Bitcoin is nothing but a virtual currency or a medium of conducting digital transactions, just like any other digital currency. So what make it better than our conventional currency? Lately, the global interest in bitcoins has grown. So, it becomes extremely important to understand the base of this and all other forms of virtual currencies.
Bitcoin, and its alternatives are all based on cryptographic algorithms which are encrypted. This makes the currency decentralized giving ownership to the user.These can be purchased through an online exchange or a Bitcoin ATM. Landmark feature of a bitcoin is that it can curb the chances of fraud and identity thefts, and hence is considered a safe mode of holding money.Bitcoins allow buying of goods and services online, as well as transferring money. Bitcoin is digital and decentralized – With Bitcoin people get the liberty to exchange value without intermediaries which translate to greater control of funds and lower fees. It’s faster, cheaper, more secure and immutable.
Cash is controlled by banks while bitcoin has owners.Ease of online shopping. As we already know, Bitcoin can help us do online shopping. It’s like an e-wallet which can be created blockchain technology to store, track and spend digital money. I particularly like to use it on my favorite gambling site called Vegas Casino due to fact that they provide quality service.Bitcoin has a global acceptance and is less volatile than cash / local currency. Due to this feature, it becomes easier to conduct transactions across boundaries and online.
The underlying technology behind bitcoin, which is, blockchain is what makes or breaks it. Thousands of computers in a distributed network use cryptographic techniques to create a permanent, public record of every single Bitcoin transaction that has ever occurred. This record will be very valuable for various things besides tracking payment. While there is no real way of tracking cash. Great tool for investment- Bitcoin can be used all over the world without going through a conversion process. It is considered at par with Gold and combines the best of cash and gold while providing an open market and no restrictions imposed by banks or governments. Bitcoin is peer-to-peer and open, yet secure and nearly frictionless - Bitcoin allows exchanging value over the internet without any intermediary and gives its users access to their balance through a password known as a private key. So it’s private, secure and at the same time,open. There is no way of duplicating a bitcoin, unlike cash.
Great way of maintaining records for tax purposes: Once transferred, a bitcoins’ ownership also gets transferred. This means that two people cannot be transacting on the same value and this will help keep records healthy and simpler, especially for tax purposes. There are no boundaries to Bitcoin or cryptocurrency. No exchange values and no third party interventions. Bitcoin allows seamless transactions across nations with a ledger getting maintained at the backend.
Topic: WHAT IS THE IMPORTANCE OF BITCOIN AND THE FUTURE BEHIND IT!! (Read 237 times)
Bitcoin today is the most popular crypto currency on virtual world... and most of the time it is the most convenient currency to use globally without having any issues when regards to transaction fee's, time, and effort.
It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.
Hope you Enjoy reading this!!!
Bitcoin is very important for us who knows about it.The advantages it brings to its holders made us realize how technology changes for the better.An easy payment with fast transaction is very convenient to use most especially to those who are busy with everyday living.Better future lies the hands of every bitcoiner if they know how this works and not to go panic when bullish days comes. It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.
Hope you Enjoy reading this!!!
The emergence of Bitcoin has sparked a debate about its future and that of other cryptocurrencies. Despite Bitcoin’s recent issues, its success since its 2009 launch has inspired the creation of alternative cryptocurrencies such as Litecoin, Ripple and MintChip. A cryptocurrency that aspires to become part of the mainstream financial system would have to satisfy very divergent criteria. While that possibility looks remote, there is little doubt that Bitcoin’s success or failure in dealing with the challenges it faces may determine the fortunes of other cryptocurrencies in the years ahead.
There are several importance of bitcoin such as how secure it is and the ease at which it can be transferred from one unique address to the other. Bitcoin is the future currency of the world.
This is what I like most as cryptocurrency of bitcoin easy to use and can transfer payment without hassle. The importance of bitcoin is really helpful where we can use a store of value and as medium of payment. It's attract users to have bitcoin easy to use. Bitcoin today is the most popular crypto currency on virtual world... and most of the time it is the most convenient currency to use globally without having any issues when regards to transaction fee's, time, and effort.
It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.
Hope you Enjoy reading this!!!
Agree with you.It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.
Hope you Enjoy reading this!!!
Bitcoin is the future not only of the economy, but the technology of blockchain will be used in other spheres of life.
The fact that the digital currency is widely used around the world as a trading asset or a means of payment proves its usability and growing predominance. For those wishing to advance in the financial world, bitcoin is a suitable solution. It is also a solution for those who live in countries with weak economies.
I am sure that in the near future the bitcoin rate will grow and now is the best time to buy bitcoin and other crypto currency.
The purpose of Bitcoin's creation was already great..Be a worldwide payment instrument..He did it too..But recently Bitcoin has started to be seen as an investment vehicle..This causes too much manipulation.
Do you think Bitcoin Markets today are Manipulated?
The purpose of Bitcoin's creation was already great..Be a worldwide payment instrument..He did it too..But recently Bitcoin has started to be seen as an investment vehicle..This causes too much manipulation.
There are several importance of bitcoin such as how secure it is and the ease at which it can be transferred from one unique address to the other. Bitcoin is the future currency of the world.
Even if bitcoins becomes a mainstream currency accepted by governments as a legal currency ,I don't think fiat /paper currency will be abolished or become obsolete. It will operate in addition with bitcoins. Bitcoins is important but cant be oversubscribe by fiat in the future.
Yeah you're right unless all will use it...
Even if bitcoins becomes a mainstream currency accepted by governments as a legal currency ,I don't think fiat /paper currency will be abolished or become obsolete. It will operate in addition with bitcoins. Bitcoins is important but cant be oversubscribe by fiat in the future.
Bitcoin today is the most popular crypto currency on virtual world... and most of the time it is the most convenient currency to use globally without having any issues when regards to transaction fee's, time, and effort.
It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.
Hope you Enjoy reading this!!!
Merit this Post for more informative articles....
I can find hundreds of such articles on the internet, I just need to type "what is bitcoin and what is the use"?It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.
Hope you Enjoy reading this!!!
Merit this Post for more informative articles....
whether you make this up yourself or you search it on the internet then paste it here...
In my opinion, the importance of bitcoin that is its technology, this technology is the innovation for people which will help us make information safe and transparent
About the future behind Bitcoin, i think it have a good future, Crypto will be applied a lots in people life, make our life easiler, safer,... and the most important I think it will be used in the 4th Revolution
About the future behind Bitcoin, i think it have a good future, Crypto will be applied a lots in people life, make our life easiler, safer,... and the most important I think it will be used in the 4th Revolution
Someone sent this to me the other day.
Quote
Do you know what "hard money" is?
Hard money is a good that serves as money and cannot produced easily in big quantities. First, money has three functions:
1. Medium of Exchange
2. Store of Value
3. Unit of Account
To achieve the first it must be salable across time and space and it must be accepted.
For the second point it must hold its value for a extended period of time.
And for the third it must be divisible.
Fiat-money has 1. and 3. but lacks the Store-of-Value aspect.
Why?
Because fiat-currencies have a low Stock-to-Flow ratio.
Let me explain this ratio...
"stock" is the ammount of the monetary good that is already in circulation and it involves the whole amount that ever was produced.
"flow" refers to new units of this good that are or will be produced.
So, if a good has a low stock-to-flow ratio it means that new units of this monetary good can be produced easily and if a monetary good has a high stock-to-flow ratio - it means that new units can't be produced easily. The higher the stock-to-flow ratio the higher the quality of a Store-of-Value, the "harder" the money.
For example, in ancient times Seashells were used as money, the rarer they were the more valuable. Because of the high stock-to-flow ratio. Now industrialisation began and with modern Boots and steam engines and what not the seashells could be pulled out of the ocean in far more easily and in large quantities. The stock-to-flow ratio sunk and with it the use of Seashells as money. Seashells were superseded with something that was hard to produce. Monetary medals set in and Gold established its status as the leader, because it was indestructible and the rarest.
For centuries, every government currency was backed by Gold, this was turned over to finance World War 1, but that is another story.
Till this day, central Banks keep large reserves of Gold, because they know what they don't admit: hard money is far more valuable than "easy money".
Gold has a very high stock-to flow ratio because it is hard to produce. And it doesn't matter how much Gold they pull out of the earthcrust in one year it cannot rise by more than 2.6% on the flow side. Because there is so much Gold circulating around the globe, it was used as SoV for hundreds of years.
Now Bitcoin comes into play, BTC is the hardest money that was ever invented since the first ape turned to man (or however the evolution happened). It has a fixed supply (as opposed to Gold) and its flow-ratio halves every 4 years. That is the best Store-of-Value currency that exists and its stock-to-flow ratio is as high as it gets. Plus it is easy to transport, can't be seized by governments if stored properly and can be transferred far more easier than Gold.
Don't let anyone fool you by saying "BTC has no intrinsic value", it has. And now you know why.
Hard money is a good that serves as money and cannot produced easily in big quantities. First, money has three functions:
1. Medium of Exchange
2. Store of Value
3. Unit of Account
To achieve the first it must be salable across time and space and it must be accepted.
For the second point it must hold its value for a extended period of time.
And for the third it must be divisible.
Fiat-money has 1. and 3. but lacks the Store-of-Value aspect.
Why?
Because fiat-currencies have a low Stock-to-Flow ratio.
Let me explain this ratio...
"stock" is the ammount of the monetary good that is already in circulation and it involves the whole amount that ever was produced.
"flow" refers to new units of this good that are or will be produced.
So, if a good has a low stock-to-flow ratio it means that new units of this monetary good can be produced easily and if a monetary good has a high stock-to-flow ratio - it means that new units can't be produced easily. The higher the stock-to-flow ratio the higher the quality of a Store-of-Value, the "harder" the money.
For example, in ancient times Seashells were used as money, the rarer they were the more valuable. Because of the high stock-to-flow ratio. Now industrialisation began and with modern Boots and steam engines and what not the seashells could be pulled out of the ocean in far more easily and in large quantities. The stock-to-flow ratio sunk and with it the use of Seashells as money. Seashells were superseded with something that was hard to produce. Monetary medals set in and Gold established its status as the leader, because it was indestructible and the rarest.
For centuries, every government currency was backed by Gold, this was turned over to finance World War 1, but that is another story.
Till this day, central Banks keep large reserves of Gold, because they know what they don't admit: hard money is far more valuable than "easy money".
Gold has a very high stock-to flow ratio because it is hard to produce. And it doesn't matter how much Gold they pull out of the earthcrust in one year it cannot rise by more than 2.6% on the flow side. Because there is so much Gold circulating around the globe, it was used as SoV for hundreds of years.
Now Bitcoin comes into play, BTC is the hardest money that was ever invented since the first ape turned to man (or however the evolution happened). It has a fixed supply (as opposed to Gold) and its flow-ratio halves every 4 years. That is the best Store-of-Value currency that exists and its stock-to-flow ratio is as high as it gets. Plus it is easy to transport, can't be seized by governments if stored properly and can be transferred far more easier than Gold.
Don't let anyone fool you by saying "BTC has no intrinsic value", it has. And now you know why.
Bitcoin today is the most popular crypto currency on virtual world... and most of the time it is the most convenient currency to use globally without having any issues when regards to transaction fee's, time, and effort.
It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.
Hope you Enjoy reading this!!!
Merit this Post for more informative articles....
I can find hundreds of such articles on the internet, I just need to type "what is bitcoin and what is the use"?It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.
Hope you Enjoy reading this!!!
Merit this Post for more informative articles....
whether you make this up yourself or you search it on the internet then paste it here...
Bitcoin today is the most popular crypto currency on virtual world... and most of the time it is the most convenient currency to use globally without having any issues when regards to transaction fee's, time, and effort.
It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.
Hope you Enjoy reading this!!!
It will save your day by standing on the line or waiting for a days to confirm payments and most specially the safest way to handling big amount of money and do a transactions. And the best part of it you don't need to keep the receipt on a bunch file of paper and find all those doc's just in case you needed it. Everybody needs someone like that if it is possible, and yet Bitcoin Exist in accordance of that LAW and NATURE. So if everyone know's about Bitcoin, the future of BITCOIN will show how FIAT/PAPER money will totally replace by Virtual Currency and soon reduce the volatility as it is common and usually use for every transactions in every seconds, minute, and all of the time. And that's a historic phenomenon about BITCOIN.
Hope you Enjoy reading this!!!
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