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Author Topic: WHAT IS THE IMPORTANCE OF BITCOIN AND THE FUTURE BEHIND IT!!  (Read 50 times)
atenistaccc
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July 31, 2018, 06:04:35 PM
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Bitcoin today is the most popular crypto currency on virtual world... and most of the time it is the most convenient currency to use globally without having any issues when regards to transaction fee's, time, and effort.
It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.


Hope you Enjoy reading this!!!
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July 31, 2018, 06:35:51 PM
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Bitcoin today is the most popular crypto currency on virtual world... and most of the time it is the most convenient currency to use globally without having any issues when regards to transaction fee's, time, and effort.
It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.


Hope you Enjoy reading this!!!
Merit this Post for more informative articles....  Cool Smiley
I can find hundreds of such articles on the internet, I just need to type "what is bitcoin and what is the use"?
whether you make this up yourself or you search it on the internet then paste it here...  Grin
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July 31, 2018, 06:45:07 PM
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Someone sent this to me the other day.

Quote
Do you know what "hard money" is?

Hard money is a good that serves as money and cannot produced easily in big quantities. First, money has three functions:

1. Medium of Exchange
2. Store of Value
3. Unit of Account

To achieve the first it must be salable across time and space and it must be accepted.

For the second point it must hold its value for a extended period of time.

And for the third it must be divisible.

Fiat-money has 1. and 3. but lacks the Store-of-Value aspect.

Why?

Because fiat-currencies have a low Stock-to-Flow ratio.

Let me explain this ratio...

"stock" is the ammount of the monetary good that is already in circulation and it involves the whole amount that ever was produced.

"flow" refers to new units of this good that are or will be produced.

So, if a good has a low stock-to-flow ratio it means that new units of this monetary good can be produced easily and if a monetary good has a high stock-to-flow ratio - it means that new units can't be produced easily. The higher the stock-to-flow ratio the higher the quality of a Store-of-Value, the "harder" the money.

For example, in ancient times Seashells were used as money, the rarer they were the more valuable. Because of the high stock-to-flow ratio. Now industrialisation began and with modern Boots and steam engines and what not the seashells could be pulled out of the ocean in far more easily and in large quantities. The stock-to-flow ratio sunk and with it the use of Seashells as money. Seashells were superseded with something that was hard to produce. Monetary medals set in and Gold established its status as the leader, because it was indestructible and the rarest.

For centuries, every government currency was backed by Gold, this was turned over to finance World War 1, but that is another story.
Till this day, central Banks keep large reserves of Gold, because they know what they don't admit: hard money is far more valuable than "easy money".

Gold has a very high stock-to flow ratio because it is hard to produce. And it doesn't matter how much Gold they pull out of the earthcrust in one year it cannot rise by more than 2.6% on the flow side. Because there is so much Gold circulating around the globe, it was used as SoV for hundreds of years.

Now Bitcoin comes into play, BTC is the hardest money that was ever invented since the first ape turned to man (or however the evolution happened). It has a fixed supply (as opposed to Gold) and its flow-ratio halves every 4 years. That is the best Store-of-Value currency that exists and its stock-to-flow ratio is as high as it gets. Plus it is easy to transport, can't be seized by governments if stored properly and can be transferred far more easier than Gold.

Don't let anyone fool you by saying "BTC has no intrinsic value", it has. And now you know why.

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July 31, 2018, 07:02:50 PM
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In my opinion, the importance of bitcoin that is its technology, this technology is the innovation for people which will help us make information safe and transparent
About the future behind Bitcoin, i think it have a good future, Crypto will be applied a lots in people life, make our life easiler, safer,... and the most important I think it will be used in the 4th Revolution Smiley
atenistaccc
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July 31, 2018, 07:07:51 PM
 #5

Bitcoin today is the most popular crypto currency on virtual world... and most of the time it is the most convenient currency to use globally without having any issues when regards to transaction fee's, time, and effort.
It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.


Hope you Enjoy reading this!!!
Merit this Post for more informative articles....  Cool Smiley
I can find hundreds of such articles on the internet, I just need to type "what is bitcoin and what is the use"?
whether you make this up yourself or you search it on the internet then paste it here...  Grin
We all know what is the importance of it... even thousand of articles. but the main concept of this article i wrote is the Future relies on it... does anybody know about the future of BITCOIN? that is why i Included it on this article... that Future is not a copy paste... i wrote it on my own understanding the relies with the event and experience... HOPE you understand what i mean dude..
oseikuf44
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July 31, 2018, 07:15:09 PM
 #6

Even if bitcoins becomes a mainstream currency accepted by governments as a legal currency ,I don't think fiat /paper currency will be abolished or become obsolete. It will operate in addition with bitcoins. Bitcoins is important but cant be oversubscribe by fiat in the future.

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atenistaccc
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July 31, 2018, 08:00:50 PM
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Even if bitcoins becomes a mainstream currency accepted by governments as a legal currency ,I don't think fiat /paper currency will be abolished or become obsolete. It will operate in addition with bitcoins. Bitcoins is important but cant be oversubscribe by fiat in the future.

Yeah you're right unless all will use it...
mensahkkofie
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July 31, 2018, 08:53:54 PM
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There are several importance of bitcoin such as how secure it is and the ease at which it can be transferred from one unique address to the other. Bitcoin is the future currency of the world.

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July 31, 2018, 09:03:10 PM
 #9

The purpose of Bitcoin's creation was already great..Be a worldwide payment instrument..He did it too..But recently Bitcoin has started to be seen as an investment vehicle..This causes too much manipulation.

atenistaccc
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July 31, 2018, 09:14:33 PM
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The purpose of Bitcoin's creation was already great..Be a worldwide payment instrument..He did it too..But recently Bitcoin has started to be seen as an investment vehicle..This causes too much manipulation.

Do you think Bitcoin Markets today are Manipulated?
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July 31, 2018, 09:46:47 PM
 #11

Bitcoin today is the most popular crypto currency on virtual world... and most of the time it is the most convenient currency to use globally without having any issues when regards to transaction fee's, time, and effort.
It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.


Hope you Enjoy reading this!!!
Agree with you.
Bitcoin is the future not only of the economy, but the technology of blockchain will be used in other spheres of life.
The fact that the digital currency is widely used around the world as a trading asset or a means of payment proves its usability and growing predominance. For those wishing to advance in the financial world, bitcoin is a suitable solution. It is also a solution for those who live in countries with weak economies.
I am sure that in the near future the bitcoin rate will grow and now is the best time to buy bitcoin and other crypto currency.
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July 31, 2018, 09:51:41 PM
 #12

There are several importance of bitcoin such as how secure it is and the ease at which it can be transferred from one unique address to the other. Bitcoin is the future currency of the world.
This is what I like most as cryptocurrency of bitcoin easy to use and can transfer payment without hassle. The importance of bitcoin is really helpful where we can use a store of value and as medium of payment. It's attract users to have bitcoin easy to use.

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August 02, 2018, 09:37:49 PM
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The emergence of Bitcoin has sparked a debate about its future and that of other cryptocurrencies. Despite Bitcoin’s recent issues, its success since its 2009 launch has inspired the creation of alternative cryptocurrencies such as Litecoin, Ripple and MintChip. A cryptocurrency that aspires to become part of the mainstream financial system would have to satisfy very divergent criteria. While that possibility looks remote, there is little doubt that Bitcoin’s success or failure in dealing with the challenges it faces may determine the fortunes of other cryptocurrencies in the years ahead.

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