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Topic: Trying to make sense of bitcoin - page 2. (Read 431 times)

mk4
legendary
Activity: 2870
Merit: 3873
Paldo.io 🤖
July 14, 2019, 10:08:55 PM
#10
as i always say, you can always create a better coin than bitcoin since bitcoin isn't perfect. but to do so you will have to spend a lot of time and innovate
Yeap. And if some developer actually has a good idea to improve a cryptocurrency, chances are, they might be able to implement it to Bitcoin instead of creating another new coin.

But then again, anything can happen really.
legendary
Activity: 3472
Merit: 10611
July 14, 2019, 09:59:48 PM
#9
Why can't anyone else create a coin that can be used worldwide,
But.. Bitcoin is already a coin that can be used worldwide though? Why would you create more coin unnecessarily?

as i always say, you can always create a better coin than bitcoin since bitcoin isn't perfect. but to do so you will have to spend a lot of time and innovate and that is something that none of the current developers in this space are interested in which is why we have not seen anything better than bitcoin.
otherwise anybody can create and have created coins that can be used worldwide but "can be used" does not mean "will be used".
mk4
legendary
Activity: 2870
Merit: 3873
Paldo.io 🤖
July 14, 2019, 09:39:54 PM
#8
Why can't anyone else create a coin that can be used worldwide,
But.. Bitcoin is already a coin that can be used worldwide though? Why would you create more coin unnecessarily?

why do bitcoin and altcoins have the same value all over the world?
Because open markets.

What is the benefit of a retailer or business in US letting its customers pay via bitcoin?
Visa fees suck as far as I know. Not sure how less of a fee services like BitPay has though.

How do you trade bitcoin?
Through exchanges. The best exchange to use depends on what country you're in.
copper member
Activity: 2142
Merit: 1305
Limited in number. Limitless in potential.
July 14, 2019, 06:55:21 PM
#7
Bitcoin and altcoins have different values. Bitcoin is valued more because it is unique and unrepeatable. The rest of the altcoins are just following him.
You misinterpret what he's referring to, I guess what actually he's talking is why the price have almost the same value while there are many exchanges all over the world, and confused where the price is based.
member
Activity: 921
Merit: 10
July 14, 2019, 06:50:21 PM
#6
Bitcoin and altcoins have different values. Bitcoin is valued more because it is unique and unrepeatable. The rest of the altcoins are just following him.
copper member
Activity: 2142
Merit: 1305
Limited in number. Limitless in potential.
July 14, 2019, 06:07:02 PM
#5
What is the benefit of a retailer or business in US letting its customers pay via bitcoin?
All coins whether, BTC, altcoin, tokens can be used worldwide through p2p transactions, it's just that officials on some countries are afraid and stupid enough that's they banned cryptocurrencies instead of regulating it, it will boost their economy if handled correctly but no, all they want is to corrupt.

why do bitcoin and altcoins have the same value all over the world?
It's not but mostly the same, markets decided it, depending on what exchange they're using.

What is the benefit of a retailer or business in US letting its customers pay via bitcoin?
The same thing to trading, some of them hodl and store their holdings for long term then sell if they take profits. Also, to have more options of payment, since anyone can use BTC without any international fees barrier that charges too high.

How do you trade bitcoin?
Simple, buy low sell high, but it's not easy as you do. It's to broad to explain maybe you should read some on google. Just remember that no one can predict the value of BTC, all of them are pure speculations.

legendary
Activity: 3374
Merit: 3095
Playbet.io - Crypto Casino and Sportsbook
July 14, 2019, 06:00:20 PM
#4
New to bitcoin but having problems understanding it.  Why can't anyone else create a coin that can be used worldwide, why do bitcoin and altcoins have the same value all over the world?
Bitcoin is actually used worldwide they don't need to create another one but since other developers want to replace Bitcoin ranking position they make another coin. There are many altcoins created every year and until now no one could replace the bitcoin position.

Both bitcoin and altcoins have a different value you can check them from here https://coingecko.com/en or https://coinmarketcap.com/

What is the benefit of a retailer or business in US letting its customers pay via bitcoin?
I think the only benefits you can get in bitcoin if you accept bitcoin as payment is getting all transaction wirelessly and secured compared to debit/credit card.
There are many shops locally that accept bitcoin as payment and they are increasing.

Check these threads and links below to check those businesses that accept bitcoin as payment.

- https://bitcointalksearch.org/topic/the-ultimate-list-of-places-that-accept-bitcoin-and-cryptocurrencies-2540474
- https://bitcointalksearch.org/topic/restaurants-accepting-bitcoin-1765181
- Who Accepts Bitcoin? 7 Major Companies
- Who Accepts Bitcoin as Payment? From Who Accepts Bitcoins in 2019? Massive List

How do you trade bitcoin?
Just as simple as buying low and then sell when the price is high.
legendary
Activity: 3346
Merit: 3130
July 14, 2019, 05:52:48 PM
#3
Why can't anyone else create a coin that can be used worldwide?
Because not anyone has the knowledge to do it, but all the information is on the web, this way, in theory, anyone can do it.

why do bitcoin and altcoins have the same value all over the world?
Because the exchanges are webpages, so, anyone in the world can buy from the same exchanges...

What is the benefit of a retailer or business in US letting its customers pay via bitcoin?
the benefit is that now that business will get new customers because there are not many places to spend the bitcoins.

How do you trade bitcoin?
On exchanges, take a look at this list and visit some sites: https://coinmarketcap.com/rankings/exchanges/
legendary
Activity: 1232
Merit: 1080
July 14, 2019, 05:43:03 PM
#2
Anyone that has the skills can create a altcoin that can be used worldwide just like many are over in the altcoin sub forum of this forum. However Bitcoin was the original cryptocurrency and thus it has a certain stigma about it. Plus the fundamentals behind it are very well done and don't really need too much improvement. There are a number of other different altcoins which are worth your time if you are interested in their features.

The benefit isn't really for the retailer currently unless they believe Bitcoin will continue rising then accepting Bitcoin could be a lucrative option if they were to cash out at higher amounts. The reason people are using Bitcoin is because its decentralized and brings back control to the people using the currency rather than the centralized banking system.

You generate a Bitcoin address through a Bitcoin wallet such as Bitcoin core or Electrum and you send your address to people and they can send Bitcoin to it in exchange for whatever you have agreed upon. Think of it as a much longer account number for a bank and you don't need a sort code or any other information.
newbie
Activity: 23
Merit: 0
July 14, 2019, 05:27:07 PM
#1
New to bitcoin but having problems understanding it.  Why can't anyone else create a coin that can be used worldwide, why do bitcoin and altcoins have the same value all over the world?

What is the benefit of a retailer or business in US letting its customers pay via bitcoin?

How do you trade bitcoin?
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