K
King-Kong
Guest
Is their anyone that understands this and can explain how it works simply?
So you dont own any?I personally hate intangibles, but here's a full library of info on this topic if you so desire to learn.
how does bitcoin work for dummies - Bing
no, I do not. No regulations around it for one thing.So you dont own any?
Yes, that is 100% correct and if invested wisely, any individual will earn a nice amount on that investment!Digital currency ( can literally be set up by anyone)
Subject to very very high volatility
Not accepted by reserve bank
Only invest if you have money to lose
Yea I’m not sure about that “invest wisely”Yes, that is 100% correct and if invested wisely, any individual will earn a nice amount on that investment!
It is true though that regarding cryptocurrency that IF you do not know what you are doing, you can lose some money! Now, I say "some" because over the years, bitcoin and some of the other altcoins have lost a lot of money over the years and the MOST that Bitcoin has lost in one year was 60% and then you had some, who are beginners in the market, felt that they should sell or get out of the market entirely! The BIGGEST mistake that anyone can make in crypto is this, when the market has a massive dip like Bitcoin has like I was stating when it lost 60%, bitcoin rose back to even and more than 80% gain! Then, the very next day after that, Bitcoin went up another 80%, which that was due to the "Halving" process, which many earned thousands or more at the time two days after the big Bitcoin dip, so you always stay in the market!Yea I’m not sure about that “invest wisely”
It speculation at best . They are many digital currencies currently
Money is mostly made from time in the market not timing the market and of course a need for the product
The volatility is a big concern .
Elon musk doesn’t like it , it tanks
If the same happened to the US dollar the country would be trouble
Can you imagine Kanye saying this $100 dollar bill sux and the US dollar losing value? It would be disasterous
Once the country’s reserve bank or the IMF flags acceptance it will create stable value
Like your last point. As a second year teacher I don't have it to lose.Digital currency ( can literally be set up by anyone)
Subject to very very high volatility
Not accepted by reserve bank
Only invest if you have money to lose
Its basically 21st Century wampum.Is their anyone that understands this and can explain how it works simply?
One of the selling points with cryptocurrencies is that it is untraceable. The recent ransomware attacks have clearly demonstrated that this is not the case. Most of the 30 million or in Bitcoin was recovered in less than 10 days. As to cryptocurrency being unbreakable by quantum computers I would disagree. The financial resource advisors I use feel that no cryptocurrency in invulnerable to a quantum computer hacking it, unless the cryptocurrency ID generated by a quantum computer. That Bitcoin is a better "store of value" than metals is almost laughable. The only major players that are investing in Bitcoin are looking for a quick score. Elon Musk clearly demonstrated that when he waffled on accepting Bitcoin for payment of Tesla's. Did you notice how Bitcoin dropped when he said he was unloading some of his Bitcoin? I wish I would have had a couple of hundred thousand when it became legal to own gold and it sold for $35.00 an ounce. But you buy your cryptocurrency and I will buy gold, silver and platinum. Metal is always a good investment. Good money can even be made from iron and copper if you buy it at the right time and have a place to store irBy the way, for those that love or ADDICTED to gold (for some reason), Bitcoin has been compared to gold and plenty billionaires would prefer Bitcoin OVER Gold because Bitcoin is a better "store of value"! By the way, Quantum computing CANNOT break cryptocurrencies, period, just to let the crypto beginners know! Better yet, this article explains it perfectly well especially the last paragraph:
Here’s Why Quantum Computing Will Not Break Cryptocurrencies (forbes.com)
Billionaire Mark Cuban Says Bitcoin Is ‘Better Than Gold’ | Cryptoglobe
No, cryptocurrency CAN be traceable! I know that, for sure, because whenever I need to look up anything monetarily on the Blockchain, I can find it! It's very simple because it is public! You see, the only cryptocurrency that isn't traceable would be if the particular coin using technology that is exclusively private such as Monero! Just depends on if it's what we call: a privacy coin! Yes, you are correct that Bitcoin went down after Elon Musk stated what he said, BUT you may not know this, but Bitcoin was increasing back then BEFORE Elon Musk even was interested in Bitcoin, so the crypto market isn't really dictated on what a Rich individual does because the MAIN thing that caused Bitcoin to drop further is because of what is happening in China pertaining to the miners! But, I will state this though, when the upgrade for Bitcoin is added, Bitcoin will explode because of the Taproot upgrade! Many do not know what the Taproot upgrade is as well as the actual date when that will occur! The financial advisors?? They are clueless when it comes to cryptocurrency! I would BET you that they weren't even using cryptocurrency, or Bitcoin for that matter, when it was invented back in 2009! I know more about it than they do as well as the various upgrades that happen to various coin's blockchains, and I had to know that information because my profession started using crypto back in 2009 back when they were offering Airdrops for Bitcoin! Lol, yep, way back in the day, hehe! I wish that I would have accepted the free Airdrop that some crypto owners were offering back then! 1000 BTC at 0.001 back then whereas NOW? Goodness, I would have been sitting on at least $100-200 million dollars or more like my other business partner, who accepted the Airdrop offer! By the way, Ethereum will jump back too also because it has an upgrade in its code that will take affect next month! Something that not very many who like Bitcoin even know anything about! Oh, yes, I will keep buying cryptocurrency like Mark Cuban, Ray Dalio, Michael Saylor, and etc. And, crypto is the future as well too just ask Michael Saylor and the billionaire Marc Lasry who stated this: "He regrets not buying MORE Bitcoin!"One of the selling points with cryptocurrencies is that it is untraceable. The recent ransomware attacks have clearly demonstrated that this is not the case. Most of the 30 million or in Bitcoin was recovered in less than 10 days. As to cryptocurrency being unbreakable by quantum computers I would disagree. The financial resource advisors I use feel that no cryptocurrency in invulnerable to a quantum computer hacking it, unless the cryptocurrency ID generated by a quantum computer. That Bitcoin is a better "store of value" than metals is almost laughable. The only major players that are investing in Bitcoin are looking for a quick score. Elon Musk clearly demonstrated that when he waffled on accepting Bitcoin for payment of Tesla's. Did you notice how Bitcoin dropped when he said he was unloading some of his Bitcoin? I wish I would have had a couple of hundred thousand when it became legal to own gold and it sold for $35.00 an ounce. But you buy your cryptocurrency and I will buy gold, silver and platinum. Metal is always a good investment. Good money can even be made from iron and copper if you buy it at the right time and have a place to store ir