K
King-Kong
Guest
Is their anyone that understands this and can explain how it works simply?
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 playgroundsNo, 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!"
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!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
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!Its a long-term investment. Now is a good time to buy bitcoin and etherium. Eth gets 2.0 update soon and will raise a lot. Invest 5% of your money in these coins, and you will be rich enough
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!
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!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
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
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.Bitcoin is a form of digital currency that is decentralized, meaning it is not issued or controlled by a central authority. You can buy and sell Bitcoin on various exchanges and use it to buy goods and services. There are also other ways to get involved with Bitcoin, such as through mining, trading, or investing.