K
King-Kong
Guest
Is their anyone that understands this and can explain how it works simply?
Does anyone actually understand bitcoin?
We will see how it fly's in the long run. Until some major governments embraces it and there are some good reasons not to, Bitcoin is one panic away from being worthless. The internet is not secure, and you have well backed actors out there that spend a lot of time and resources to get your resources. I will stick with metals, precious stones, cash, and blue chip stocks. A while back North Korea almost succeeded is stealing a billion dollars from another country. Cryptocurrency and the internet are not very safe playgrounds
iirc BTC went from 5k to 10k to between 30k and 50k after tether hit exchanges, and a huge number of trades started happening where BTC was bought with tether rather than USD or other coins
tether is supposed to be a stablecoin pegged to the USD with a large reserve
tether is refusing to let anyone verify they actually have this reserve
crypto is gambling
tether is supposed to be a stablecoin pegged to the USD with a large reserve
tether is refusing to let anyone verify they actually have this reserve
crypto is gambling
Oh, yes, we will definitely see how Bitcoin or crypto progresses though it is very enjoyable seeing all of the volatility in the market! Well, it sounds like El Salvador is interested in Bitcoin being classified as its LEGAL tender, so I am very excited about that! Oh yea, trust me when I tell you, Bitcoin will surpass every metal on the market, which is happening right now! Plus, cryptocurrency as a whole will NOT be worthless because Blockchain is a necessity that EVERY country will need because the technology is extremely important especially if you want the banking, voting, and money to be secure! I am so happy that you mentioned the internet because that is why BAT was created to make the internet completely secure as well as decentralized! George Gilder even predicted that in his book, "Life After Google", and the internet part is coming true! Wow, isn't that cool? If that particular country had Blockchain, a billion dollars WOULD NOT have been stolen though you will have those knuckleheads who are hard-headed and still doubt how effective the Blockchain is. So, yes, I have most of my money in crypto and the reason for that is because I completely understand cryptocurrency whereas the majority of people as well as Wall Street are STILL clueless about how crypto works!
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By the way, for those that are assuming they know what crypto is about, Bitcoin rose in price way before the Elon Musk, Ray Dalio, and others entered into the crypto industry! Now, the ACTUAL reason why Bitcoin rose in price is because of a particular coding known as: a halving, and whenever the "halving" happened, Bitcoin would RISE in price! The actual FACTS show that if you prefer to research the information on the Blockchain! If you DON'T know how to do that, then PLEASE feel free to ask me because I know PLENTY about crypto because I was there when Bitcoin was only 0.001 back in 2009! Oh yes, and for those that claim crypto is like gambling, well it's the individual who treats crypto as if it is like the STOCK market, which it isn't! So, if you REALLY want to see some serious gains in the cryptocurrency market, then I strongly suggest for the ROOKIES to HODL! If you don't believe me, a business partner, friend of mine in crypto, can prove that HODLing works since he has made over $300 million dollars in crypto and COUNTING! By the way, I say "counting" because after the TAPROOT UPGRADE, Bitcoin will increase in value!
By the way, check out my friend, Michael Saylor's excitement regarding Bitcoin:
Michael Saylor : Bitcoin Will Make You Millionaire In This Decade - YouTube
By the way, check out my friend, Michael Saylor's excitement regarding Bitcoin:
Michael Saylor : Bitcoin Will Make You Millionaire In This Decade - YouTube
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Crazy how random the topics on this site can be. Before you attempt to understand crypto and bitcoin, you should understand what our fiat currencies are and the evolution of them over time.
At the end of the day, currency is really a system of exchange where perceived value is assigned a note relative to commodities and other products. In the old days, think 1 pig for 10 chickens.
Modern fiat is backed by the full faith and credit of the issuing body, so its value is based on everyone AGREEING that those pieces of paper in your wallet have value beyond "faith" (hint, they dont). Cyrpto is the same, it is based on the faith of the system, more people trust in the code than the governments will increase its value as a means of exchange.
Super fun!!!
At the end of the day, currency is really a system of exchange where perceived value is assigned a note relative to commodities and other products. In the old days, think 1 pig for 10 chickens.
Modern fiat is backed by the full faith and credit of the issuing body, so its value is based on everyone AGREEING that those pieces of paper in your wallet have value beyond "faith" (hint, they dont). Cyrpto is the same, it is based on the faith of the system, more people trust in the code than the governments will increase its value as a means of exchange.
Super fun!!!
I dunno I think that's simplistic. Crypto is so early there's very little regulation. We're past the days when exchanges would get "hacked" every month and the owners would disappear to some remote island presumably with everyone's money, but now there are more sophisticated scams running (even outside of the shitcoins). Not to mention the technical issues (ETH takes like a year to clear a transaction, BTC uses more electricity than the entire nation of argentina, etc).
Tether especially seems like a giant ponzi scheme
Tether especially seems like a giant ponzi scheme
And I should mention that BTC's price is largely driven by Tether not actual USD transactions
Yes, @Mitsuro, you are correct 100%! I cannot wait when the Ethereum upgrade comes because that will do many things for the Ethereum blockchain and I cannot wait for the BTC upgrade this year as well that will make Bitcoin more secure than before! I have half of my income in crypto though most importantly, the other amount is inside DeFi because that feature of cryptocurrency will turn the banking industry upside and I want to be in front of the technology as the value increases daily monetarily!
I seem to not have trouble with transactions using the Ethereum blockchain though with so many entities being attached to the blockchain of Ethereum, it can become congested, which is another feature of the Eth 2.0 upgrade that will take care of that as a whole and make Ethereum 10x times faster and I am so excited about that! By the way, so many are still up in arms about Bitcoin using so much "so-called" energy or electricity when it consumes less than 10% of the energy compared to the energy consumption of the traditional banking system, which uses way more than Bitcoin!
I also hope others will be there for the upgrade to Bitcoin because the TAPROOT will increase the value of Bitcoin as well as making it more secure, so I am looking forward to that this year! Also, for those that aren't in the DeFi market, you are losing thousands and thousands DAILY by not being in one of the top DeFi coins in the technology! It would behoove you to get into that market ASAP, that is if you understand what DeFi is about and how to profit from it correctly because it also is VERY VOLATILE, which is what I love so much about decentralized technology!
I also hope others will be there for the upgrade to Bitcoin because the TAPROOT will increase the value of Bitcoin as well as making it more secure, so I am looking forward to that this year! Also, for those that aren't in the DeFi market, you are losing thousands and thousands DAILY by not being in one of the top DeFi coins in the technology! It would behoove you to get into that market ASAP, that is if you understand what DeFi is about and how to profit from it correctly because it also is VERY VOLATILE, which is what I love so much about decentralized technology!
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BTC averages around 200,000 transactions per day, VISA alone around 150,000,000 transactions a day.
So if BTC handled the same scale of transactions as just VISA, not even every credit card, not even every bank transfer, brokerage transaction, venmo, cash, etc, it would already by 75x the power used by current banking
it's a broken proof of concept. I'm not against crypto per se, but let's have proof of stake and regulation, rather than ponzi scheme the original proof of concept which was not designed to scale
With Bitcoin still rather in its infancy because it isn't to the amount of transactions that Visa handles on a daily basis, Bitcoin will be able to handle more transactions than that in the future, which is mostly the reason why the Taproot upgrade has been provided! Now, as for having proof of stake, bitcoin does not have that yet, but Ethereum does though! It's also one of the main reasons why so many crypto leaders, who have invented various coins, as well as the founder of Ethereum has stated that Ethereum will pass Bitcoin, which I could definitely see especially when you see what various technology alone is on the Ethereum blockchain, hence DeFi as well as NFTs! Regulation is fine for cryptocurrency though I just hope the government does it appropriately and not try to be make it hard for their citizens like China has done!
Overall, though, I am very glad that Satoshi invented BTC as well as the technology behind it and am even happier that altcoins are here as well! I am so much behind the crypto technology that I have the majority of my income inside and very little inside centralized banks! Thankfully, I have access to my own keys!
Open a Robinhood account and start trading, it's very volatile, so don't hold it for long. Just trade it's high/low and you can easily double or trouble your seed money. Hubby started trading it a years ago and he triple his seed money already. Very little regulation on digital currency trading, so you won't be subjected to day trade requirement and other restrictions.
Of course to some degree I understand some things about it, like how to use it, how to gain from it, how to make transactions from it, and other aspects of it it just sounds like something made up. Which like the dollar it actually is made up value
Yeah it's complicated as fuck for sure, but an extremely brilliant idea once you fully dive into what it is. Does take entirely too much free time and effort to completely comprehend though so i feel ya, god damn. If you ever have any specific questions about it just ask and i'll attempt to explain some of it. I've been dealing with it for like 10(?) years now so over time i've figured most all of it out (finally, lol)
SophieOcampo
Male
Essentially, Bitcoin is a digital currency that is decentralized, meaning it's not controlled by any central authority like a government or bank. Instead, transactions are recorded on a public ledger called the blockchain, which is maintained by a network of users around the world.
There are also companies and organizations, like https://fx2funding.com/ , that use advanced technologies to trade Bitcoin and other cryptocurrencies. These firms analyze market data and use algorithms to make trades in a fast and efficient way.
There are also companies and organizations, like https://fx2funding.com/ , that use advanced technologies to trade Bitcoin and other cryptocurrencies. These firms analyze market data and use algorithms to make trades in a fast and efficient way.
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Mining was a fun hobby for a while. I played with it a couple years ago...had three graphics cards churning away 24/7. It was making about $300 a month after the cost of electricity for a while. It was like I had a machine in my house printing money! With the change to Ethereum from proof of work to proof of stake, it stopped being profitable...at least instantaneously profitable...maybe if one wanted to mine and hold it would become worth something. I just shut down my mining rig since it was more of a learning experience than something I was trying to make money with.
LeeSaymon
Couple
Bitcoin is a decentralized digital currency that uses cryptography to secure and verify transactions as well as to control the creation of new units. The currency operates on a peer-to-peer network, meaning that transactions are directly processed between users without the need for a central authority, such as a bank or government.
Overall, Bitcoin operates on a highly secure and decentralized network, which allows for fast and low-cost transactions without the need for a central authority. However, the value of Bitcoin can be highly volatile and its adoption is still limited in some areas.
Overall, Bitcoin operates on a highly secure and decentralized network, which allows for fast and low-cost transactions without the need for a central authority. However, the value of Bitcoin can be highly volatile and its adoption is still limited in some areas.
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