bitcoin worth investing into?
- Thread starter ocean
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you like it or not crypto curency is here to stay.will be corrections and its good for the business.for the past few years I have been involved semi full time and I have done extreamly well.it is a very valatile market you have to know what to do.this year crypto will be much stranger than ever.be careful and do your home work not all the cons will do well.if you are intrested choose the coins with good applications and don't nvest a big amount.
good luck
good luck
I think Blockchain will revolutionize the banking system. But I have no trust and confidence on crypto-currency. Could be wrong but adding money in a system without producing any goods or services does not bring any value other then speculation. I may simplify things but that's the way I like it.
Cheers,
Cheers,
the math and cryptography behind cryptocurrencies is often pretty solid. If you have large amounts of child pornography, Asian/Russian women, illegal weapons or cocaine to sell, I say go for it! Just choose the right one... If you are an investor, just be aware of what you are actually investing in...
think about it... there are 2 markets for cryptocurrencies:
1: speculators who want to buy at $100 and sell at $20,000
2: people who want untraceable, untaxable cash
honestly, now is the time to invest, but just be aware that the hammer will eventually come down... Who will swing the hammer is unknown at this time...
think about it... there are 2 markets for cryptocurrencies:
1: speculators who want to buy at $100 and sell at $20,000
2: people who want untraceable, untaxable cash
honestly, now is the time to invest, but just be aware that the hammer will eventually come down... Who will swing the hammer is unknown at this time...
2015-04-13 $ 240 / bitcoin
2017-04-01 around $ 1 000
2017-12-18 almost $20 000 / bitcoin peak record
2018-06-01 $ 8 463
2018-04-09 $ 6 983
2018-09-01 $ 6 715
2018-11-15 $ 6 131
Take a look at this chart https://99bitcoins.com/price-chart-history/
You get the value vs what happened and then make up your mind.
2017-04-01 around $ 1 000
2017-12-18 almost $20 000 / bitcoin peak record
2018-06-01 $ 8 463
2018-04-09 $ 6 983
2018-09-01 $ 6 715
2018-11-15 $ 6 131
Take a look at this chart https://99bitcoins.com/price-chart-history/
You get the value vs what happened and then make up your mind.
A positive point of view on cryptocurrencies, but on long term... and not all will survive.
https://www.cnn.com/2018/11/20/inve...ail&utm_term=0_c58d95e6d3-e9a5a06681-91110105
The conclusion is striking "Things will get much worse before they get better. That is okay. Remember, bear markets get rid of the tourists so that the true entrepreneurs can focus on building sustainable value,"
Maybe I should put a little money, say less than a $1000, for each of my grand children in a cryptocurrency with instructions not to exchange it before 2040. It would be purely speculative for the moment. Let's find out the true entrepreneurs before... Up to now my position is the one of Warren Buffet. Don't invest in something you don't understand. And for me it is still an unicorn's world.
https://www.cnn.com/2018/11/20/inve...ail&utm_term=0_c58d95e6d3-e9a5a06681-91110105
The conclusion is striking "Things will get much worse before they get better. That is okay. Remember, bear markets get rid of the tourists so that the true entrepreneurs can focus on building sustainable value,"
Maybe I should put a little money, say less than a $1000, for each of my grand children in a cryptocurrency with instructions not to exchange it before 2040. It would be purely speculative for the moment. Let's find out the true entrepreneurs before... Up to now my position is the one of Warren Buffet. Don't invest in something you don't understand. And for me it is still an unicorn's world.
The people behind bitcoin can punch up as many bitcoins as they want with a few clicks on a computer. One day they will fold up shop.
You are misleading merb. I suggest that you inform yourself before commenting on something about which you obviously have no idea.
Maybe you can enlighten us on the matter. Where and how is bitcoin backed and guaranteed?
>> The people behind bitcoin can punch up as many bitcoins as they want with a few clicks on a computer.
The algorithm used to generate bitcoin involves the solution of a mathematics problem which was successfully designed to become progressively more difficult as the number of bitcoins approaches the predetermined limit of 21 million. (17 million have already been created.) Generating bitcoin now requires expensive, specially optimized computer hardware and lots of electricity. In fact, unless you have some way of generating electricity at a fraction of what Hydro Quebec currently charges, your electric bills alone (never mind hardware purchase and maintenance, storage space etc.) would exceed the market value of the bitcoin produced at present.
>>One day they will fold up shop.
There is no individual or organization with that capability. There are thousands of computers which each maintain a record (blockchain) of every bitcoin transaction. One would have to hack those thousands of computers simultaneously to alter those records.
>>Where and how is bitcoin backed and guaranteed?
Since the mid 1980s, Venezuelan currency has been devalued by a factor of more than a billion. Bitcoin is also a currency - a medium of exchange. Like the Bolivar, it will be worth nothing if nobody wants it. Canadian Tire money will be worth nothing if that company closed its doors tomorrow. In the case of bitcoin, there is no company to go out of business, but it would be destroyed if somebody finds a way to destroy the internet.
Nobody backs it against gold or any other commodity. However, the same is true of the US dollar, which went off the gold standard almost 100 years ago. It's a lot easier and cheaper for the US government to print paper dollars than it is to generate bitcoin. Unlike the US which can and does create money rather freely, the total number of bitcoins is limited by the algorithm which generates them, so, while someday it may suffer the fate of the Bolivar, it won't be because too many are in circulation.
The algorithm used to generate bitcoin involves the solution of a mathematics problem which was successfully designed to become progressively more difficult as the number of bitcoins approaches the predetermined limit of 21 million. (17 million have already been created.) Generating bitcoin now requires expensive, specially optimized computer hardware and lots of electricity. In fact, unless you have some way of generating electricity at a fraction of what Hydro Quebec currently charges, your electric bills alone (never mind hardware purchase and maintenance, storage space etc.) would exceed the market value of the bitcoin produced at present.
>>One day they will fold up shop.
There is no individual or organization with that capability. There are thousands of computers which each maintain a record (blockchain) of every bitcoin transaction. One would have to hack those thousands of computers simultaneously to alter those records.
>>Where and how is bitcoin backed and guaranteed?
Since the mid 1980s, Venezuelan currency has been devalued by a factor of more than a billion. Bitcoin is also a currency - a medium of exchange. Like the Bolivar, it will be worth nothing if nobody wants it. Canadian Tire money will be worth nothing if that company closed its doors tomorrow. In the case of bitcoin, there is no company to go out of business, but it would be destroyed if somebody finds a way to destroy the internet.
Nobody backs it against gold or any other commodity. However, the same is true of the US dollar, which went off the gold standard almost 100 years ago. It's a lot easier and cheaper for the US government to print paper dollars than it is to generate bitcoin. Unlike the US which can and does create money rather freely, the total number of bitcoins is limited by the algorithm which generates them, so, while someday it may suffer the fate of the Bolivar, it won't be because too many are in circulation.
Ernst - it *isn't* backed and guaranteed. That's part of the whole point. Bitcoin was made by people who distrust fiat money. It is basically a computer re-invention of the gold standard. Bitcoin can only be created by a specific algorithm. Basically, you have to solve a puzzle to create a new coin. (That's a gross simplification, but good enough.) That algorithm isn't under anyone's control, it is inexorable math. Therefore you can't just make more whenever you want. This is, incidentally, why it would be kind of terrible as an actual currency.
As far as its actual utility... it doesn't really have much. It is like using gold or using trading cards or some other specific thing as your money. It works as an asset as long as people believe it has worth as an asset. It is electronic so that has some convenience over lugging bricks of gold around. There will always be people who prefer to use other assets instead of fiat money. So it lives in that niche.
The fact the ledger is public is basically the only guarantee. The idea is that you don't need a third party to back it or verify trust because it is all public math. So it isn't backed or guaranteed. You either trust the math or you don't.
It may be condescending, but I have seen a number of people buy into crypto because it was the new hotness and was going to make them rich quick. But crypto investment process should be slow to be profitable. To earn on Bitcoin, it's important to do a lot of Cryptocurrency and Bitcoin Tracking
It is a long shot but if the P vs NP problem is solved bitcoin and all the other digital currency are screwed. Yet this problem is many years away from ever be proved or disproved.
LOL. The real money being made is creating these crypto currencies and selling them as an ICO. Not buying them as 80% of these digital assets are crap.
LOL. The real money being made is creating these crypto currencies and selling them as an ICO. Not buying them as 80% of these digital assets are crap.
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