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  • #3852

    Lakhwinder
    Participant
    @lakhwinder

    Why will Bitcoin become a Safe currency?
    For a long time, the gold was considered the haven by many investors around the world. The logic was simple: gold has some intrinsic traits that make it excellent for preserving the value.

    At the most basic physical gold does not tarnish and does not degrade over time. Gold also has valuable uses in electronics and other industries. Also, the supply is limited, and demand is high, largely because people simply love the sparkle of gold. Add all this and gold is a perfect haven asset.

    Bitcoin, for many of the same reasons, a good chance to become the first choice for investors who want to park their money when the global economy is hit by a turbulent period. This is not mere speculation either: when Greece was on the verge of collapse and that the eurozone was threatened, the price of Bitcoin rose less than $ 250 to more than 300 dollars a month.

    Bitcoin has good chances of becoming the first choice for investors who book their money when the global economy is affected.

    Meanwhile, with China suffering huge economic and financial constraints, Chinese buyers have cashed their yuan for Bitcoin. Reduced growth, declining consumption, potential real estate, stock market bubbles and other factors have made investors nervous many Chinese, and last week; it caused a huge sale that plunged stock markets worldwide in the red. However, if you had invested in Bitcoin at the beginning of last week, you would have seen your investment climb even if everyone dropped.

    The economic problems of China, which seem to come out of nowhere, may explain why the price of Bitcoin has risen from $ 209 last Monday at the start of the stock market crash in China, $ 230 at the end of the week. Much of Bitcoin purchases during the last week were in Chinese yuan. Why? With the collapse of the economy, the risk of devaluation of the Chinese currency has risen considerably.
    Why Bitcoin could it become a haven?

    What is that Bitcoin a good candidate to become a motto or shelter well? Many of the same features that make gold so valuable also make Bitcoin valuable. First, and perhaps most important, such as gold, there is a limited supply of BTC. While governments can continually print money and use quantitative easing to add billions of dollars to the money supply, only 21 million Bitcoins can be extracted. After 21 million marks have been affected, most any digital document can not be produced, although it is thought that this limit will not be reached before 2140.

    The limited supply is particularly valuable because it protects against inflation. While governments tend to print money when they go through a difficult economic period, Bitcoin will never face a similar scenario. If the money supply does not increase the risk of inflation is usually much lower. The limited supply of gold, for example, has long been one of its most valuable features and helps to explain the position of the metal as a haven and the previous product of choice for support currencies. The limited supply of Bitcoin should make it as attractive.

    Also, the limited supply is not the only thing that makes precious Bitcoin. Cryptocurrency consumes resources to be mined, which means that you can not produce freakishly random BTC heap. On the other hand, money can be created at will. If the system of the US Federal Reserve decided to create $ 1 trillion of new money, he could do it.

    On the other hand, for the bitcoins are made, minors must produce them, and it costs money because they have to buy mining equipment and use a lot of electricity. It is much more expensive for the miners to produce new Bitcoins for the Federal Reserve to produce capriciously money.

    So what does all this mean?

    Of course, the jury is still out, but until now, Bitcoin has proven in recent market crises. Since cryptocurrency is so easy to access, use and conversion, it becomes an option increasingly popular around the world. Add to the growing importance of Bitcoin and related technology on Wall Street, it is reasonable to assume that the currency will become more popular among traders, professionals, and amateurs in the future.

    However, keep your eyes open for attacks. If you have investments in Bitcoin, you will likely see your pieces appreciate when a major crisis affects markets. Your earnings would be 10%, 20% or more. If the crisis appears to be short and it affects quickly sell your BTC after a market decline could be a good idea.

    On the other hand, if the conditions are going to get worse, you could be safer with your investments in Bitcoin. Financial crises are hard to predict and there is no surefire survival guide or strategy for making money when the economy grows. Nevertheless, compared to many traditional currencies, Bitcoin seems to be a safe enough place to store your wealth.

  • #3853

    Muntazir Abbas
    Keymaster
    @muntazirgb

    Bitcoin will only take on value because it meets a need within society that existing commodities don’t meet in the same way. I hope that people will learn more about what makes Bitcoin different from other forms of value and why it works well as a form of currency, and then use it, spend it, accept it for goods and services that they offer. Simply investing in something, keeping it stored up doesn’t do all of us much good. Getting Bitcoin to a point where you and many, many others utilize it as a part of an economy because it is more efficient, affordable and convenient to use will benefit us all.

    If, after researching Bitcoin, you do decide that Bitcoin would be a good thing for society to embrace (and I do), then I’d encourage you to invest time promoting, discussing, using, protecting the use of Bitcoin and building systems to allow for Bitcoin to be utilized by as many people as possible. And if you happen to make a profit on *SOME* of your bitcoins along the way, then more power to you.

  • #3871

    fahad
    Participant
    @fahad

    The first thing to understand is that regardless of the utility of the underlying blockchain technology, investing in Bitcoin gives you no intellectual property rights. Thus usage of blockchain by any organization should have no relevance to the bitcoin price.

    You need to ask yourself, why would corporations and government desiring to use a blockchain just give huge sums of money to speculators in exchange for nothing when they can just pay developers and holders of intellectual property that they need? The same question applies to a country wanting to create a digital currency on a blockchain. IBM and other corporations have already created blockchains that don’t require any crypto-currency.

  • #3872

    Matthew
    Participant
    @Matthew

    If Investing which you mean is Buying – and – Holding, you need to know some things.

    Bitcoin price changes every day. No one could tell how it would be in coming week. So forget about predicting about next month’s. If you are planning for long-term holding, you might have to reconsider your option.

    Don’t invest more than you are willing to lose. Follow Dollar cost averaging. This means that you don’t buy all of your Bitcoins in one trade but instead buy a fixed amount every month, week or even day throughout the year. This way you average the price over the course of a whole year.

  • #3912

    Lakhwinder
    Participant
    @lakhwinder

    Bitcoin is a global consensus
    By its free and decentralized nature, Bitcoin is the first payment network that only works with its users and with no central authority. Even the developers of Bitcoin have no power to force an update in the protocol if enough users, developers or miners disagree. You only have exclusive control of your wallet.

    A currency designed for internet

    Bitcoin is born of the Internet. Introducing its passage freedoms of the physical currency in the web world while making them easier and safer payments in both worlds. Bitcoin can offer concrete alternatives to several older systems, heavy and expensive. And it can increase the accessibility of online commerce in developing countries.

    Protect individual rights and freedoms

    Bitcoin allows each person to store and exchange the value safely on a network that can not be grasped, manipulated or stopped by any organization or individual. Giving free access to powerful tools that can play a role in protecting individual rights and freedoms against several levels of corruption.

    The first comprehensive and neutral currency

    One can hardly find a coin in our history which has been free from political influence or any national economy. The Bitcoin could it become the first global currency to cross all barriers between nations, policies, and cultures for the benefit of the common good? All this seems possible. One for all and all for one!

    Promoting transparency
    All Bitcoin transactions are public. But the owners and recipients of these transactions remain unknown. Organizations can choose to reveal their property on some Bitcoins addresses to persons defined. This allows any organization to implement excellent transparency practices adapted to each need.

    Making safer money
    Thanks to the ingenious use of cryptographic rules, the Bitcoin offers an amazing list of features related to security. Not only Bitcoins are impossible to forge or spoof but the protocol is also designed to be highly resistant to an impressive list of computer attacks, including distributed denial of service.

    Resolve banks trust issues

    Bitcoin offers solutions against several problems of trust between banks with selective accounting transparency, evidence by cryptographic signature and irreversible transactions. Bitcoin also increases the risk of dishonest banks. No new Bitcoin can be created to save them from their own mistakes at the expense of citizens.

  • #6002

    Kate Fowler
    Participant
    @KandyF

    I support bitcoin and think that it’s quite positive and reliable cryptocurrency. I also used to invest in it, just looking through https://www.crocosource.com/featured/mineable-crypto-28cf110b/ table that shows which one is popular and which one is not.

  • #6003

    Frank
    Participant
    @Brexit

    Bitcoin is safe cryptocurrency and it’s nothing bad at all

  • #6196

    JohnnySins
    Participant
    @Bornerrack

    I don’t know about this cryptocurrency business, looks a bit shady to me.

  • #8701

    Miller
    Participant
    @miller

    For the foreseeable future, I would argue no. Bitcoin is a new type of electronic money created by a software engineer (Satoshi Nakamoto) in 2009. Bitcoins are not controlled by a central bank, but rather are created by users who generate new Bitcoins when they use their computing power to verify and process Bitcoin transactions (a process known as “mining”).

    The answer to the question on whether Bitcoin will become a common currency of the world turns, to me, on whether Bitcoins satisfy the three key functions of money (medium of exchange, unit of account, and store of value). It is a medium of exchange. Fees are low (certainly when compared with using credit cards), transactions can be made anonymously (for those who value their privacy).

    But Bitcoins are not good units of account or stores of value. The price of Bitcoins is very volatile (over seven times as volatile as the price of gold, and over eight times the volatility of stock market indices such as the S&P 500). For example, in 2011, the price of Bitcoins fluctuated between 30 cents and $32. It rose to $255 on April 10, 2013, and fell all the way down to $55 on April 17. By November of the same year, it was up to $1125. Today it is worth about $1,365.

  • #8971

    Tilda123
    Participant
    @Tilda123

    Oh, thanks for this information. It is useful and interesting for me. I would like to earn on Bitcoin, but for now I’m afraid. I believe that you can earn on the Internet, on a virtual currency. But I did not try to work with Bitcoin. If we talk about earnings in the Internet in general, I can say that I worked with forex trading. I make a lot of money out of it. This is all thanks to my broker Avatrade. You can learn more about it on http://www.avatradereview.org . I made enough money with this broker to buy several bitcoins. Therefore, I am interested in the topic of Bitcoin security.

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