Topic: I'm happy I can finally say something about bitcoin. - page 3. (Read 742 times)

And I think it feels unnatural dealing with something that you didn't know. It is like you are only lying about your self and it's kind of embarrassing if someone will question you about it and you will only answer them incorrectly or you can't say anything at all. Getting involved in Bitcoin is not only limited to what you have said. What about the exchanges? Because this is where we can buy our Bitcoins that we will transfer in our wallets.

We must also know the movements of the market so that we won't panic sell and experience a loss once the price is dumping heavily because it is only a natural occurrence and there is still a chance for it to recover later on.

Everybody can say something about Bitcoin. Those who understand the basics of Bitcoin can have informed opinions on it. But even those who don't understand about it can also say something. That's how Bitcoin gained good and bad reputation. To some, Bitcoin is the future of money. To others, it's a Ponzi. To some, it's the kind of freedom that everybody deserves in the financial world. To others, it's merely a currency preferred by criminals.

It's good to know that you are on the right side of the fence.

A general knowledge that every newbies should know about Bitcoin is exactly what this sounds like to me, a professional Bitcoin holder or trader most likely have this basics if not they wouldn't have gotten to their current levels with Bitcoin investment and trading, you must have understood Bitcoin enough to a very great extent to be able to know how well to trade or invest to the point you will be called a bitcoins trader or an investor. Bitcoin is something we shouldn't be seen as our job opportunities except as a full time trader because I believe you can still be able to make a whole lot of such knowledge as it's been expected,but anything aside trading of Bitcoin, just an investor can never be a reason you will have to say you are working or seeing Bitcoin as your occupation because as an investor you will have to wait a while for profits.

The spread of bitcoin is indeed getting better for now but to make this a legal means of payment in a state of course this is still 50/50 and does not rule out the possibility that bitcoin will remain the same as a commodity or only be legalized as an investment asset.
Government regulations are very strong and surely we are aware that bitcoin and the government cannot be united so it will be difficult for the government to make this a legal tender especially for large countries.

The hope is still there but pegging for the next few years I will not say this with confidence because in my opinion the government will still try to continue to limit bitcoin even though it is not as extreme as before such as banning bitcoin but they will continue to try to limit it so that bitcoin does not develop quickly and with this condition they certainly will not legalize bitcoin as a legal tender quickly because they will not benefit from it.

That is nice to hear because in any one is doing and the first thing to do is to know the meaning of the key word so that whenever question come s, then you can withstand with it. And since you have know the basic concept of bitcoin then the next thing to know is wallet. And once you have known wallet and how to use it then all is set.

Thank you all for educating me on the subject matter as well as making helpful suggestions that'll help me learn more about Bitcoin. Like I said, my knowledge about Bitcoin is still very young but that doesn't mean I have no desire to improve. I'll continue to research and learn more about Bitcoin so I can make more meaningful and helpful contributions going forward

Well yeah true. Bitcoin as a new kind of investment rather than a new kind of money is what is the new trend  due to the fact that fluctuation in transaction fees hurts those who use it as a payment method while from little to no problem if we treat Bitcoin as an investment since we are not that frequent to do transactions especially if we are a long term hodler.

Thank you all for educating me on the subject matter as well as making helpful suggestions that'll help me learn more about Bitcoin. Like I said, my knowledge about Bitcoin is still very young but that doesn't mean I have no desire to improve. I'll continue to research and learn more about Bitcoin so I can make more meaningful and helpful contributions going forward

Thank you for the corrections. I'll definitely learn more about Bitcoin in other to  significantly improve my knowledge about it. It's a pleasure to share this platform with people that are very knowledgeable about Bitcoin. Hopefully, I'll be making more impactful posts about Bitcoin in the nearest future

Explain to me how BTC solves the problems of all those who do not have access to the internet at all or all those 95%+ who have never invested in BTC? Furthermore, in what fairy tale does BTC become a "legal system of money" in countries like China, India, Russia or even the UK, US or EU?


So in 15 years the share of the world's population that we can connect with BTC is between 2-5%, and in the next 10 years everyone will be using it everywhere? Some may call it optimism, but there is another word for it that I don't even want to write...

Actually basic explanation or even just keywords would really be just that enough. You wont really be needing up to be that techy or having those complicated words on trying out to explain something into someone
specially about Bitcoin or crypto as a whole. If you wouldnt really be still having that kind of knowledge and experience then it would really be that understandable that you would really be that hindering yourself on making up those kind of explanations on which you would really be that afraid that they might scold or tend to point out fingers if ever you would really be making out some explanation about it but just like on what i have said  that
keywords or even just that an introduction would really be just that enough because we know that googling information nowadays would really be just that simple as 1,2,3.

If you would really be tending to share it up then it would really be just that depending on you. Just make it sure that you should really be telling about the most precise information at least
even if the basic but at least you have told them about on what you do know. Also, dont tend to forgot when it comes to the risks involved since this is where
someone would really be mainly having problems when other people are really that expecting too much out of it.

The government of the world would first have to accept Bitcoin before it can become universally accepted. I don't think this is going to happen. Acceptance means very strict regulations.

Including businesses. Specifically small businesses like small local shops. It would be difficult to get them to start accepting Bitcoin especially if they are situated in underserved and low income communities.They will not be able to accept Bitcoin for buying groceries and paying for services or even using it to make online purchases.

We can’t actually tell if the promotion of bitcoin will move to adaption 10 years from now. Yes, there could be increasing number of financial institutions that already recognized about bitcoin, but still majority of the world governments have still not accepted bitcoin as a currency, although the legalization of bitcoin has successfully done. As long as bitcoin remains decentralized, I don’t think this will come to possibility. Knowing the government won’t certainly adapt if they can’t totally control it in return, that’s how greedy the government is, or shall I say the officials sitting in their respective positions.

that is what I also expected haha

maybe op did not feel confident talking about bitcoin back then but all shared are still surface-level, basic information anyone can access from the internet. maybe spend more time and gather more personal and specific opinions to share here in the forum

Bitcoin is a public ledger that is built by blockchain technology. A digital ledger can be built by other technologies which are not necessary be blockchain and there is things like DAG as well.
DAG: Directed Acyclic Graph

Global financial problems are big enough to say, Bitcoin blockchain won't be able to solve these problems or other bigger things. Bitcoin is a borderless digital decentralized currency but it won't solve all kinds of problem on this planet in all countries. There will still be people who won't be able to access Bitcoin.

Yes, it is true that bitcoin is almost known to some of the world's population, but there are still those who do not want to participate in the technological development and progress of blockchain and digital money (bitcoin), regarding the problem of being a legal means of payment, I think this discourse is the hope of all Bitcoin holders, however as we know the government will never agree to that, and bitcoin will always be an investment tool other than gold

Bitcoin is already found everywhere, only that we haven't seen a massive support from most of the governments In it's use because they don't want to approve what will not give them power to control or regulate, but many people have taken great benefits from the use of this decentralized digital currency, it's a means of exchange and an acceptable digital asset and investment, we only expect for the governments massive adoption between now and more subsequent years to come.

You did well to had said things about Bitcoin but all being said is as you narrated the history and development of Bitcoin.
The title of your thread would had been best to say you have now understood what Bitcoin is about because I was actually expecting you to say something unique or you are testifying on your experiences encountered on Bitcoin.

On January 3rd 2009, Satoshi Nakamoto created the Bitcoin network as a form of cryptocurrency. It was the first time in the history of money that someone was introduced a form of money that is absolutely intangible, does not exist in a any physical form; which means that it was introduced as a form of money can be used as a means of exchange yet can not be touched or physically felt.

More importantly, Bitcoin was introduced as a form of money that is completely decentralized. Bitcoin network was introduced as a system of money that totally forbids any form of control by governmental or private institutions including the brain or brains behind it's existence. Bitcoin was created to run on a digital ledger called the  blockchain technology.

This system of money was completely new to human existence when it was first introduced as there's never been a similar system of money that was ever adopted as a means of exchange and that was why many people who got the knowledge of Bitcoin at it's early stage of existence never believed that it was going to be a successful project. It was because of the numerous uncertainties surrounding the possibility of the digital coin to succeed that made many people who got the first hand information about Bitcoin to  neglect it even when it would've cost them very little or no money to own hundreds and thousands of bitcoins then.

Despite the doubt by majority of the people who were introduced to Bitcoin as it's earliest stage about the possibility of the coin to achieve the projected purposes it was created for, Bitcoin went on to defile all odds and successfully become first cryptocurrency project that was approved as a means of exchange and store of value in global market.

Today, Bitcoin is currently used as a means of exchange many countries and provinces of the world and just 15 years after Bitcoin was launched, a piece of Bitcoin is currently a little above 65,000 US dollars. The people who never believed that it'll become a successful project hence failed to invest in it when it was first introduced are now living a life of deep regret.

Bitcoin today is considered as the future global currency because of it's ability to solve global financial problems like allowing people from different parts of the world to transmit money at will, anywhere in the world and at any given time. Bitcoin is no longer solving the financial problems of 50-80 million people in one particular country instead, it's now solving the problems of more than 7 billion people and that's why Bitcoin network will continue to expand across the globe until it finally becomes a legal system of money in all parts of the world.

Considering the rate at which Bitcoin is spreading across the globe, it might be globally accepted as a means of exchange in all parts of the world in 10 years to come.