Is bitcoin that good

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Bitcoin is unsuitable to borrowing, other than to finance a bitcoin “mining” system (an amusing term). If you finance anything from hamburgers to a real mine such as gold or copper, forget about borrowing bitcoin. This is not a hidden flaw. Nor is it something we say to promote gold. That’s why Bitcoin is a good investment: because with its transparent and decentralized blockchain, it gives us financial liberty. This financial liberty also comes with financial gain. Since Bitcoin’s meteoric rise in price, many early investors made considerable wealth and decided to share the love by setting up charities and funds. Dec 03,  · Bitcoin is arguably 1 of the most liquid investment assets due to the worldwide establishment of trading platforms, exchanges and online brokerages. You can easily trade bitcoin for .

Is bitcoin that good

Keith Weiner Blog | Bitcoin: What Is It Good For? | Talkmarkets

But here we are, facing a global financial crisis because of the coronavirus outbreak. I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity Whereas both Warren Buffett and Donald Trump are on the same page about bitcoin, in that they generally see it as having "no value," billionaire investor Chamath Palihapitiya of Social Capital disagrees.

People desperate for money. Very sad. If government gives you free money take it yet spend it wisely. Buy gold, silver, Bitcoin. Dollar is dying. Some would contend it is used as a medium of exchange.

After all, some merchants do accept it. Few merchants make so much profit margin, that they can take the risk of a 7. They just want to be paid in dollars. They know the wholesale price that they pay the distributor for the goods. And they add in a small profit. That is their selling price. They hire a third-party currency exchange TPCE. The TPCE converts the merchant's dollar prices to bitcoin, and adds on a fee.

When a buyer comes along with bitcoin to buy a product, the TPCE finds a fourth party who wants to trade dollars for bitcoin. The TPCE brokers the dollars from the fourth party, the bitcoin from the buyer, and the goods from the vendor. In the end, the vendor has dollars, the buyer has the goods, the fourth party has the bitcoin, and the TPCE has its fee.

Everyone gets what he wants. Is this truly using bitcoin as a medium of exchange? Not quite. It is using bitcoin as a means of speculation. At a much lower price. In fact, usage of bitcoin in online transactions is closely correlated to the price action. Medium of exchange? Medium of speculation and of capital consumption. Checking the Fundamentals. Now on to gold. Now, the silver graph. Unlike gold, the price of silver is back up to what it was at the start of last week. The basis was 1.

Bitcoin AKA Cancer-Pills has become an investment bubble, with the complementary forces of human herd behavior, greed, fear of missing out, and a lack of understanding of past financial bubbles amplifying it. To better understand this mania, we need to look at why bitcoin was invented in the first place.

As the legend goes, in an anonymous developer published a white paper under the fake name Satoshi Nakamoto. The author was evidently a software and math person. But the paper also has some in-built ideology: the assumption that giving national governments the ability to monitor flows of money in the financial system and use it as a form of law enforcement is wrong. This financial libertarian streak is at the core of bitcoin.

Government-issued currencies have value because they represent human trust and cooperation. There is no wealth and no trade without these two things, so you might as well go all in and trust people. Bitcoin has none of these things, and even safely storing it is difficult. Bitcoin exchanges such as Mt Gox in Japan, Bitfinex and various other wallets and exchanges have been hacked. The second point is crucial. Bitcoin is only valuable if it truly becomes a critical world currency.

Right now, speculators are the only people driving up the price. A speculative cult currency like bitcoin is only valuable when you cash it out to a real currency, like the US dollar, and use it to buy something useful like a nice house or a business. When the supply of foolish speculators dries up the value evaporates — often very quickly.

Is Bitcoin a Good Investment? Bitcoin: What Is It Good For?

Dec 02,  · Bitcoin is unsuitable to borrowing, other than to finance a bitcoin “mining” system (an amusing term). If you finance anything from hamburgers to a real mine such as gold or copper, forget about borrowing bitcoin. This is not a hidden flaw. Nor is it something we say to promote gold. Jan 15,  · Bitcoin has become a bubble with the forces of human herd behavior, greed, and fear of missing out amplifying it But since the formula is open and . The COVID pandemic has shaken the global economy. At a time like this, some are wondering whether bitcoin is a good investment. However, anyone . Tags:Bitcoin profit now review, Coinbase bitcoin cash live, Btc stock watch, Btc generator 2017 download, Bitcoins kaufen sofort erhalten

1 Responses

  1. Nikotaxe
    | Reply

    In my opinion you commit an error. I suggest it to discuss.

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