Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: CoinMany6 on December 12, 2022, 04:05:48 AM
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What is Bitcoin?
Bitcoin is a decentralized cryptocurrency and an innovative payment network. It’s free of central banks and provides a peer-to-peer network to transfer money. Every transaction is transparent and immutable. Investors use Bitcoin as a means of exchange as well as a store of value to hedge against inflation.
Who gave birth to Bitcoin? Satoshi Nakamoto, the anonymous name of the creator of Bitcoin. Satoshi began to think of a new currency when he saw central banks publish cash which caused inflation during the economic crisis. Fiat could be of less value due to inflation and people couldn’t do anything. He created Bitcoin with the purpose to provide an alternative payment method without the control of the central government.
How does Bitcoin mining work?
What is Bitcoin mining? Bitcoin mining is the process of getting new Bitcoin. It also confirms the transactions in the network running in Bitcoin code and sync to all nodes on the chain. ‘Mining’ is performed on a computer for hash operations. The first computer to find the solution to complex math puzzles will get the right for the next block and this happens every 10 minutes. The ability to find the solution depends on the portion of the network’s total mining power.
The supply of Bitcoin is limited and the total supply is 21 million. The current Bitcoin is 19.2 million. The Bitcoin quantity will be reduced by 50% every time it reaches 210000 blocks or reduced once every four years by design.
What determines Bitcoin’s price?
Since its birth, Bitcoin has had volatile prices due to many factors. Unlike fiat, Bitcoin is not issued by the government or bank therefore monetary policy, inflation rate, or financial measurement don’t influence its price. Bitcoin acts more like a commodity. The price is influenced heavily by supply and demand. It depends on how many coins are in circulation and how many people are willing to buy.
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Bitcoin is a virtual currency. Which ranks first in the cryptocurrency world. It cannot be held or touched, only certain amounts of it can be seen by you. It is a digital currency that you can invest in if you want, you can hold bitcoins if you want. Bitcoin's value fluctuates over time. It was created by Satoshi Nakamate in 2009. It is currently valued at $43,000 in 2024. It peaked around 2021 when it was valued at $69,000.
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Additionally, something about else about bitcoin is that it's all inclusive in the sense that anyone anywhere in the world with internet access can have access and make use of it for all transactions. And with it's anonymity in nature you are confident of your privacy being intact and safe away from a third party unlike what is obtained with the traditional banking system. Etc.
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Bitcoin operates on a decentralized network of computers, known as nodes, which use blockchain technology to record and verify transactions. The blockchain is a distributed ledger that contains a chronological record of all transactions ever made on the network. Each block in the blockchain contains a batch of transactions, cryptographically linked to the previous block, forming a chain of blocks.
Key features of Bitcoin include:
Decentralization: Bitcoin operates without a central authority or single administrator. It is maintained by a network of nodes that validate and record transactions, ensuring the security and integrity of the network.
Limited Supply: The total supply of Bitcoin is capped at 21 million coins, making it a deflationary asset. This scarcity is designed to mimic the scarcity of precious metals like gold and can potentially increase the value of Bitcoin over time.
Peer-to-Peer Transactions: Bitcoin enables peer-to-peer transactions without the need for intermediaries such as banks or payment processors. Users can send and receive Bitcoins directly to and from each other, anywhere in the world, quickly and with low transaction fees.
Security: Bitcoin transactions are secured using cryptographic techniques. Each transaction is verified by multiple nodes on the network and added to the blockchain through a process called mining, which involves solving complex mathematical puzzles.
Pseudonymity: While Bitcoin transactions are transparent and recorded on the blockchain, the identities of the parties involved are often pseudonymous. Users are identified by cryptographic addresses rather than personal information.
Bitcoin has gained widespread adoption as a digital currency and store of value, attracting investors, traders, and users worldwide. It has also inspired the creation of thousands of other cryptocurrencies, collectively known as altcoins, and has had a significant impact on the development of blockchain technology and the broader cryptocurrency ecosystem.
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Bitcoin is a digital precious currency that has a huge market value but has no real existence. Bitcoin is only a virtual coin and you will never notice its presence in real life. In 2009, this coin officially came to the market for the first time. Although this coin officially entered the market in 2009, people started to know about this coin since 2010. After 2009, since 2010 when people gradually got to know about this coin, its popularity and value gradually increased. It goes without saying that in 2024, its popularity and value have increased significantly compared to 2009 and 2010. A large number of people now know about Bitcoin and a large number of people now invest in Bitcoin. As its popularity has gradually increased since the beginning, it is expected that its popularity will increase even more in the future.
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What determines Bitcoin’s price?
Since its birth, Bitcoin has had volatile prices due to many factors. Unlike fiat, Bitcoin is not issued by the government or bank therefore monetary policy, inflation rate, or financial measurement don’t influence its price. Bitcoin acts more like a commodity. The price is influenced heavily by supply and demand. It depends on how many coins are in circulation and how many people are willing to buy.
Bitcoin price was not really volatile from the first and second year it was created.
The first recorded price of bitcoin came in late 2009 when users in the BitcoinTalk online forum exchanged 5,050 BTC for $5.02 via PayPal. This transaction valued bitcoin at about $0.00099 per BTC, or about one-tenth of a cent.
So, the first price was $0.00099 which did not just jump from that price to $5, it took a long and gradual progression. Price begins to get more volatile afte the first halving. You are right that Bitcoin price is also affected by demand and supply. There are other factors too that can contribute to the price volatility such as FUD and bad occurrences in the world or world economy.
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I see that you copied this thread you made from bitcoin talk to this forum without adding any reference link to it.
So to avoid being accused of plagiarism or being punished due to plagiarizing your own post I’ll suggest you add a link at the bottom of the Op.
And if you make a subsequent thread - make sure to add the source link.
Here’s the link from Bitcointalk: https://bitcointalk.org/index.php?topic=5427526.
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People talk or love to introduce Bitcoin but forget to attach the creator's whitepaper which explains everything you know about Bitcoin, It is the compilation of Satoshi's thoughts and how everything works, and what it's trying to resolve, its good to know that there are many explanation and articles about Bitcoin online, this is the proof that Bitcoin has come a long way and being integrated by various industry.
Bitcoin: A Peer-to-Peer Electronic Cash System (https://bitcoin.org/bitcoin.pdf)
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Is this supposed to be a question? Because of I were asked I would say;
Bitcoin is the first decentralized crypto currency which was created and launched by a pseudonymous entity "Satoshi NAKAMOTO" in the year 2009. This pretty much the main information.
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People talk or love to introduce Bitcoin but forget to attach the creator's whitepaper which explains everything you know about Bitcoin, It is the compilation of Satoshi's thoughts and how everything works,
The BTC whitepaper is a good resource, but it can be a little bit too technical and difficult to understand for newbies, if i introduce someone to the BTC network, i do not show them the whitepaper immediately, there are a lot of resources and articles about BTC that explains it in an easier way for newbies to understand, if you introduce a newbie to BTC through a difficult route, they may lose interest early.
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I see defining bitcoin as a common and ordinary thing anyone can do when they make the action to go online and google it, there could be various interpretation on what bitcoin is, but the best way is to begin by knowing what a cryptocurrency is first, that will serve as an intro to understanding better what Bitcoin is for a lay man, if you want a digital currency and are tired of being under the control of the central authorities, then maybe bitcoin is the best for you.
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Bitcoin operates on a decentralized network of computers, known as nodes, which use blockchain technology to record and verify transactions. The blockchain is a distributed ledger that contains a chronological record of all transactions ever made on the network. Each block in the blockchain contains a batch of transactions, cryptographically linked to the previous block, forming a chain of blocks.
I am sorry, but I have to report your post because you have used AI to generate this post. This is something frowned upon and the forum moderation does not allow publishing content using AI. You can take it as a friendly suggestion. If you continue like that, the moderators may ban you or give you some strikes that it too bad for your account.
It is advised to stay away from AI and write your own content if you want to stay clear. It's possible to build a account only if you write original content.
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Bitcoin is a decentralized currency introduced in the market now a days with a huge market value and interms of exchange bitcoin store of value to hedge against inflation.
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I see defining bitcoin as a common and ordinary thing anyone can do when they make the action to go online and google it, there could be various interpretation on what bitcoin is, but the best way is to begin by knowing what a cryptocurrency is first, that will serve as an intro to understanding better what Bitcoin is for a lay man, if you want a digital currency and are tired of being under the control of the central authorities, then maybe bitcoin is the best for you.
People focus on the definition of Bitcoin. And indeed it needs to be understood because it is basic. Oh yes, apart from these definitions, there are things that are actually basic about Bitcoin, namely related to the risks that exist in Bitcoin. Because, Bitcoin is an asset that still has risks that must be taken by its holders. And the risk that this means exists and is inherent to Bitcoin and depends on how someone experiences and controls it.
After that, I thought more about the various benefits of Bitcoin which we have definitely felt and are currently enjoying too. We know that BTC is used not only as a means of payment or currency. but also for investing and trading. And some other experts who of course make profits. Well here, this is how we can optimize existing chances by managing the risks of Bitcoin.
because we can make money and be successful from Bitcoin, but we can also lose so much money because of Bitcoin. So, be careful about this.
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because we can make money and be successful from Bitcoin, but we can also lose so much money because of Bitcoin. So, be careful about this.
Well, to be honest, there are fewer chances of people losing money than them making money from Bitcoin but it all depends on how someone does it. Those who are not knowledgeable about it will make mistakes that cost them and it isn't Bitcoin's fault. If someone is making an investment in a HYIP or a scam website which is taking money in Bitcoin, they can't blame Bitcoin for making them lose money because they didn't make the investments in Bitcoin itself but it was a scam service being run in the name of Bitcoin.
When it comes to buying and selling Bitcoin, those who time their trades in a good way will barely lose any money, and even those who buy at the wrong time or when the price is high and the market is going down, even they can earn profit but all it takes for them is patience so that they don't panic and sell their assets at a loss.
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I see defining bitcoin as a common and ordinary thing anyone can do when they make the action to go online and google it, there could be various interpretation on what bitcoin is, but the best way is to begin by knowing what a cryptocurrency is first, that will serve as an intro to understanding better what Bitcoin is for a lay man, if you want a digital currency and are tired of being under the control of the central authorities, then maybe bitcoin is the best for you.
People focus on the definition of Bitcoin. And indeed it needs to be understood because it is basic. Oh yes, apart from these definitions, there are things that are actually basic about Bitcoin, namely related to the risks that exist in Bitcoin. Because, Bitcoin is an asset that still has risks that must be taken by its holders. And the risk that this means exists and is inherent to Bitcoin and depends on how someone experiences and controls it.
I strongly agree with you, it's not just enough to consider just the definition of Bitcoin, while it's important to know the definition of bitcoin, it's also very important to also acknowledge the potential risks involved in it. Bitcoin may have very high potential for profitability and so are the risks very high too and it'll be suicidal for one to dive into Bitcoin investment without first acknowledging the possible risks involved.
Bitcoin is very volatile and its price can fluctuate unpredictably, and just like every other digital assets, it's vulnerable and the possibilities of hack and other security threats are all in thr picture.
So one should be aware of the threats and risks associated before diving in, and not just the potential for profits and gains.
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if you want a digital currency and are tired of being under the control of the central authorities, then maybe bitcoin is the best for you.
Yeah, BTC is censorship resistant and there is no central authority in control, BTC users can also achieve a good level of privacy when they use BTC and they can even achieve anonymity if they use BTC privacy solutions. This is why the government continues its attack on services that enhance privacy for BTC users and they are also on the attack against BTC fungibility, but the network is still what it is.
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if you want a digital currency and are tired of being under the control of the central authorities, then maybe bitcoin is the best for you.
Yeah, BTC is censorship resistant and there is no central authority in control, BTC users can also achieve a good level of privacy when they use BTC and they can even achieve anonymity if they use BTC privacy solutions. This is why the government continues its attack on services that enhance privacy for BTC users and they are also on the attack against BTC fungibility, but the network is still what it is.
In one word bitcoin gives financial freedom to her adopters, and the government hates this, for their citizens to be making transactions without their notice or unable to track it. For these reason government decided to attack bitcoin that people are using them for illicit activities of which fiat is also used for illicit activities before the existence of bitcoin, and they are still using fiat for illicit activities but the government will not do anything to fiat. Biased people.
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if you want a digital currency and are tired of being under the control of the central authorities, then maybe bitcoin is the best for you.
Yeah, BTC is censorship resistant and there is no central authority in control, BTC users can also achieve a good level of privacy when they use BTC and they can even achieve anonymity if they use BTC privacy solutions. This is why the government continues its attack on services that enhance privacy for BTC users and they are also on the attack against BTC fungibility, but the network is still what it is.
In one word bitcoin gives financial freedom to her adopters, and the government hates this, for their citizens to be making transactions without their notice or unable to track it. For these reason government decided to attack bitcoin that people are using them for illicit activities of which fiat is also used for illicit activities before the existence of bitcoin, and they are still using fiat for illicit activities but the government will not do anything to fiat. Biased people.
Normally, the government and lawmakers are used to being in charge of all the affairs that concerns their citizens and within their jurisdiction, especially matters that concerns finance, whichbis the most important aspect, so even I do not expect them to embrace a technology that takes away tgat right from them to make all financial decisions and placing it in the hands of the citizen, regardless of the tremendous innovation and economic advantages that Bitcoin brings.
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In one word bitcoin gives financial freedom to her adopters, and the government hates this, for their citizens to be making transactions without their notice or unable to track it.
In principle, yes, because the government does not want its community to be unable to be controlled and under its regulations. And even the government wants all financial transactions and assets, the government can monitor them. Yes, especially if taxes are not one of the reasons besides power to control anything in the country? For this reason, they have created one or more regulations to regulate and control the activities of people in the crypto world, especially Bitcoin which is decentralized in nature.
In fact, as long as it is done in a private wallet or global exchange, the government cannot trace it and especially if P2P is successful. However, it will have an impact if you do it on a local exchange and do a withdrawal of the results. Meanwhile, if it is in a private wallet and we are just investing, it will not be detected.
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In one word bitcoin gives financial freedom to her adopters, and the government hates this, for their citizens to be making transactions without their notice or unable to track it.
In principle, yes, because the government does not want its community to be unable to be controlled and under its regulations. And even the government wants all financial transactions and assets, the government can monitor them. Yes, especially if taxes are not one of the reasons besides power to control anything in the country? For this reason, they have created one or more regulations to regulate and control the activities of people in the crypto world, especially Bitcoin which is decentralized in nature.
In fact, as long as it is done in a private wallet or global exchange, the government cannot trace it and especially if P2P is successful. However, it will have an impact if you do it on a local exchange and do a withdrawal of the results. Meanwhile, if it is in a private wallet and we are just investing, it will not be detected.
Well, one thing for sure is that, governments are all about controlling and regulating, particularly when it comes to money! They wish to oversee money-related operations and products, and the decentralized nature of crypto is not very appealing to them. I mean, tax revenue is also very important to them yeah, and they don’t want to be out of the party!
Therefore, they are formulating standards and policies that will regulate crypto; for instance, know-your-customer (KYC) and anti-money laundering(AML). Well, I think even the government knows how important and beneficial crypto is to the society and the whole thing is all about how to innovate and advance but, at the same time, keep things under control since they're not really the ones in charge of the technology. They don’t wish to completely destroy the crypto revolution, but they have to retain steadiness and remain secure as well as some level of control.
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Bitcoin is a digital currency. It is controlled by a computer network and is used as a medium of exchange. You can use Bitcoin from any country in the world. Because it will not be wrong to call it an international currency. Many use it as a business area. Bitcoin is the first and successful currency which was successfully released by Satoshi Nakamoto in 2009. We can use Bitcoin as open source software.
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Bitcoin is a digital currency. It is controlled by a computer network and is used as a medium of exchange. You can use Bitcoin from any country in the world. Because it will not be wrong to call it an international currency. Many use it as a business area. Bitcoin is the first and successful currency which was successfully released by Satoshi Nakamoto in 2009. We can use Bitcoin as open source software.
You should have written first and successful digital currency because it's digital. And what do you mean by we can use it as open-source software. Because we can develop open source applications for BTC like the electrum wallet, or some network, etc. we can create products for it. But how can we use it as open-source software? And speaking of Bitcoin is being used as a medium of exchange.
The idea at first was to use it as a peer-to-peer exchange but now people are interested in holding it as an asset for the long term. Bitcoin has made people a hell lot of money in a shorter period just by holding it. Besides, it's easier to make money by holding BTC compared to trading in it.
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Well, one thing for sure is that, governments are all about controlling and regulating, particularly when it comes to money! They wish to oversee money-related operations and products, and the decentralized nature of crypto is not very appealing to them. I mean, tax revenue is also very important to them yeah, and they don’t want to be out of the party!
Therefore, they are formulating standards and policies that will regulate crypto; for instance, know-your-customer (KYC) and anti-money laundering(AML). Well, I think even the government knows how important and beneficial crypto is to the society and the whole thing is all about how to innovate and advance but, at the same time, keep things under control since they're not really the ones in charge of the technology. They don’t wish to completely destroy the crypto revolution, but they have to retain steadiness and remain secure as well as some level of control.
Ah, here's the point, the government can't directly regulate Bitcoin, making it centralized like fiat, they can't do it directly. Because of that, it is true, they are always trying to find out how they can still manage and make them get part of the circulation of money in crypto, at least even though it can't be all of it, it can still be some of it that goes to them. And in the end, it's about money, with various ways to get taxes from it.
KYC/AML, local exchange regulations that must be registered with the government, blocking of global exchange sites that are not under local government regulations, these are part of their strategy. And finally, in several countries, one example is that they require all local exchanges to directly tax a certain percentage of each crypto buying and selling transaction. And we can't avoid it, unless we use P2P. And it doesn't end there, when people think that they are safe from being taxed when doing P2P directly, in the end, when the money goes into their bank account and it becomes a very large amount and not like usual, then There will be a freezing of the account, and again, later the government will contribute to the solution, by collecting taxes. This is sad, except for people who continue to hold crypto in their personal wallets and don't cash it in, then it will be safe.
I know that regulations in each country may be different, but the government's goals are probably almost the same. Namely the desire to maintain control and get a share of the financial cycle, namely through crypto taxes.
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I know that regulations in each country may be different, but the government's goals are probably almost the same. Namely the desire to maintain control and get a share of the financial cycle, namely through crypto taxes.
That's a great point! It is also seen that the government’s of different countries might have different policies of regulating these currencies, but their aim may be largely similar. Pricing control and revenue generation are, in effect, strategic objectives. All over the world, governments are interested in controlling the new form of cash, which is trying to dominate the existing monetary structures.
Crypto taxes are an exemplary case of what is mentioned above. Governments can also regulate this emerging market through taxing of all forms of transactions and the holding of these cryptocurrencies. It is one way through which they can have their piece of the cake of cryptocurrency and at the same time have it conform to usual financial regulations.
However, it is essential to realize that over-regulation or overly aggressive tax policies could deter innovation and push the activities in the crypto space to other countries that are more favorable towards the industry. Governments have to find the right approach to controlling crypto assets to reduce criminal activities while not stifling creativity.
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I strongly agree with you, it's not just enough to consider just the definition of Bitcoin, while it's important to know the definition of bitcoin, it's also very important to also acknowledge the potential risks involved in it. Bitcoin may have very high potential for profitability and so are the risks very high too and it'll be suicidal for one to dive into Bitcoin investment without first acknowledging the possible risks involved.
Bitcoin is very volatile and its price can fluctuate unpredictably, and just like every other digital assets, it's vulnerable and the possibilities of hack and other security threats are all in thr picture.
So one should be aware of the threats and risks associated before diving in, and not just the potential for profits and gains.
There is no doubt Bitcoin is volatile and risky. But I believe the volatility is also what makes it profitable for holding and Investment. As investors all we need to do is to know our risk tolerance and work with that, so we don't experience too much loss in times of bearish movements. Due to the presence of altcoins and some shitcoins which are more volatile and risky than bitcoin, majority of us don't talk about Bitcoin being risky anymore, because the risk associated is mostly affected by traders and not long term holders.
The government have been the major reason for the retarded growth of cryptocurrency in our economy, for instance India is facing a high tax demand from their government towards cryptocurrency users, that Alon could scare newbies and traders who just began.
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I strongly agree with you, it's not just enough to consider just the definition of Bitcoin, while it's important to know the definition of bitcoin, it's also very important to also acknowledge the potential risks involved in it. Bitcoin may have very high potential for profitability and so are the risks very high too and it'll be suicidal for one to dive into Bitcoin investment without first acknowledging the possible risks involved.
Bitcoin is very volatile and its price can fluctuate unpredictably, and just like every other digital assets, it's vulnerable and the possibilities of hack and other security threats are all in thr picture.
So one should be aware of the threats and risks associated before diving in, and not just the potential for profits and gains.
The government have been the major reason for the retarded growth of cryptocurrency in our economy, for instance India is facing a high tax demand from their government towards cryptocurrency users, that Alon could scare newbies and traders who just began.
I completely agree! One of the major challenges that is really hindering the rapid growth of cryptocurrency is that the government has not been friendly towards cryptocurrency and has been ultra-regulatory towards it. Excessive taxation like in India puts off the new users and traders and can facilitate their loss of interest from the market altogether.
The governments should realize that this is a growing technology with many potential opportunities which can be unlocked only with an appropriate legal environment. Through overtaxation and over-regulation, governments threaten to stifle growth, limit employment opportunities, and force talent and capital to seek opportunity elsewhere.
Instead, it is recommended for the governments to concentrate on the formation of the credible and fair rules and regulation that will be protective towards investors and at the same time fostering right developments in the cryptocurrency market.
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Additional to this, bitcoin doesn't have real life existence therefore people who knows about bitcoin made something that people can physically own which is a coin that contains Qr code that contains bitcoin in it. It can be used as gifts especially to newcomers in cryptocurrency. All you have to do is scan the qr code. Another information is that government around the world find ways to stop people using it and eventually banning the use of bitcoin and if found out then they are sent to prison. Other governments even find ways to make use of it to earn profit and won't let people avoid tax.
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Another information is that government around the world find ways to stop people using it and eventually banning the use of bitcoin and if found out then they are sent to prison. Other governments even find ways to make use of it to earn profit and won't let people avoid tax.
Most governments are against the existence of Bitcoin due to its decentralized nature, governments are known for their hunger for power and control over every affairs that goes on within their jurisdictions, and the financial aspects isn't an exception. Due to Bitcoin's decentralized nature, individuals now have absolute control over their funds and can make decisions for themselves without the government or any financial institutions interfering and the government are strongly against this, Hence the reason they try as much as they can to hinder Bitcoin's adoption.
But you know what they say, if you can't beat them, you join them. Some government realize how difficult and almost impossible it is to stop Bitcoin so they decide to impose taxes on them so they can get their own fair share of the cake.
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if you want a digital currency and are tired of being under the control of the central authorities, then maybe bitcoin is the best for you.
Best for everyone I guess, who wants financial freedom. Day by day, people are beginning to think that they have to take charge of their finances rather than having their money saved in the bank without giving them any Interest rather the value of their money depreciates over time. It's now better to have their money invested in bitcoin for a long term, at least it will provide huge profits for them in the future.
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if you want a digital currency and are tired of being under the control of the central authorities, then maybe bitcoin is the best for you.
Best for everyone I guess, who wants financial freedom. Day by day, people are beginning to think that they have to take charge of their finances rather than having their money saved in the bank without giving them any Interest rather the value of their money depreciates over time. It's now better to have their money invested in bitcoin for a long term, at least it will provide huge profits for them in the future.
You are right ! Holding Bitcoin is a financial assurance of the future for investors with the potential to increase in value over time. By analyzing its value in the past you can be more sure of what it might be worth in the next 4 years. However, as a volatile valuable asset, Bitcoin is held with great confidence by investors. The number of Bitcoin holders worldwide is constantly increasing.
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Bitcoin has always been a highly profitable currency to hold for a long time. Bitcoin's halving happens every 4 years. That halving's bitcoin peaked. Moreover, Bitcoin is the most valuable cryptocurrency asset. Bitcoin is currently the top choice of investors. Despite Bitcoin's price volatility, its value increases significantly over time. This is the reason why the number of Bitcoin holders worldwide is constantly increasing.
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Bitcoin has always been a highly profitable currency to hold for a long time. Bitcoin's halving happens every 4 years. That halving's bitcoin peaked. Moreover, Bitcoin is the most valuable cryptocurrency asset. Bitcoin is currently the top choice of investors. Despite Bitcoin's price volatility, its value increases significantly over time. This is the reason why the number of Bitcoin holders worldwide is constantly increasing.
Investing in bitcoin for short term is not really profitable but if the investor calculate well and invest then he or she would have some profits. But the good investment plan is long term for like five years and more. And anyone who is investing in bitcoin now will make it from 2027 when Donald Trump has finally won the election. And the only prayer we have is that he should implement his promises of adopting bitcoin. Because if Trump accepts bitcoin, it will help the growth of it.
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You are right ! Holding Bitcoin is a financial assurance of the future for investors with the potential to increase in value over time. By analyzing its value in the past you can be more sure of what it might be worth in the next 4 years. However, as a volatile valuable asset, Bitcoin is held with great confidence by investors. The number of Bitcoin holders worldwide is constantly increasing.
It seems like this happens only if the person also knows and understands the basic investment in Bitcoin, namely really knowing when to sell it. Don't let them decide to sell when the bullish season arrives, so that even though they have been holding for years, they sell it during a bearish era, this will actually result in big losses. This will definitely cause regret after many years of keeping the BTC.
That's why information and knowledge are important in all the actions we take. You don't need to go into too much detail, but at least understand some basic information regarding Bitcoin, using a safer wallet, and the cycles of bullish and bullish eras.
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Despite Bitcoin's price volatility, its value increases significantly over time. This is the reason why the number of Bitcoin holders worldwide is constantly increasing.
The reason why there is and will always be demand for BTC is its utility, BTC is very useful, and these use cases is why people continue to use it. BTC's volatility has reduced compared to the past and i believe BTC will be less volatile in the future. If you want a censorship resistant and permissionless currency, use BTC.
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Bitcoin is the first crypto coin to be created in the world, one of the best investment right now in the world and the best crypto coin, Bitcoin has made a lot of people rich and has also helped to increase the economy of the world, when it comes to bitcoin investment one needs to be consistent and patient in other to succeed in it, some people believe Bitcoin will not hit $100k, this believe has made a lot of people refuse to invest in Bitcoin which is not right because 10 years ago some people had a very good opportunity to invest on Bitcoin and that time the Bitcoin price was very little but they refused to invest in it because they believe it won't grow and now they are regretting deeply and those who invested in it now and enjoying it and these is how it will be when Bitcoin will hit $100k a lot of people will regret why they didn't invest.
If you go through the history of Bitcoin and it's growth you will know that Bitcoin will keep growing bigger and better, some believe Bitcoin has stopped in it growth and will not grow more than it is now that's not true Bitcoin has not reached half of it's growth limit so Bitcoin will still grow bigger and better.
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Despite Bitcoin's price volatility, its value increases significantly over time. This is the reason why the number of Bitcoin holders worldwide is constantly increasing.
The reason why there is and will always be demand for BTC is its utility, BTC is very useful, and these use cases is why people continue to use it. BTC's volatility has reduced compared to the past and i believe BTC will be less volatile in the future. If you want a censorship resistant and permissionless currency, use BTC.
I think it's more of Bitcoin becoming a asset, being traded in a exchange and people are profiting from it, simply as that. Before it was used for micro payment and even for gambling as we have seen it from some old crypto based platform.
But now, it has change a lot, evolved so much and now being treated as one of the best asset if not the best in the last 5 years or so. Just imagine investing early or those early adopters, by now, all of them are crypto millionaires and thanks to Bitcoin.
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Bitcoin's value has really gone up over time, even though its price can be a bit unpredictable. That's what makes it so appealing to invest in the potential for long-term growth is huge. Bitcoin was the first cryptocurrency introduced to humanity, and it remains the most valuable cryptocurrency. Its decentralized nature attracts people because it gives them control over their assets. Bitcoin doesn't rely on intermediaries, nor is it controlled by any government or central bank. It was introduced by Satoshi Nakamoto in the year 2008.
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Bitcoin's value has really gone up over time, even though its price can be a bit unpredictable. That's what makes it so appealing to invest in the potential for long-term growth is huge. Bitcoin was the first cryptocurrency introduced to humanity, and it remains the most valuable cryptocurrency. Its decentralized nature attracts people because it gives them control over their assets. Bitcoin doesn't rely on intermediaries, nor is it controlled by any government or central bank. It was introduced by Satoshi Nakamoto in the year 2008.
You are right, one of the good thing about Bitcoin investment is that it is decentralized and it can't be controlled by any government or central bank, and because of that some government don't want it in there country they want to make sure they bring Bitcoin down they have tried but because they don't have the power to do it they are helpless, some wise government has started accumulating Bitcoin and stocking it because they have seen how valuable Bitcoin is becoming some countries has now legalize it as a means of payment that means you can go to a supermarket and purchase something and then pay with Bitcoin.
Some countries feels that Bitcoin is bringing down the value of their currency and that is why they can't accept it, countries with this can of mentality are losing out from benefiting from Bitcoin, now that some countries are taking advantage of Bitcoin and accumulating as many Bitcoin as possible when they will be benefiting from it those countries that refuse to participate will regret, Bitcoin will surely hit $1 million in the future and those who are accumulating now will be the once to rejoice.
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Bitcoin's value has really gone up over time, even though its price can be a bit unpredictable. That's what makes it so appealing to invest in the potential for long-term growth is huge. Bitcoin was the first cryptocurrency introduced to humanity, and it remains the most valuable cryptocurrency. Its decentralized nature attracts people because it gives them control over their assets. Bitcoin doesn't rely on intermediaries, nor is it controlled by any government or central bank. It was introduced by Satoshi Nakamoto in the year 2008.
You are right, one of the good thing about Bitcoin investment is that it is decentralized and it can't be controlled by any government or central bank, and because of that some government don't want it in there country they want to make sure they bring Bitcoin down they have tried but because they don't have the power to do it they are helpless, some wise government has started accumulating Bitcoin and stocking it because they have seen how valuable Bitcoin is becoming some countries has now legalize it as a means of payment that means you can go to a supermarket and purchase something and then pay with Bitcoin.
Some countries feels that Bitcoin is bringing down the value of their currency and that is why they can't accept it, countries with this can of mentality are losing out from benefiting from Bitcoin, now that some countries are taking advantage of Bitcoin and accumulating as many Bitcoin as possible when they will be benefiting from it those countries that refuse to participate will regret, Bitcoin will surely hit $1 million in the future and those who are accumulating now will be the once to rejoice.
I think that you could explain absolutely correct opinion on your comment. We know that bitcoin is one of the best digital crypto in cryptocurrency world. We also know that which will be contain digital gold in cryptocurrency market. We also know that bitcoin price is increase gradually in cryptocurrency market. We also know that bitcoin price is near $100k in cryptocurrency market. But I believe that within a short time this digital gold will reach $150k in cryptocurrency market. Because we know that US president Donald trump also best supporter of bitcoin.