What are your thoughts on cryptocurrencies & Bitcoin? Do you invest on them too?
★ SUMMARY ★
Let’s take a look at what is a crypto currency and then I’ll answer the question on my thoughts of investing in these kinds of vehicles.
Here we’re taking a look at Wikipedia to take a look at what a crypto currency is, of course, not everything on the internet is 100% true, so you should always take it with a grain of salt or some context. But in general, to give you some ideas and for you to do some research, basically a crypto currency is a medium of exchange using cryptography to secure the transaction and control the creation of new units.
Now we have money or cash, and now with the digital currency, they’re trying to do something a little more different to make the exchange of a value more effective or more anonymous, maybe more in the digital underground world.
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How do you feel about Cryptocurrencies now?
MtGox is not Bitcoin. Not at all. Also, it's monetary policy is deflationary. Your concerns are prima facie not real issues. Enjoy your videos though.
Sasha , what do you think of Bitcoin now in December 2017 ??
sasha, i'm sorry for your loss
#Blockchain technology is the the pure gold here! ? But… #Cryptocurrency is a fad! The one thing bitcoin enthusiast won't realize! Buffoons! ?
It's certainly true that one shouldn't invest in unstable currency. But the important question is, is such currency really unstable? Certainly wikipedia won't be enough to know the answer for that. To answer that you'd need to understand how the technology works. The more you understand it, the more you see it's potential. And then you realize that others have also put time understanding it.
I would however agree that crypto-currencies when compared to fast-food is way way more risky.
Unlike the Euro, bitcoin’ supply is modeled on commodities rather than conventional currencies. Its limited supply and the growing difficulty in mining should, depending on adoption rates, deliver a “fairly predictable” upward path. Bitcoin is becoming more stable over time.
Also, the bitcoin block reward which is the new supply of bitcoin every ten minutes will be halved (apprx every four years) in July from 25BTC to 12.5BTC. The supply is controlled. There are currently just over 15.5 million in existence with a preset maximum of 21 million and the last Bitcoin won't be mined until 2140 leaving transaction fees to pay the miners.
My favorite cryptocurrency is DigitalNote which I expect to go up 20 fold this year and once it catches on; 1000x. DigitalNote is an untraceable cryptocurrency and I expect it to be the ''cash' of the internet.
Bitcoin has a market cap of over seven billion USD which is just a drop in the bucket compared to that of fiat currencies (which are being devalued).
I agree, I'd rather have consistency and stability than unnecessary risk for a "jackpot" trade.
They have the potential to have an enormous market cap in the next decade or so. I am fully expecting them to be worth several thousand dollars per coin.