah, but first I think they should legitimize Bitcoin. I mean they need to determine whether Bitcoin is a an asset or anything else in their country, and then impose regulations for it.

No, not until Bitcoin can replace all fiat money. And that Bitcoin replaces all fiat money is far from being possible. There are many reasons for that. Bitcoin doesn't recieve all advocation, so there will be big argue between two sides : supporter and opponents. Also, Bitcoin is just in the early stage and it has many imperfections to improve.

Bitcoin is highly volatile. They will go into big trouble if they allow such fluctuant asset to be a deposit, especially when this period is a downfall of Bitcoin.

In fact, people know Bitcoin mostly because of its reputaion for generating profit. Without this, Bitcoin could not have been that famous. However, I agree with you we should use Bitcoin as a medium of exchange so that this electronic money can bring real value.

As far as I know, Blockchain may be used to facilitate digital voting in the future because of its high security, which is needed for online voting. Using the blockchain, a voter could check that her or his vote was successfully transmitted while remaining anonymous to the rest of the world.
As for Bitcoin, it makes transaction simpler, faster, cheaper, and more convenient.