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tabas

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Quote from: Compromise me on June 18, 2023, 08:41:41 AM

They were concerned that if the internet were to go down today I would lose all my investments.?[/b]

Nope, you won't lose all of your investments. Because if there's no internet then your investments will remain untouched because there's no connection, no connectivity. I guess your friends are just trying to poke you because they're jealous of what you've got for investments.
You're already making money and trades for the past two years, you know what's best for you and you know better than that friend of yours. It should be you that must be worried about him/her when they're still in the phase of doubting this market, you're already making money and they'll be left behind.

Nheer

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It is difficult to imagine our planet without the existence of the internet, though it is possible but very unlikely to happen. Things that may cause the internet to go down worldwide are things that can rarely happen. The internet in the connection of networks and almost every sector that make up the world make use of the internet from schools, hospitals, banks, even the military depends on the internet so there are people doing everything in their power to keep the internet running because the world will suffer and lots of things will go down and the world will be unstable. Even if the internet was to go down it wouldn’t take long to get it back running. Let’s not even imagine such to happen.

Stalker22

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Quote from: Compromise me on June 18, 2023, 08:41:41 AM

One of my friends asked me a question regarding why I am trading and investing in cryptocurrencies considering that there is no central authority and no physical entity involved. They were concerned that if the internet were to go down today I would lose all my investments.?

They also asked why the currency of cryptocurrencies is valued so highly.?

One of the reasons why Bitcoin is attractive to investors is because it does not have a central authority. Some people claim that other cryptocurrencies are just as decentralized as Bitcoin, but this is not actually the case. Because of its decentralization, no one will lose their coins if part of the internet goes down. However, if the entire internet would go offline - we will have much bigger problems to deal with as individuals and as a civilization. For instance, our global economy might collapse or basic banking systems fail entirely.

What do you mean by "valued so highly?" Bitcoin is worth whatever buyers are willing to pay and sellers are willing sell it for - just like any publicly traded commodity. This is basic economics: supply and demand determine prices in real markets.

michellee

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Can you explain what answer you gave to your friend?

They must know that the internet will not go down, at least for big cities, because the internet has now become a primary need for almost everyone, even though it will likely still exist. Their investment will be safe if they keep it in their personal wallet and not on an exchange.

Cryptocurrencies are valued very highly because of their uniqueness, where cryptocurrencies can reach all countries and because of their uniqueness, cryptocurrencies can reach today. Most people use cryptocurrencies for investment and trading because they can earn the same profit as you.

You can give them a satisfactory answer because you are a trader and have been trading for 2 years. At least you already have experience of what you feel while using crypto.

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They were concerned that if the internet were to go down today I would lose all my investments.?

The internet going down is almost impossible
there exist no switch or central command that can be destroyed
Even in the face of nuclear weapon the internet would still stand strong
Only the region would b affected not the internet
Anything that brings down the internet
Would be something that can threaten our survival or all electronics
Assuming it shuts down
The Bitcoin blockchain will stop producing new block
But would resume once the internet is back on
The internet is not a want
It's a necessity
Definitely, the goal would b to bring it up if it gets down
In all its unlikely and if it occurs
I believe your investment would be the last thing you would think about.

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They also asked why the currency of cryptocurrencies is valued so highly.?

Short answer Bitcoin potential.
Long answer: Check on the advantages of cryptocurrency and why Bitcoin was created
The 2008 bank crisis brought distrust on investors with saving their money in Banks
Bitcoin was able to create a market from that and unlike fiat money Bitcoin itself is limited in supply and inflation resistant .

Findingnemo

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Quote from: Compromise me on June 18, 2023, 08:41:41 AM

They were concerned that if the internet were to go down today I would lose all my investments.?
They also asked why the currency of cryptocurrencies is valued so highly.?
I thought why not discuss this with my senior. I would like to hear their opinion on this matter.

First of all, the possibility of internet go down completely is zero and if that happens not only crypto the whole world will turn into chaos since most of the running system is based on the internet.

Crypto currency value is based on its demand and supply, if BTC is around 25K then people are ready to buy at that price and that's the simple reason.

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Quote from: Compromise me on June 18, 2023, 08:41:41 AM

Hi Everyone!
Each individual has their own thinking and interest when it comes to cryptocurrency. I have been trading and investing in cryptocurrency for the past two years. Prior to my interest in cryptocurrencies I made investments in various trading markets but I never experienced the level of profit that I have achieved by investing in Bitcoin which is considered the king of cryptocurrencies.

One of my friends asked me a question regarding why I am trading and investing in cryptocurrencies considering that there is no central authority and no physical entity involved. They were concerned that if the internet were to go down today I would lose all my investments.?

They also asked why the currency of cryptocurrencies is valued so highly.?

I thought why not discuss this with my senior. I would like to hear their opinion on this matter.

Op where is your suggestion from the title. Whenever you create a thread, make sure you talk something related to the topic. But in this your case I didn't see anything like suggestion that you made. Well concerning trading and investment. I will not even tell anyone to do trading again because the loss is too high. But investment is the best option in the crypto business

BIT-BENDER

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Although I think it would be impossible for the internet to just go down and even if that happens it would be back up in no distant time but have you asked yourself if that scenario actually happens you losing your Bitcoin would not only be your point of worries, the world is now a technology HUB and many things are running on the internet even your banking system so if it should go down it won't just be the crypto-currency world going into panic virtually everyone should be worried about that.

I believe that your friends are very worried or scared about the financial technology but truth be told that's where we are all headed to, so we would get going cashless and some stores has also adopted very advance form of payment.

Alpha Marine

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Quote from: Compromise me on June 18, 2023, 08:41:41 AM

They were concerned that if the internet were to go down today I would lose all my investments.?

If this is just a thought, then it's fine. I mean, it's okay to imagine things somethings, even if it's weird. I also have a very wild imagination. But if they actually believe that it's possible and that is a reason they have refused to be involved in Bitcoin, then what makes them believe they are in the clear? Is there anyone today that won't lose his investment if the internet goes down?
Even if you don't have anything to do with digital currencies, you have a bank account and you will lose your money if the internet goes down. All companies in the world would lose their investments.
If we think deeper I believe the whole world will be in too much chaos and your investment might not be the first thing on your mind if that happens.

Zaguru12

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Quote from: Compromise me on June 18, 2023, 08:41:41 AM

One of my friends asked me a question regarding why I am trading and investing in cryptocurrencies considering that there is no central authority and no physical entity involved. They were concerned that if the internet were to go down today I would lose all my investments.?

Tell your friend that he shouldn’t worry about authority because bitcoin is actually controlled by the community and any changes to the network will have to reach consensus first. This is by far better than the central authority the government has on fiat currencies which they is use to manipulate the price of it. Concerning the physical entity, the world is evolving and as such many people are beginning to lean towards privacy due to security reason and this non-physical entity provides that. Further more the ability of cryptocurrency not to have a physical or paper currency like fiat will save cost of production and stop the act of devaluation encountered by excess fiat printing.
The internet is not going down now because the world is evolving with it and but just theoretically, should that happen then even the commercial banks will find it difficult not to talk of the CBDC been introduced by the government.

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They also asked why the currency of cryptocurrencies is valued so highly.?

I would limit this answer to only bitcoin, it is very high in value because it is limited in number. The total number that can be in circulation is limited to 21 million and just like other limited assets like gold, this trait makes it a great store of value.

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Quote from: Compromise me on June 18, 2023, 08:41:41 AM

One of my friends asked me a question regarding why I am trading and investing in cryptocurrencies considering that there is no central authority and no physical entity involved. They were concerned that if the internet were to go down today I would lose all my investments.?

If I'll be the one to answer this and curious friends of mine asked me about this, I'll go straight to them. It doesn't matter, I did a little of my research and I'm good. I know what I am doing and what's important to me is that I'm able to profit. And to say that if the internet goes down, it wouldn't just me that will lose a lot but also fortune500 companies.

Quote from: Compromise me on June 18, 2023, 08:41:41 AM

They also asked why the currency of cryptocurrencies is valued so highly.?

I thought why not discuss this with my senior. I would like to hear their opinion on this matter.

It's because of its volatility and that makes it highly valued and many traders and investors liked that much.

tranthidung

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First, your topic title is very bad. I don't know what discussion you want with the topic title.

Quote from: Compromise me on June 18, 2023, 08:41:41 AM

One of my friends asked me a question regarding why I am trading and investing in cryptocurrencies considering that there is no central authority and no physical entity involved.

Altcoins are centralized, Bitcoin is decentralized.

Altcoins like Proof of Stake and Mintable tokens can be minted from thin air. Bitcoin is Proof of Work and it needs physical equipments (ASICs) to mine bitcoin and confirm Bitcoin transactions.

If we don't need any entity behind Bitcoin, we can say the same about altcoins but they are centralized in reality.

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They were concerned that if the internet were to go down today I would lose all my investments.?

No, they are in your non custodial (self custodial) wallets.

You can connect your wallet to Internet somewhere else and access your coins. I don't believe in this world, Internet will disappear forever. We will have more development and adoption like Satellite Internet (like from SpaceX), and off-grid transactions too.

[Total privacy Bitcoin]: off grid Transactions LoRaWan/goTenna

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Quote from: Compromise me on June 18, 2023, 08:41:41 AM

I have been trading and investing in cryptocurrency for the past two years. Prior to my interest in cryptocurrencies I made investments in various trading markets but I never experienced the level of profit that I have achieved by investing in Bitcoin which is considered the king of cryptocurrencies.

Congratulations to you for making good profits in bitcoin investment, even after other types of investments failed you.

Quote from: Compromise me on June 18, 2023, 08:41:41 AM

One of my friends asked me a question regarding why I am trading and investing in cryptocurrencies considering that there is no central authority and no physical entity involved.

At a time people are running from centralization to decentralization, from monitoring and manipulations to independence and freedom, thenyour friend is very much hopeful of the centralized authorities. Tell him the world is leaving him behind.

Quote from: Compromise me on June 18, 2023, 08:41:41 AM

They were concerned that if the internet were to go down today I would lose all my investments.?

Ask them the exact date the internet will go down and again, if the internet goes down, they should name the investments that will remain.

Compromise me

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Hi Everyone!
Each individual has their own thinking and interest when it comes to cryptocurrency. I have been trading and investing in cryptocurrency for the past two years. Prior to my interest in cryptocurrencies I made investments in various trading markets but I never experienced the level of profit that I have achieved by investing in Bitcoin which is considered the king of cryptocurrencies.

One of my friends asked me a question regarding why I am trading and investing in cryptocurrencies considering that there is no central authority and no physical entity involved. They were concerned that if the internet were to go down today I would lose all my investments.?

They also asked why the currency of cryptocurrencies is valued so highly.?

I thought why not discuss this with my senior. I would like to hear their opinion on this matter.

Topic: Suggestion - page 2. (Read 270 times)