First of all, you need to sign up for an Bitdenex account. Your Bitdenex account is a secure place to store your Bitcoins. Unfortunately, you can’t exchange your local currency into bitcoin without registered account. Based on the current laws and regulations, you must have a registered account to be able to trade cryptocurrency.
The KYC and AML policy does not allow to trade anonymously. That’s the main reason why you have to sign up for an account, unless you only want to try the FREE account. For the free account, you only need an email address.
You need to verify your Bitdenex account, after you sign up. In order to verify your Bitdenex account, you need to provide some documentation.
When all the details are correct, your Bitdenex account will be open to trade. Once the verification steps are complete, you can start trading.
To complete your account, you need to do some verification steps before you can fully use your registered Bitdenex account. Go through the verification steps and add the necessary documents. After you add the documents, we will check those and complete the verification after all documents are correct.
We always show you the current exchange rate before you trade. Bitdenex don’t determine the prices. The traders determine the prices, so make sure you check the rate before you place your order or limit order.
Trade whenever, wherever and always online.
Nowadays people spend more and more time on their mobile devices and tablets. To ensure that visitors who access Bitdenex from mobile devices have a great experience on the device. Apart from optimizing the web view, Bitdenex is soon launching the mobile apps for Android and IOS users to unlock the power of better connection with people.
More Information about Bitcoin
A very common question that is asked in today’s society, specifically in the investment world and people who are ready to add money for further growth.
Is it too late to buy Bitcoin?
Well, think of it this way. Although Bitcoin could drop at any
second, so could any
stock or index fund. But are the chances of an index fund
dropping high? Absolutely not.
The economy could drop at anytime. Bitcoin could fail at
anytime. But is this probable?
Well, look at Bitcoin’s previous price action. It has steadily
increased for the past 33
months. This can change at anytime, but really assess the
situation.
Do you believe in Bitcoin?
Do you feel that it’s the future of payment and technological
monetary systems? If so,
then invest. Nobody can make the decision for you, and nobody
can tell you what’s going
to happen to the price. Nobody knows for sure, so it is really
up to you make your own
decisions; however from a normal person’s point of view, someone
who wants to invest
with the idea of “I want long term growth to the maximum that I
can achieve”, this is
the perfect option, at least from a person who has watched it
steadily increase real
time.
Conclusion
Bitcoin is a statement, it’s a political belief to an extent. It
stands for
decentralization in the monetary system and stands for a free
economic world in which
you control your own payment and have the security, and the
anonymity that you deserve
as an American citizen. Bitcoin stands for something much more
than “internet money”. It
is in its early adoption phase as well; there’s a common saying
that revolves around
crypto-oriented message boards that says, “The best time to buy
Bitcoin was 4 years ago.
The next best time is now.”
A very large controversy that occurs within the spectrum of cryptocurrencies and understanding its true value is the argument between cryptocurrencies and gold.
Has Bitcoin become more important than Gold?
Specifically, many people have begun to believe that Bitcoin is
more important to
society and to holding a value than gold is. While the subject
is very much so up for
debate, there are multiple factors that must be taken into
consideration before you make
a conclusion and take a side on either opinion. To start, we
must look at the facts, the
pros and cons between each one as well. Gold has been around for
ages at a time. Gold
has served as a physical and malleable commodity that holds
value that fluctuates over
time, and while we can’t secure that it will be worth something
at a given time, we can
assure that it is physically here and will always be here.
Disadvantages of Bitcoin
That’s the advantage that gold holds over Bitcoin, at least when
you’re holding Bitcoin
on an exchange instead of personally possessing keys and such.
Gold has a physical value
that has been around for ages, it can be physically touched,
carried, and so on. To the
general public, Bitcoin can’t do the same. Although Bitcoin
addresses can be extracted
and possessed through a series of keys (private and public) that
can be physically
owned, most people don’t have the knowledge to do that.
Bitcoin Exchanges
Most keep their Bitcoin in exchanges or paper wallets that are
online companies to say
the least. However, gold is also a very dated form of value
holding. While some swear by
it, some believe it is slowly reaching its inevitable demise.
Conclusion
Bitcoin is a virtual currency that is given value through the
process of the world wide
web. In order for it to lose value the entire network would have
to go down, which is
the advantage but disadvantage that it will always have over
gold.
Thinking of the future is definitely worrying especially if you’re trying to understand what the Bitcoin price will be after the upcoming fluctuations it has faced in the past year.
Grow Bitcoin
If Bitcoin continues to grow and expand at the rate that it
currently has been
increasing at, price will reach unprecedented amounts, reaching
as much as $100,000 in
the next 5 years. However, this isn’t anywhere near guaranteed
but looking at
possibilities is essential especially if you’re looking into
holding Bitcoin as a
possible long term investment. The only real thing we have to go
on as of right now is
previous price action and the possibilities of history repeating
itself.
Bitcoin 5 years ago
5 years ago Bitcoin was at prices of nowhere near its current
capacity. This capacity
was approximately $100 per coin, at some points in the year even
less than that. 5 years
later it has reached waves of adoption into society and has
continued to garner
investors and traders alike that no other commodity or stock has
received.
Bitcoin has bigger market capital than PayPal
It has surpassed the market cap of major companies such as
PayPal and shown incredible
progress. Also, Bitcoin has achieved investors and backers like
never before. It has
received some support from huge technological moguls that have
stated the future is in
Bitcoin and that it is unstoppable.
Conclusion
All of this news is very bullish, and has some backing that no
other currencies or
commodities have reached before. If we take all this into
consideration, the future is
looking very bright. So going off of this, many speculators say
that Bitcoin will reach
even higher amounts in the future, which is completely possible
but there is nothing set
in stone, but only a high probability that the price action of
Bitcoin will attain some
huge milestones within the next 5 years.
After you reach a certain amount of Bitcoin, you might see the huge potential that it has and be interested in buying more than just a few Bitcoin with your debit card.
To determine the future with Bitcoins
At this point you might want to buy thousands of dollars worth
of the asset and hold it
in your portfolio with hopes of it booming and you living
lavishly in a mansion all off
of this pretty little asset people at one point called internet
money.
So what steps are next?
All exchanges that hold amounts of Bitcoin that are higher than
the normal standard
amount require you to provide multiple amounts of information
that not only verify your
identity but also verify your bank account, residence, and
purposes of income. This can
vary per exchange, so taking into consideration one of the
biggest exchanges for buying
bulk Bitcoin.
Verification to purchase Bitcoins
5 Tiers of Verification are required in order to purchase a
larger amount of that same
asset. These tiers start out with standard verifications. In all
cases you’ll be
required to provide ID, either a passport or driver’s license.
In addition, most
exchanges require you to show a proof of residence associated
with your listed address.
This will range from a bank statement to a utility bill, or
current lease proof. This
can be negotiated with staff members of the exchange as well as
they will usually guide
you through the process. Final verification processes are
usually checks with your bank
that will start with generally the exchange contacting your bank
and asking about
certain questions about you and verifying your identity.
Conclusion
Certain exchanges generally only take wire transfers for large
bulk Bitcoin buys, so
it’s best to always have control over your bank account that is
linked to the exchange
you plan on purchasing some Bitcoin from.
One of the biggest controversies in the crypto world is the
developers and people behind
the
active development of these currencies.
Development
Primarily, when people heard of the release and development of
Bitcoin, it was then
released under a pseudonym. It raised some serious questions;
why a pseudonym? What was
there to hide about this currency, and why would someone release
this marvelous
technology under an anonymous name? It sparked some serious
controversies during the
early development phases of Bitcoin.
Power of anonymous publisher
Later, however unbeknownst to the developers and releasers of
the technology this
currency would prove to become stronger by the fact that it was
released anonymously.
The concept behind Bitcoin is that it isn’t controlled or owned
by anyone. There’s no
leading factor that guides it, there’s no single person, agency,
or government that
controls it. This in essence is what helps it to be such a
strong currency. Satoshi
Nakamoto released the currency under an anonymous name so that
later on there would be
no one that created it, no one that led its development.
Risks
Otherwise it would risk attaining the status of being
centralized. By releasing the
currency under an anonymous name, Nakamoto was able to attain
the status of
decentralized in Bitcoin. People were wow-ed by the fact that
something with no known
and recognized creator was able to create such a powerful and
successful method of
purchasing and selling items and making near instant
transactions.
Anonymity
To this date, no one knows who Satoshi Nakamoto is. His profile
has remained anonymous,
and the only known fact about him, or them, is that he/she/they
are very rich with the
amount of Bitcoins they possess at the moment.
Conclusion
While people have looked at Bitcoin as a seemingly viable way of
gaining money through
short term investments, Nakamoto stayed true to the fact that he
wanted Bitcoin to be a
way of making anonymous and decentralized payments, and that is
what has propelled the
success behind Bitcoin. There’s no controller, no agency,
nothing behind it, just a pure
monetary unit in its purest form.
Sending Bitcoin from address to other address can generally be a little confusing at first if you’re just getting started.
How to send Bitcoins?
Bitcoin is a cryptocurrency that relies on sending and receiving
the crypto through a
network of wallets which contain unique wallet addresses. Each
of these wallet addresses
is unique to one another and different exchanges will yield
different results that you
can use to send and receive them. Think of a Bitcoin wallet as
your personal little bank
with a street address. That street address is generally owned by
an exchange that you
open the wallet on, which you have partial access to. People can
come to your bank and
leave money or you can give money that comes out of this bank.
That is generally what a
wallet is.
Confusion sending Bitcoins
It can be a receiver of money or a sender of money depending on
the type of purchase or
such that you are making. It can get a little confusing in the
sense that wallet
addresses are generally not little codes or words that you can
just create. They are
generated by an exchange and possess usually a random string of
numbers and letters in
different orders in random capitalization processes. These
wallet addresses are unique
to their owner and can possess usually a very large amount of
Bitcoin before being
considered full.
How to send to someone else?
Simply ask for their Bitcoin address, go to the “send” tab on
your exchange, and send
the desired amount of funds. It is usually best done by copying
and pasting so that the
wrong address is not given. Then, you should be able to go to
your recent transactions
list and see where the transaction is, if it is not already
delivered to the person.
Conclusion
When you send Bitcoin your exchange will generally keep you
updated as to where it is as
well, and how soon it will be settled in the receivers wallet.
If you’re unfamiliar with Bitcoin, it may be extremely controversial in the sense that people are always complaining about transaction times. Sometimes they are nearly instant, and sometimes they can take up to hours on end to finally settle.
Speed Bitcoins depends on several factors
The speed at which Bitcoin is sent, received, confirmed, and
considered settled depends
on multiple different factors that rely on each other and are
dependent. For example,
one of the main factors that goes into the speed at which these
transactions are going
to be settled and received is the amount of Bitcoin that is
being sent on the
blockchain. The larger the Bitcoin amount that is being sent,
generally the longer it
will take. This is the general rule of thumb because the
blockchain network takes longer
to process bigger amounts of Bitcoin. So if you’re sending a
full Bitcoin to another
address and then sending 0.01 Bitcoin to another address, you
can bet that the .01
transaction will arrive and settle first. However, this isn’t
the only factor that
affects speed and settlement time; transaction fees are huge and
very overlooked in
today’s world.
Transaction fees
Transaction fees can be toggled and edited to the max capacity
or lower capacity. The
higher fee you activate, the faster your transaction will be
processed, but generally
the more expensive that same transaction will end up being. You
can usually toggle the
amount of the transaction fee you wish to enable on most
exchanges or wallets. Electrum
allows you full customization over this.
Conclusion
It is generally widely common to enable a large transaction fee
when sending large
amounts of Bitcoin, since otherwise it will take a pretty long
amount of time for the
transaction to finally be acquired. A general rule of thumb is,
the lower the volume of
Bitcoin, the lower transaction needed, and vice versa when in
reference to larger
Bitcoin volumes.
One of the best things about Bitcoin is that it has been referred to as being trader’s heaven. Traders in the general world are faced with a plethora of obstacles that are generally really hard to overcome.
Pattern Day Trader
In the stock market, one of the biggest obstacles that are in
the way for traders is the
Pattern Day Trader rule. What this means it that if you’re
trading account is under
$25,000, you’re not allowed to make more than 3 trades within
the same day. It can reach
extreme limits, and because of this many people very limited to
what they’re able to do
with their funds.
Bitcoin is the solution
Bitcoin offers some great relief from this in various ways.
Generally, Bitcoin allows
you to make infinite amounts of trades within the same day,
unlike the regulated stock
market. With this, you can make as many trades in the same day
as you would like. You
can absolutely trade Bitcoin like people trade the stock market
or the foreign exchange
market. There are various ways that you can go about this; you
can margin trade, regular
trade, and so on. Various exchanges offer different types of
safe havens and methods of
obtaining a trading platform.
Conclusion
Most exchanges offer the most common forms of exchanges to be
accepted as well. This can
range from Bitcoin to US Dollars, Bitcoin to Euros, Bitcoin to
British Pounds, and so
on. Most platforms allow you to trade cryptocurrencies as a
whole as well. With these
platforms, you are also able to make trades at any time of the
day unlike general stock
markets and Forex; there are no limits to when you can trade.
It’s no secret that Bitcoin has some huge price volatility, especially if you look at the recent months there has been some serious ups and downs when it comes to price action.
Multiple Actions
This calls for multiple actions: one, if you are using margin
for certain Bitcoin
positions it might be best to realize your profit sooner rather
than later. This way you
don’t lose more than what you initially bargained for. This has
been a very frequent
occurrence with traders, especially with Bitcoin; sometimes you
just have to say that
profit is profit and today might not be the day you become a
crypto millionaire.
Why is this?
Well Bitcoin has some huge price swings sometimes, especially on
certain exchanges. When
these swings occur, it will probably bounce back in the same
amount of time, however,
the first negative bounce may be big enough for your entire
margin position to be
closed.
Don’t invest more than you
can afford to
lose
When this margin balance is closed, you lose the entire
investment you started out with;
with Bitcoin especially it’s very important that you keep the
idea of “Don’t invest more
than you can afford to lose”, in your mind. This is essential
because it is very much so
better to be safe than sorry. Of course this doesn’t mean that
you should take risks
some time; sometimes you should just go out on a limb and take a
risk and say yeah I
believe that this price will happen in this amount of time.
Conclusion
But in the markets, there are always monkey wrenches that are
thrown in, and good
investors and traders keep this at the back of their mind at all
times. Otherwise you
could be seen as being naive and this could cost your wallets
additionally if you fail
to recognize that sometimes the markets are not going to be in
your favor.
One of Bitcoin’s huge advantages over other payment methods is its ability to become somewhat anonymous, if the proper precautions are taken in maintaining your personal security, Bitcoin can be regarded as being anonymous.
Why is this, and why is it so important in today’s world?
Well, many are fearful of what happens when you centralize your
currency and centralize
markets in today’s world. It’s common, and not misunderstood.
People care about their
security, without a doubt. People are scared of credit card
fraud, they’re scared of
losing their whole lives savings in a matter of seconds due to
hackers, and they’re
scared of what happens when someone looks at their pin code when
utilizing an ATM
machine.
Safety
Bitcoin offers a safe haven for those are scared of making
publicly recognized
transactions. Maybe you don’t want a payment showing up on your
bank statement, maybe
you don’t want the public banks to recognize and show a certain
thing you bought at a
store or online. Bitcoin offers the remedy for this. It offers a
revolutionary option
for those who are concerned with online and monetary anonymity.
How anonymous is Bitcoin actually?
Bitcoin anonymity offers a limited availability however. You
need certain precautions
before you can assure that your anonymity is secured and not
being monitored by others,
but basic anonymity is definitely an option with Bitcoin.
Thousands have flocked to
Bitcoin for just the basic anonymity of payments. It allows you
to make payments you
might simply not want available to those in government positions
and such.
Conclusion
Anonymity is essential in today’s world, and it’s not bad
because you want secure and
anonymous payments. Bitcoin offers this solution, and by
obtaining a simple Bitcoin
paper wallet, you ensure your anonymity to a certain extent. I’m
not saying that the
transaction is gone forever and lost in the blockchain and
undetectable, but I’m saying
for basic security purposes, Bitcoin is the perfect answer to
just making private
payments that are your own to manage.
In the financial markets world lots of times you’ll hear the phrases of Bulls and Bears.
Wall Street
This is usually in reference to Wall Street and opinions on the
market if you’re
unaware, and they are commonly referenced when speaking in terms
of Bitcoin now as well.
Since Bitcoin is an upcoming currency that is not yet officially
recognized by the
financial sectors that are official such as the SEC, and so on
there is a somewhat
negative connotation about its growth.
Bitcoin Bubble
If you believe that Bitcoin is a bubble, that it is just a fad,
and that the price will
go down undoubtedly, you will be referenced to as being a
Bitcoin Bear. Bears are
usually investors of people who believe certain prices are going
downward rather than
upward and are usually falling over long periods of time. These
people also believe that
certain beliefs are just waves of interest, or they are just
phases and Bubbles. Bulls,
on the other hand are people are who believe that prices are
going positively in an
upward price action. Bulls are people who believe positively and
enforce positivity in
the markets and are generally expecting price levels and price
action to increase.
Bitcoin Bulls and Bears
This applies just the same way for Bitcoin. Bitcoin Bulls are
people who believe in its
power and people who believe the price will steadily increase
over the next few years.
You will generally hear these two terms being used coordinately
with one another as they
are parallel. When price action is looking to be increasing over
a period of time (Let’s
say for 1 week price is steady increasing), this is said to be
in a bullish phase.
However, when the market is looking at steadily decreasing price
action, this is
generally the sign of a bearish phase.
Conclusion
You’ll hear these two terms used very often in the financial
world.
The recent bullish run that Bitcoin has had in 2017 has been incredible to watch, especially if you’re a real time cryptocurrency investor.
Increase in value
Since the beginning of the year, the crypto has launched into
quadruple its starting
value at the start of the year. Marketcap has increased to
surpass 50 Billion, and
extremely high value investors are looking to Bitcoin for future
unit of account.
Payment Method
What started as somewhat of a technological fad has grown and
morphed into a huge
investment opportunity for many investors, especially those who
are serious about
investing in long term options that can be the start of a
technological revolution.
What fuelled this run exactly?
It’s unclear at this point since the storm is actually still
brewing, but many believe
it to be the implementation and activation of Segregated Witness
into the blockchain.
What this means is faster Bitcoin transactions and therefore
faster payments. The recent
bull run has shown that Bitcoin at this point isn’t a bubble,
and should be taken
seriously by investors of all types. The recent increase in
price can be put on multiple
factors; however, first and foremost it should be a clear signal
to all that this
cryptocurrency is a way of the future and will revolutionize the
way that we make
payments within the future.
New Generation
In a generation that is completely filled with technology and
ever growing technological
advancements, cryptocurrencies fit perfectly into place. It’s no
wonder that steeply
climbing price at this point isn’t showing many signs at slowing
down considering that
the currency has been adapted in multiple Asian countries and
has become a very high
profile target for huge investment agencies such as Goldman
Sachs and Wells Fargo who
have recently invested millions into the further research of
blockchain technology.
Conclusion
We can definitely see further advancements in its technology
within the future.
A large problem for many new investors mainly and for new users of Bitcoin in using payment systems that vary from online marketplaces to in real life stores is the speed of transaction.
Concern about transaction speed Bitcoins
Many people are concerned at the speed at which these
transactions take to confirm on
the blockchain network, and some are concerned in their wait
time as sometimes it may
reach up to days for a transaction to confirm. There is a very
widely unknown trick
however, as you can use Bitcoin transaction accelerator to ease
transactions and make
them confirm on the blockchain network faster than originally
intended to do. There are
some restrictions however; I know many users who try to use
Bitcoin as forms of payment
online find that they are waiting a little while for these
transactions to speed up.
Confirmation times have been increasingly climbing in terms of
waiting time which is
definitely no surprise. With the ever increasing demand for
Bitcoins and their usage,
especially their recent public adaptation, the Blockchain is
definitely bound to be
backed up for some time.
Processing time Bitcoins
Blockchain.info contains a great tool used for making these
transactions faster however.
Located on their site, hover over to transaction accelerator and
there is an area where
the user can enter their transaction ID.
Transaction ID
On many exchanges, the transaction ID is located under the
confirmation details and in
the area where you can check where on the blockchain it is
located. Copy and paste this
txID and then the transaction should be confirming within a
couple of hours. This is
proven to help backed up transactions that have been stuck in
the blockchain for a
while. This transaction accelerator helps to confirm
transactions on the blockchain
through ViaBTC’s mining pool.
Conclusion
This way your transactions can be confirmed and proven much
faster than without it.
Turning on the financial news now a days, you can almost guarantee that there’s some headlining news arrival that involves Bitcoin.
Big attention Bitcoins
Bitcoin in recent years has garnered large amounts of attention
for multiple reasons.
There’s lots of things brewing in the cryptocurrency world,
whether it’s faster
transaction speeds, the ability to anonymously make payments,
and so on; the list
seemingly never ends. This has without a doubt garnered
attention from investors as
well. Investors and major hedge funds have begun looking at
Bitcoin because of its
ability to bounce back from huge losses and percentage cutters.
Security Bitcoins
A quick look at Bitcoin’s overall YTD chart and you can
immediately tell that Bitcoin is
unlike any other securities to which is has recently been
compared. Bitcoin has taken
losses of nearly 50% at a time and has found the momentum to
bounce back from these
losses in huge ways. From attaining public status and attention
from financial moguls,
Bitcoin keeps bouncing back from price drops. Take for instance,
last year when Bitcoin
was in the 900s range. This was the first big drop when Bitcoin
dropped to nearly 600,
over 30% decrease in a mere 3 days. This shocked everyone, and
people began to doubt
Bitcoin’s value. Within 24 hours however, price steadily
increased back to its original
price and beyond. This seemed to be the first instance.
Recovery Bitcoin after relapse
The next big recovery was during last March during the time
period when the Winklevoss
asked the SEC to open a Bitcoin trust. After the trust was
denied, price dropped. Within
a week however, Bitcoin hit new highs after positive news of an
appeal of the decline
was released. Looking at every recent drop in price that ranges
from huge numbers such
as 30-50%.
Conclusion
Bitcoin has been able to steadily increase back to new highs
each and every time, which
amazes investors and consumers alike.
If you’re a longtime Bitcoin investor, then you more than likely have heard of the Winkelvoss twins; however, if you’re an avid Facebook user or have looked into the history of Facebook before, you will for sure have heard of the Winklevoss twins.
Facebook and Bitcoins
The Winklevoss twins were involved in a lawsuit in the mid-2000s
that claimed Mark
Zuckerberg, the owner and creator of Facebook stole the idea of
Facebook from them and
did not give them any recognition. The twins took Zuckerberg to
court and reached a
conclusion with a cash settlement nowhere near Facebook’s value.
The twins didn’t take
this to heart however; they decided to focus their attention on
currencies and attaining
a popular decentralized currency that was anonymouslyand
securely avid.
Their find? Bitcoin!
The Winklevoss Twins then decided to focus their entire funds
and investments into the
development and progress of Bitcoin. With both of their large
power in the financial
world, they were able to become one of the main heads of
Bitcoin. Some have even labeled
them as the God fathers of Bitcoin. The Winklevoss Twins created
their own Bitcoin
exchange with over 100,000 members, which is Gemini, widely used
in the crypto world.
So what does this have to do with anything?
Well the twins applied Bitcoin as an ETF to the SEC, which would
be a huge step in the
positive direction for Bitcoin. The ETF was originally denied,
which dropped Bitcoin’s
price over 30%; however the SEC announced that the denial would
be reviewed, and appeal
process was put into place. With many countries adapting crypto
legalization, this now
seems like a much more likely event.
Conclusion
The Winklevoss twins have also claimed to own more than 1% of
all Bitcoins in
circulation; an outstanding number which resulted in them being
able to open such a
successful exchange.
Bitcoin runs on extremely advanced technology, that’s without a no brainer. There’s much to be discovered in the crypto world that has not been uncovered yet, including its true potential in the public world.
Bitcoins and underground world
However, in the underground world, Bitcoin has been thoroughly
discovered. So why is
Bitcoin so attractive to criminals, as many people seem to
biasedly believe? The answer
lies in multiple factors. For one, Bitcoin runs on blockchain
technology which allows
for, if taken the correct steps, anonymity to take place. This
allows many people to
make transactions that can’t be detailed by the government or
law enforcements, at least
on the outer edge. It takes police and law enforcement agencies
a lot of technology,
warrants, and in depth analysis to be able to prove in a court
of law that a purchase
was made by a specific person through Bitcoin. This allows many
people, who are doing
either shady, or maybe even non-shady things, to hide their
transactions and real
purchases.
The importance of Bitcoin
Although, I don’t agree that this is the main reason at all
behind the importance and
value of Bitcoin, many people who aren’t very knowledgeable in
the subject tend to jump
to these similar conclusions about Bitcoin. Bitcoin allows for
anonymous purchases and
reasonable doubt to come into play for committing crimes online.
These are factors that
are attractive to criminal, factually. Also, Bitcoin has
previously been used to launder
money. Since it’s so advanced in technology at the moment,
there’s not a lot of room to
monitor these “Secret” transactions.
Conclusion
However, in essence, this can be why they are so attractive to
those who are trying to
complete secret transactions. Although it has this “sketchy”
connotation, many people
have since adapted to it to have a simply technologically
advanced vibe to it, rather
than this negative “criminal” vibe. However, with this
advancement in technology, it
isn’t hard to understand why it is so attractive to those in the
underground world.
Any internet or computer enthusiast who occasionally turns on the news to check out financial reports and technological settings is no stranger to seeing that Bitcoin has taken up the public spot since its beginning of public adaptation.
Starting with Bitcoins
Many people have begun to back Bitcoin for various reasons.
Since its technology has
been discovered as being advanced and superior to that of some
of the most advanced
banking systems and transferring platforms, many public figures
have begun to explain
their support of Bitcoin and its future.
Janet Yellen and Bitcoins
One of the biggest and first examples of the public backing
Bitcoin with political
influence was Janet Yellen, chair of the Fed Reserve. When Janet
Yellen first heard of
the blockchain technology, it is rumored that she hired a group
of programmers and
computer scientists to explain it to her. After this meeting,
Janet Yellen invested
millions into further research and development in the technology
in a funding project
that aimed at progressing financial systems to levels they have
not been able to reach
yet. After news of this, Bitcoin price obviously jumped; with
Janet Yellen backing the
crypto currency, this was probably one of the biggest leaps in
progress to adopt Bitcoin
to the general public. Janet Yellen saw the opportunity that
Bitcoin and the blockchain
technology possessed and continued to back it.
After Janet Yellen
After her, many other followed. Some of these figures include
Bill Gates, tech mogul who
stated Bitcoin is not stoppable. That it would continue to grow
to unprecedented amounts
and capability in a short period of time with this upcoming
digital age. John MacAfee
claimed that Bitcoin had tons of room for serious growth
including up to what he
believed to be $500,000 value of one coin.
Conclusion
These public figures have furthered Bitcoin’s adoption to
general public using it, which
has been major.
Back in mid-2016 Bitcoin prices were beginning to hit areas of the hundreds amount; 300-500 around there, and showed that there was some potential in the upcoming technology.
Volatility of Bitcoin
People were cautious about it since it showed previous extreme
volatility and had proven
to fall in value very rapidly before. This had scared big time
investors, however one
man made a bold prediction in its price action.
Kim Dotcom
That person was Kim Dotcom, the man arrested and charged with
piracy accusations for
development and running of “MegaUpload”, a cloud sharing
platform that showed importance
in emphasizing decentralization. Bitcoin, to him, was a gateway
into further
decentralization and freedom amongst making financial payments.
Free economy
It was possibly the future into making some major payments in a
free economy, or what he
believed to be a free economy. Kim emphasized that Bitcoin was
going to be worth more
than $1000 by the end of a 1 year mark. Many people laughed and
wrote it off as
accusations of being crazy. Fast forward to less than a year
forward, and Bitcoin
reached its previously attained thousand dollar price mark. This
proved to be a bold
movement in price prediction.
More trust
It led the way for future confidence in making Bitcoin’s price
predictions, which has
since been attained by major banks and investment firms that
release these predictions
to their clients such as Goldman Sachs, Wells Fargo, and future
banks that adopted
Bitcoin as important things to watch for in the future. Kim
Dotcoms price prediction
proved to be more than 4x fold correct.
Conclusion
Bitcoin, in the time period of his prediction reached levels of
up to $3000 dollars,
more than his price prediction even could imagine. Since then,
watching this real time
investors have begun to fear Bitcoin and its ability to be a
major investment
opportunity for common investors.
Bitcoin possesses a major “black market” connotation due to the involvement of it being the main currency used to make secret payments through the Silk Road, the platform used to purchase drugs and other illegal items.
Power of Bitcoin in Underworld
When the federal law enforcement agencies heard wind of this,
they began to be
extremely
fearful of this since it proved to be a powerful currency that
adapted extreme
power,
not even they could currently control.
Discovery Silkroad
Fast forward a couple months after Silk Road’s adoption to the
public and there
were
methods that not even advanced computer scientists could crack
in terms of
attaining the
profits gained through the website. People were fearful, and the
FBI launched a
global
investigation to take down the alleged marketplace. There was
widespread actions
taken
to capture the people behind the marketplace and eventually
their greed caught
up to
them, leading to their arrest.
Fraud by agents
However, when the people were caught, law enforcement agents who
got close to
the
Bitcoin wallets that were associated with the criminals took
liberties to
transfer
payments to their own wallets. Millions of dollars worth of
funds (Today worth
billions), disappeared out of thin air. 2 agents, were solely
convicted for
stealing
these funds. The thought alone, however left thousands in shock.
If law
enforcement
agents thought they were above the technology in the current
world through
utilizing
Bitcoin, imagine what the general public would assume to
believe? It proved
Bitcoin’s
technological superiority and showed it truly could not be
stopped. The case was
further
investigated and showed that millions of dollars worth of extra
funds went
missing
during the case to take down these criminals.
Conclusion
There was tons of money missing, which only led to one
assumption; crooked cops
took the
liberty of smuggling these funds and turned into one of the
biggest
controversies of the
modern technological world. Bitcoin attained technological
legendary status
after this
case.
There are many scams on the internet and life, alike, that state they are easy ways of getting free Bitcoin.
Free Bitcoins
Faucets are a dated take on this however, as they actively
assist in giving away
Bitcoin
to the public in exchange for advertisement revenue, or simply
public knowledge
of
certain figures. In essence, this is key in Bitcoin becoming
great for public
adoption.
Bitcoin is focused on being huge in terms of public purchases,
acquisitions,and
so on.
There’s much controversy on what it will become in the future,
but faucets are
mutually
beneficial ways of giving Bitcoin for free. Faucets give away
fractions of
Bitcoin in
exchange for revenue gained off of the website. Although they
are not viable
ways of
gaining serious gains off of the currency, they are definitely a
great way of
getting
your hands on some Bitcoin if you’re interested in it and how it
works.
How to get free Bitcoins?
Visiting faucets is very easy to do, and all that’s required is
an active
Bitcoin wallet
address that you can send and receive payments from. Once this
is activated, all
that’s
required is you pasting your active address into the sections
asked. You’ll only
receive
very small portions but this is great for spreading awareness on
the currency.
Trust in Bitcoin grows
Faucets are great to spread awareness basically. Showing them to
your friends
and family
will allow them to freely use Bitcoin and make some small
transactions to
understand how
Bitcoin works and to get a taste of how the process goes when
using Bitcoin for
transactions.
Conclusion
Faucets are not new to the crypto scene; they’ve been around for
many years but
they
have continued to stay as viable ways of giving away the
currency for public
adoption.
This is great if you’re a user and avid Bitcoin supporter who
wants the public
adoption
phase to continue at rapid rates.
Bitcoin prices have been jumping in recent months, that’s a definite that many people have since been understanding. The reasoning behind these huge advancements however is unknown to many in the crypto scene.
Japan into Bitcoins
Without a doubt, it has to due with Japan’s recent inclusion of
Bitcoin into the
legal
payment system. There’s since been a huge increase in the amount
of people that
have
been including Bitcoin as active payment methods in Japan;
imagine paying for
your food,
your laundry, or a simple candy bar at a store straight with
Bitcoin. This
advancement
is a wonder to many, but it is a great way for people to start
learning and
using
Bitcoin.
Volatility in Crypto World by Japan
Japan has been a huge reason why prices are jumping in the
crypto world because
it’s day
by day increasing in availability and as a method of payment in
Asia. It’s not
uncommon
these days in Asia to see signs that say “Bitcoin Accepted
Here”, which is still
a slow
moving process in the United States. These advancements are day
by day becoming
greater
in Japan and Asian countries alike. This is becoming known as
the public
adoption phase.
Payments with Bitcoin is reality now
What this means essentially is that Bitcoin is slowly becoming
adopted to the
public as
a form of payment. People are finally being able to use Bitcoin
in everyday life
rather
than just online forms of payment. Many internet businesses have
been accepting
Bitcoin,
but Japan’s government specifically allowed Bitcoin to become
accepted as a
legal
payment method at stores and such.
Conclusion
This is revolutionary as it truly shows the importance and
acceptance of Bitcoin
as a
monetary unit and store of value in the Asian economy. In every
single form of
payment
and monetary unit that existed, this is the beginning of its
worldwide adoption
and
usage. Many don’t understand that by simply legally accepting
Bitcoin at stores
and as a
form of payment, its usage and price action will increase ten
fold just by this
simple
fact.
If you’ve been watching the news and paying attention to Bitcoin price action in recent weeks (August and July), you without a doubt have heard of the supposed hard fork that occurred in early August.
What exactly happened?
Did Bitcoin split in two? Is the currency now 2 forces that are
completely
different?
Yes and no. The answer is a complicated one, that’s without a
doubt, but one
that can
definitely be understood in time. What happened essentially, in
everyday terms
is that
the currency split, one side split off of the other. The coin
that split off was
named
“Bitcoin Cash”, while the main coin remained “Bitcoin”. Bitcoin
cash was thought
to be
the future of crypto currency, at least within the first moments
of its release.
Price
action in Bitcoin cash spiked in its futures, and especially the
first moments
of its
release. It briefly reached periods of huge increase which were
over 400% of its
first
values, which would top Bitcoin’s!
Great, right?
Not really. Moments later, Bitcoin Cash started to tumble back
down losing over
30% on
its first day of release. People thought it to be just a rough
start, but then
the loss
of percentage continued over the next few days, and has since
continued until
mid-August. Bitcoin Cash has since been regarded as an Alt-Coin
in its inability
to
properly compete, or work in combination with Bitcoin.
Conclusion
Although Bitcoin Cash does offer some technical advancements
over the regular
Bitcoin,
it isn’t advanced as some might see; it has been regarded as a
“Whale”
opportunity by
some recent purchasers, however, that is all up for personal
opinion. The recent
argument is whether or not Bitcoin Cash is a true split of
Bitcoin, or is it
just
another Alt Coin like Ripple, Dash, or Ethereum.
August 1 marked the day of some serious concern for Bitcoin investors, traders, and simple users alike.
Split in Blockchain
The Blockchain was believed to create some huge splits that
would then lead to huge
declines in Bitcoin price. Many feared what would occur because
of this split so many
panic sold, a common investment phenomenon that leads to rapid
price drop. Early in
July, we saw Bitcoin price reach lows of $1800, nearly 50%
decline in overall price
action in less than a week. It definitely spooked some people,
but once the negativity
that surrounded August 1 and the Bitcoin split, Bitcoin reached
some huge prosperity.
Bitcoin after splitting
Fears of Bitcoin’s split finally started to wear off when its
“split” Bitcoin Cash began
to tumble in price value. Many thought that Bitcoin Cash would
become its alter
competitor and would surpass it in terms of price and value.
When the fear finally wore
off, Bitcoin prospered in price action. It increased ten fold,
because the fear that
occurred finally went away and people realized that the split
wasn’t anything major to
fear, at least right now. The brief panic that accompanied its
value also disappeared.
Strong growth after splitting
Bitcoin then managed to reach new all-time highs over 5 times in
the period of 3 days.
It increased over 50% in less than 2 weeks, and reached its 4
fold value on the year to
date. This was revolutionary and meant that Bitcoin was here to
stay. We saw the fear,
and we saw the recovery, something that Bitcoin is not
unfamiliar with.
Conclusion
Once again, the fear of the fork led to its price drop and then
immediate price
recovery. Bitcoin once again showed that it could bounce back
from serious fear in the
markets. The Bitcoin Fork was regarded by many as being
seriously fearful events, but
led to just the opposite when it showed its strength through
market fear.
With the idea that Bitcoin payments and transactions are anonymous, it can be a common question to ask, to what extent are these payments truly “anonymous” and what can I expect to show up when looking at my previous transactions. The answer is not simple, but definitely obtainable.
Bitcoin extents
Bitcoin anonymity really depends on the extents to which you’re
able to make it
anonymous. Bitcoin is an online cryptocurrency, which makes it
very different
from
banking and using withdrawal systems that are available in
public banking
systems today.
Bitcoin offers a large room for making sure your security,
identity, and
anonymity is
all in tact when making online payments. Its more secure and
anonymous than most
monetary systems available in the United States, but to what
extent?
You decide how anonymous you want to be
It is up to the user. This is what makes Bitcoin so sought
after, because the
option for
anonymity and security in your payment really depends on your
own input. Yes
Bitcoin is
a great option for making payments and such but it is really up
to you to make
this
happen and ensure anonymity. Proper precautions should always be
taken when
making
online payments with Bitcoin especially if you want your
identity to remain
unbeknownst
to the public. Looking up proper precautions to undertake for
anonymity are
perfectly
legal and should be on the agenda of all those looking to secure
their identity
with
online payment systems.
Conclusion
They are great options for payments but the idea that they are
completely
foolproof is
wrong. Proper precautions should always be taken by everyday
users of the
payment. You
can’t simply become anonymous with the click of a few buttons,
you must ensure
this with
your own actions. Nobody can simply click a few buttons and
become invincible.
Always
make sure you take the right procedures to keep safety and
security at the
forefront of
your priorities.
Taxation can obviously serve as a barrier for many people who are profiting majorly off of the Bitcoin and crypto scene as of right now.
Obstacles
There’s lots in the way of liquefying and making funds available
for your
Bitcoins, but
the area in terms of that is very gray as of right now at least.
Depending on
what sort
of transaction and method of making the funds available for
yourself, putting
Bitcoin
gains on your taxing for certain purposes really depends on the
type of gain
that you
make to attain that profit. Bitcoin profits really depend on the
type of
transactions
that are undergone to attain this profit or loss.
Make a profit with Bitcoins
Of course, profits will not count in terms of representing
certain profits on
your
taxing purposes, but gains and profits are required. Whether or
not you’re
cashing out
really depends on the further procedures that will need to be
underwent.
Tax rules
Of course if you are holding onto Bitcoin during certain taxing
periods, you
need not to
worry about further actions that need to be taken. Cashing out
or profiting on
these
however is really where the worry comes into play.
Payment of Bitcoins
If you have cashed out on your Bitcoin you should discuss your
further actions
through a
series of accountants or possibly a series of financial
advisors. They have a
better
understanding of how the taxing procedure works, and although it
is not even
that
in-depthly regarded and regulated by agencies such as the SEC,
it is still
highly
advised to consult with advisors or certain people about your
profits.
Conclusion
Taxing will not be huge, but will definitely be needed if you
don’t want a
certain
agency or company contacting you and taken more funds than
needed originally.
Hopefully
these uncertain areas are clarified within the near future
however, because many
are
asking questions of how to proceed.
Obtaining Bitcoin is obviously a lot harder than one might expect when you first get settled in the crypto scene.
Obstacles
There’s definitely many obstacles that come in the way when
you’re trying to
just get
your hands on some simple Cryptos, however, many exchanges and
companies have
attempted
to ease the process of just buying and getting a hold on some
crypto currencies.
These
companies have ranged and differed from companies.
Bitdenex
Bitdenex have all made it somewhat easy to attain Bitcoin with
just your debit
card.
However, there are some catches involved. Most exchanges and
distributing
platforms
require that before you get access to these keys and Bitcoin,
that you provide
identification verification; this may vary from uploading
pictures of your ID,
driver’s
license, and so on.
Safety procedures
There are different procedures needed to undergo before you get
complete access
to debit
card buyable Bitcoin. In addition to these verifications, you
might also need to
include
your home address, current state of residence, and so on, this
is all assuming
you
reside in the United States. Obtaining Bitcoin with a Debit Card
is somewhat
easy, as
long as you’re not looking to purchase these without
verification or without a
sole
purpose that is other than to make perfectly legal and viewable
purchases.
Easily make purchases with Bitcoins
Debit Card purchases with Bitcoin are also easier than they
might seem at first
look.
This is for multiple reasons, one of the main reasons being
because by providing
your
Debit Card information you’re basically verifying that you’re
not using Bitcoin
for any
illegal or shady activity, at least initially. Exchanges can
then easily verify
that
your identity and make sure this is the correct purchases that
is making the
specified
purchase.
Conclusion
Debit Card purchases are somewhat accessible by nearly all who
have Debit Cards
as long
as one has certain items that can backup and verify purchases or
identity.
There’s a famous saying that states, “It takes money to make money”, and especially in the case of Bitcoin this is very true.
Bitcoin is profitable
Bitcoin has proven to be one of the most profitable and quickly
liquefiable
assets in
the history of investment and the financial world. With all of
this being said,
it’s
important to note that without money, you can’t make money.
Let’s take for
example the
fact that Bitcoin has risen 30% in the last 2 weeks as of
writing this
currently. This a
very impressive number, but we have to take into consideration
the fact that 30%
of a
number is not an instant get rich quick scheme.
Price movements Bitcoin
Also, Bitcoin has some extreme volatile periods in its price
movement, so to
assume that
it’s going to be a straight up positively sloped line is naive
and will get you
to lose
money if you’re not holding for longer periods of time.
Investment wise, Bitcoin
is a
safehaven. At least at this point so far in our history, Bitcoin
has shown
positive
growth that outnumbers any sort of digital asset or commodity
that has ever
existed at
unprecedented rates.
Bullish Bitcoin
I’m not saying you should dump your life savings into Bitcoin,
but it’s been
more
promising and better in terms of rates of return than Gold has
in its entire
existence.
There’s been an incredible amount of growth that has since been
slowly
stabilizing.
Short sellers have been wiped out of their positions, so this
means Bitcoin has
shown a
very bullish connotation. 30% of $100 is $30. Good right? Well
take 30% of
$1000. That’s
$300. Even better. But 30% of $10000? That’s nearly $3000.
Conclusion
Bitcoin has made a lot of people rich in the past months. It has
increased
nearly four
fold since its year beginning and has shown some incredible
movements in terms
of
positive price action. If it seems too good to be true then it
probably is, but
with
Bitcoin some people have literally turned that into a reality.
Bitcoin mining started off as an incredible hobby that turned out to be a million dollar profit making procedure. People from all over the country flocked to these new methods of obtaining power and electricity to be able to mine Bitcoin blocks.
Bitcoin Mining Method
This is partly due to the fact that it would yield very high
amounts of return
in the
long run, but also due to the fact that with enough power,
there’s essentially a
very
large profit-to liability margin involved. Take for example, the
fact that some
people
own offices that they generally pay low rates of electricity to
run. There’s
large room
for computers that would be set up to mine Bitcoins essentially.
There’s lots of
things
that go into this, involving lots of liabilities but if you can
mine more than
you
spend, you’re essentially creating Bitcoin that goes straight
into your wallet.
Procedures for Bitcoin mining
Certain mining procedures also take a lot of time. These miners,
which are
typically
large computers and powerfully created with integrated
processors specifically
designed
to mine Bitcoin, may cost you a lot when running your
electricity to it. These
things
can be pivotal in ensuring that you profit from Bitcoin mining
and don’t just
end up
being in massive debt due to unplanned expenses. From a regular
user
perspective, mining
can be more in depth than it might appear. Learning terminology
involving mining
and
learning the actual mining process is an entire different
monster from actually
just
purchasing and using Bitcoin.
Conclusion
The things that must be undergone to attain Bitcoin from mining
and not just
buying it
is a different process and generally should just be furthered
research before
dumping
your entire life savings on a mining setup that runs off of
continuous
electricity. Be
sure to also learn the basics of Bitcoin and compute electricity
costs for
further
confirmation.
Bitcoin has been referenced in many futuristic-associated articles and that sort of concept in terms of popular media and popular culture.
Phases of Bitcoin
There’s many types of adoption phases that a certain phenomenon
must go through
in order
to obtain the status of being truly revolutionary and
implementary in everyday
society.
Bitcoin is definitely not far behind in terms of becoming an
extremely long
lasting
investment that could truly revolutionize the way that payments
are made.
However, if we
truly look at society and its feelings towards Bitcoin, we can
grasp a better
understanding of where the crypto is in terms of being publicly
adapted into
society.
Uncertainty about Bitcoin
Many people are still wondering what it truly is. If you ask any
person in
today’s
complex technological society what Bitcoin is, the majority is
confused. They
don’t get
it; they think it’s internet money, and that’s it. Although this
is true,
there’s much
more to it, and much more that could become important in order
to become useful
in
today’s society. With an extremely high volatile price action,
and an apparent
bullish
run over the last 33 months, we can safely say that Bitcoin is
currently in the
public
adoption phase of becoming a technological asset in society.
What this means, is
that
Bitcoin isn’t secured in our everyday lives.
Bitcoin acceptance in society
We still have a lot of growing to do and teaching to do to those
who are
unfamiliar with
its capabilities, meaning it is in the process of being accepted
into our
society. This
means multiple things, mainly, that in most people’s’ opinions,
it is not too
late to
invest in Bitcoin.
Conclusion
The world is finally waking up to Bitcoin and understanding its
power, and
slowly but
surely coming to understand that the cryptocurrency is here to
stay, and has
extreme
power that most don’t even understand yet.
If you’ve been lurking the recent Bitcoin news you’re probably familiar with the new SegWit term that has been recently activated in the blockchain network.
Segwit and Blockchain
First, you have to look at the fact and information that is
associated with the
blockchain network. Blockchain transactions can only be
activated up to a
certain amount
of block size which is what basically determines the transaction
speeds and
confirmation
times that are usually associated with Bitcoin and the other
cryptocurrencies
that run
off of the blockchain.
So-called “blocks”
When using Bitcoin as a payment system it must confirm amongst
different blocks,
and
these blocks are certain sizes of megabytes. These megabytes
differ from
different
blockchains. If you’ve been looking around certain forums and
such and looked at
the
news you’ve probably heard about the recent “Seg Wit” that has
locked in.
What does that mean?
Segwit will allow for faster and bigger transactions to be
handled in a less
amount of
time. The recent segwith, which stands for segregated witness
will lock in
anytime
within the next month; this is because miners have reached a
certain block space
that
was mined. This confirms that Segregated witness will be
enabled. We saw this
recent
Segregated Witness implemented into Litecoin and its
development. With Segwit
implemented into Litecoin we saw a realtime incredible increase
in overall
transaction
and confirmation speed that occurred globally. The same can be
said for Bitcoin
when
Segwit activates, which can be anytime from now into a couple of
months.
Conclusion
Consequently, you can definitely expect a huge price jump when
this occurs.
Segwit has
also been a very frequently brought up topic in the past with
Bitcoin, as
without it
investors were very hesitant to invest. Now that it is confirmed
to be
implemented we
can see huge increases in price in the near future if everything
goes smoothly.
Although a seemingly “future currency”, it may be a bit deceiving when you actually look at where and at how many locations Bitcoin is actually accepted. The amount of places that publicly accept Bitcoin is relatively low in person.
The Netherlands and Bitcoins
In the Netherlands it is not yet considered a regulated
currency, so you most
likely
can’t spend it in stores or such; and if you do it is very rare
to find, however
many
online businesses and platforms are starting to incorporate
Bitcoin into their
payment
systems as they are truly realizing the positives of owning it
and using it.
There are
many positives that go along with it, and there’s a very big
chance that the
public
starts to adapt Bitcoin at public places soon as well.
Other countries and Bitcoins
We can infer this just by looking at other places that have also
undertake this
sort of
mindset. For example, take a look at Japan; an established
country that
regulated the
currency and now has ease of access to certain payments that
otherwise would not
be
available. The demand for Bitcoin in Japan has begun to jump
recently as well;
people
realize that it’s important, easy, fast, and powerful and
therefore beginning to
adapt
to it. This initiates a very big step in the right direction for
Bitcoin.
However, many
online services such as Amazon have begun to allow Bitcoin
payments. Also, you
can
filter searches for certain products through Bitcoin payments on
Google.
Other parties accepting Bitcoins
Freelancers and clients have also begun to do business through
Bitcoin payments
as it
poses as a good services of escrow if done correctly. Bitcoin
can also be used
for
anonymous purchases and security and privacy will not be an
issue. There are
many shops
online that also accept Bitcoin.
Conclusion
In a sense, many people have believed Bitcoin to be a growing
currency, so it’s
almost
like money that pays for itself. Of course this is somewhat
exaggerated, but
it’s a
great alternative if you’re looking for an investment and
payment system
combination.
Many people however, are scared of certain hackers getting into their information, or just simply are scared and worry for their privacy.
Physical Bitcoins and Bitcoin ATM
So another option and measure that can be undertaken to obtain
Bitcoin in your
wallet is
to purchase Bitcoin physically in person. There are a numerous
different ways to
proceed
about doing this, but one of the biggest and most common ways is
to access a
Bitcoin
ATM. These are actively found at certain locations that can be
found online and
located
through an ATM locator that are available on certain websites
and can be found
by going
there. They are fairly simple to use and don’t require a very
large amount of
effort.
There are some downsides to these methods of obtaining Bitcoin
though.
Transaction fees
at ATM’s are typically extremely expensive. Usually ATM’s will
allow you to
access your
wallet address nearly instantly however, so that is also a very
nice feature
that is
added. The fees associated with using these ATM’s can range from
5-10% so they
are
usually pretty hefty.
P2P Websites for Bitcoins
You can also utilize P2P sites such as Local Bitcoins which
allows you to meet
up with
someone and purchase their Bitcoins in person. These purchases
are usually set
up in
public areas and usually go relatively smoothly. While in some
cases they may
see
somewhat sketchy and unorthodox, the process can be very
convenient especially
if you
want instant Bitcoin and don’t want to go through the hassle of
identification
processes
and all of the other verifications required to set up a working
wallet. This is
usually
gone through if you’d like to buy them anonymously to further
ensure that your
privacy
and such are very well protected in the event of a purchase.
Conclusion
Keeping them and holding onto them can be annoying, however, it
will pay off in
the long
run by going the extra mile. Also, they’re instant!
Unlike other transactions and holdings where chargebacks can be inferred for irresponsible reasons, Bitcoin is truly set in stone.
Send Bitcoins
Once you send Bitcoin to another wallet address, it is truly out
there on the
Blockchain
and is set in stone. It’s gone forever, once it hasbeen sent and
although this
may seem
scary, it is not as intimidating as it might seem. Copying and
pasting wallet
addresses
is extremely easy, and according to analysts it is more common
to mistype your
Bank
account number through a computer than it is to copy and paste a
wallet address.
Irreversible transactions
This makes the user bound to pay more attention to their
transactions and ensure
it’s
going to the right place. This way chargebacks are literally
impossible and a
thing of
the past with the introduction of Bitcoin. Once a contract is
initiated on the
blockchain (for a certain amount of Bitcoin in this scenario),
it is immune to
inflationary practices. Each Bitcoin transaction is a factor of
an initiated
contract
and therefore it is much harder to mess up an order.
Additional security on shipment
In personal experience, I surprisingly don’t know a single
person who has
mistakenly
sent Bitcoin to a different address than what they intended.
Proof of work is a
very
important factor that was implemented into Bitcoin for the
specific purpose of
setting
transactions in stone. Although this will indefinitely cause
some anxiety about
sending
payments that are irreversible, if you take the right
precautions and are
careful about
the addresses that you are sending your money too, this will
definitely be a
factor that
is very easily used for its beneficial aid in the future.
Conclusion
These proof of work implementations are very cool introductions
to the future of
payments. With this computerized proof, we are able to verify
that certain
transactions
are made in real time and are confirmed on both ends in real
time as well. This
will
ensure reliability.
With the introduction of such a seemingly complex and intimidating payment system, it can be scary to adapt to digital currencies, but the fact of the matter is that Bitcoin and cryptocurrencies as a whole is where the industry and technology acts are headed towards.
Future of digital money
This is our future right in front of us, and with each Bitcoin
price boost we
are
witnessing history for the first time. Japan has recently
regulated the online
currency
which, predictably boosted price action up to incredible highs.
What was
predicted to be
a fluke of digital scammers by some, is finally being recognized
as a
respectable
currency form that is as it has proven, is here to stay. Bitcoin
is projected to
be
accepted on many payment systems, and is integrated with more
and more systems
each and
every day. This is the future of payment, and Bitcoin is growing
in its
technological
capability.
Bitcoin has multiple functions
Although it may be cryptic and hard to decipher how Bitcoin
works and how it is
created
and given value, it doesn’t hurt to look into it, because as it
has been proven,
it’s
not going anywhere. In its simplest form, Bitcoin is online
digital money. It’s
basically code that provides value to its user, and although it
can be defined
in a much
more complex manner, this definition goes without saying it has
many features
that other
currencies do not posses. With its recent regulation in some
major countries,
Bitcoin
has become expanding its grips into huge territory.
Conclusion
It’s similar to the introduction of smart phones; when smart
phones were
introduced, old
money was hesitant to adapt to it, but as progress went on with
its development,
old
money literally had no choice but to accept that smartphones
were here to stay,
and once
that was acknowledged, its usage was discovered by all. Bitcoin,
is a parallel
of that.
Some years ago, an internet mogul by the name of Kim Dotcom stated that within a year, Bitcoin would reach $1,000; many laughed at the thought, but then came to the harsh realization that Bitcoin reached not just one thousand, but an insane $3,000 within the time Kim Dotcom stated.
Powerful people and Bitcoin
People need to wake up and start realizing Bitcoin is the
future. Cryptocurrency
has
literally received backing from some of the most powerful people
in the entire
world;
from Janet Yellen, to Bill Gates, from the Federal Reserve, to
multi-trillion
dollar
companies, Cryptocurrencies are being researched and enforced as
it keeps on
growing.
It’s uncontrollable to an amount, and yet people are still
hesitant to look into
it, out
of fear of change.
Positive growth
Bitcoin has shown positive growth months for the past 33 months.
That is more
than some
of the biggest index funds on the stock market, some of the
biggest markets in
the
world. The steady growth and resistance to negative news is
truly incredible and
something that is incomparable to anything we have seen in the
overall market
world of
trading and asset holding. It’d be a lie to say that Bitcoin
never struggles and
takes a
hit, however a common saying in the investing world is “It’s not
about if
something
takes a loss, it’s what happens after said asset takes a loss”.
Bitcoin bounced back
Bitcoin has bounced back from each individual loss it has been
hit with. This is
what’s
important about Bitcoin, and the main factor investors should
start taking it
seriously.
It has broken through negative connotations countless times, and
shows no signs
of
stopping. More and more investors have started looking into
cryptocurrency
investment
and firms are starting to finally realize cryptocurrencies are
the future of
payment.
Conclusion
With this upcoming and positive news, there wouldn’t be a better
time to hop on
Bitcoin.
If you have an app on your phone or a price watcher installed somewhere on your computer you may notice that there will be more than one Bitcoin price depending on the exchange that it runs off of.
Different rates
Generally what this means is that although the Bitcoin price is
relatively going
to be
stable within a certain number frame, different exchanges have
very different
volume
rates going on at the same time which will make it difficult for
its systems to
keep up
to date and stay accurate with the others. You can look at
different exchanges
and see
that certain prices are very different from one another
depending on the type of
exchange they’re running from. If you look at Chinese market
exchange for
Bitcoin it
will generally be much higher than that of one running in the
United States.
Why?
This is because since Bitcoin is legal and a regulated currency
in major Asian
countries
such as Japan. This means the opinion on Bitcoin there is very
bullish and will
therefore mean a majority of the buying demand that comes from
Bitcoin is
located in
China, therefore increasing the Chinese exchange rate for
Bitcoin. Since many of
the
countries in which Bitcoin is a regulated currency are positive
about Bitcoin’s
price
action they consequently drive the price up. Their exchanges
will usually have
higher
exchange rates. This allows for Bitcoin arbitrage that occurs.
Also, many
Bitcoin
exchanges may have different rates comparatively; for example,
Coinbase is
usually at a
different rate than Kraken or Bitdenex because they run off of
different
platforms and
rely on different sources for their information.
Conclusion
If you see different exchanges have different prices, don’t be
alarmed, because
that is
usually the main reason. This can mean a variety of things, not
a bug on your
end; users
should be made aware of this because in most cases it will stop
you from a panic
sell.
There are many Bitcoin Bears who have stated in the past that Bitcoin is just a bubble that will eventually pop. However this is exactly what bears were saying when Bitcoin hit $1000. Then, when it was legalized as a regulated currency in Japan, they said the same thing.
Another milestone
At $2000 it hit another huge milestone and people screamed
bubble again. People
believed
it would pop, however it did not. When Bitcoin was faced with
the huge turmoil
that
involved the blockchain fork, people panic sold and price
dropped nearly 40%;
people
were bearish and were extremely careful with their investments
and how they
handled
them. However, Bitcoin bounced back and proved that it was here
to stay. Now, at
a
currently extremely increased price people have still called
Bitcoin a bubble
that is
going to pop soon. While people have literally became real time
crypto-millionaires,
there are still claims that Bitcoin is a bubble waiting to pop.
Is it?
Looking factually, countries are adapting to Bitcoin and
legalizing it as a
valued
currency. People are easily transacting business in new ways; a
bubble needs to
be
popped, meaning things need to go very wrong. Bitcoin would have
to be a fad in
order
for it be a bubble, and consequently so far it’s not a fad and
it has shown
incredible
increase within the past year.
Bitocin a bubble!
A bubble needs to be a fraud, and Bitcoin has shown it is
literally everything
but that;
it shows positive potential, and although it is entirely a
personal opinion,
Bitcoin
being a bubble at this stage doesn’t look very likely.
Conclusion
This could be because of a variety of reasons, but one of the
major reasons that
it is
believed not to be a bubble is the sole factor that Bitcoin has
shown its
strength as
being a unit of account, a method of exchange, a storage
currency, and much
more. It has
too many fronts to just be a fad.
If we look back at history we can usually see repeating trends in terms of market actions and how they evolve through society and its norms.
Tulip Mania
This can vary from person to person, however, one of the biggest
and most
evident cases
of market action that people refer to very often is the event of
Tulip Mania
that
occurred in the Dutch economy a long time ago, approximately 400
years ago. What
ended
up happening was there was a major increase in the price of
tulips that lasted
about 3-5
months where prices literally boomed.
Get rich quick method
Investors and such flocked to it as it started to look like this
huge way of
getting
rich quick; and just when it reached its peak, the bubble popped
and thousands
of Dutch
people were left broke.
What happened?
It’s still unclear the true reasons behind the Tulip Mania
bubble, however in
today’s
world, many Bitcoin bears tend to refer to this event as the
same as Bitcoin. If
we
compare the two, they’re very different however. Tulip Mania
ended up being an
insane
event where tulips became the price of houses. They became
extremely valuable
and prices
soared because of speculation and other technical specifications
that can be
further
researched.
Bitcoin vs Tulip Mania
Bitcoin isn’t a tulip; it’s a currency that holds literally
value and is used
for real
things and has the potential to change the monetary world. To
compare it to
Tulip Mania
isn’t factually fair. Tulip Mania was a craze of investors and
such that
inflated Tulip
prices in literal months and crashed in the resulting time.
Bitcoin has shown
progressive growth through a series of different level breaking
barriers and has
overcome serious problems.
Conclusion
Bitcoin is a belief in a decentralized currency that stands for
fast and
efficient
payments that can ease the world of the separation we see in
economies; not a
flower
with an inflated price.
Bitcoin has been regarded by many as a stance and a political statement because of its various incredible features.
Decentralized currency
For starters, it is a decentralized currency that allows for
your own input; you
are
your own control and master of the money. There is no central
force that is
behind it
and there is nothing that can control it and limit it. Although
governments can
create
regulations and such, at the moment it is decentralized and is
free to use; you
can
freely send and receive money to anyone, anywhere in the world
for small
transaction
fees.
Essence of Bitcoin
This has led a political movement to spur in essence of Bitcoin
and its reach
for
equality in an economic world. Those behind Bitcoin and those
who are in charge
of
keeping it up to date and such are all behind a freely based
economy, therefore
creating
its own political system stemming from a simple cryptocurrency.
Bitcoin has
birthed its
own political movement by simply existing and will continue to
do so. With the
concept
of a free world in mind, Bitcoin is slowly allowing a global
economic system to
emerge.
Bitcoin technology
Through its usage of technology, it’s the first time that
technology has truly
infiltrated and helped to better money and the monetary system
as a whole. For
example,
for years, technology has helped to advance many fronts except
money. Yes, we
have
digital banking apps and digital balance checks, but a digital
currency? That is
the
future. It’s a statement that says technology is the future and
we can launch
speed,
efficiency, and wealth amongst all through this crypto currency.
Conclusion
Bitcoin stands for something much larger than internet money and
can emerge as
an entire
political belief, one that states belief in the economic freedom
of all and the
importance in technological advancements in the modern era.
Bitcoin has an exponentially increasing volume and market cap that seems to almost never end.
Bitcoin volume
The volume that has grown involves many investors finally
purchasing and trading
Bitcoin
more than ever before and is associated with large investment
firms and such
that want
to get their hands on the crypto currency. For example, the
volume has increased
from
nearly 25 million to 50 million in less than a couple of months;
than shortly
after
passing the 50 million market cap, the market cap surpassed 60
million, reaching
incredible highs. This means not only that the market cap for
Bitcoin is growing
exponentially and faster than most companies at this point, it
means that the
large
market cap promises some sort of price stability.
Bitcoin market cap
Although it does not guarantee anything, it is definitely
promising to know that
the
market cap is nearing some of the biggest companies in the
world. Recently,
Bitcoin’s
market cap surpassed that of PayPal, definitely a major
competitor of it in
terms of
payment processing. PayPal offers great online payment systems
but there are
major flaws
that Bitcoin promises to improve upon. PayPal also took nearly
years to achieve
that
market cap, while Bitcoin’s market cap has attracted major
investors much
faster.
Bitcoin vs large companies
Bitcoin is on track to surpassing some of the major companies in
the financial
industry
in terms of volume and market cap which is a great positive
price indicator.
Also, the
large market cap also promises some sort of confidence in the
fact that it will
continue
growth. The market cap is also growing rapidly. Just after
reaching 50 million,
it
surpassed 60 million nearly a week later.
Conclusion
This shows that Bitcoin is important and people are noticing
this; it’s not a
fad that
people are getting over in nearly a day or so, there is much
more to it than
that.
Like many things such as pollution, world hunger, and many things alike it can be common for a person to wonder, “How can I make a difference when I’m such a small fish in this huge pond of players?” Picking up trash on the street is a small convenience that won’t make a big difference in terms of pollution, but it will influence others to do the same. Then when others do the same, their friends will do the same.
Chain reaction
One action such as this will create a chain reaction and lead to
a positive and
cleaner
environment. Bitcoin is no different from this; in a world where
one person’s
usage can
lead to others usage, spreading the word about Bitcoin and
cryptocurrencies in
terms of
being a decentralized and great way to spread the news and help
others to
understand the
importance of having a say in how your money is being handled.
Essentially just
talking
to your family members and trying to convince them to find out
how to use a
Bitcoin
wallet or send payments can be a great first step.
New generation
We are the new generation that will be reliable for maintaining
the economic
system and
making sure that we’re free and under a righteous economy. We
are the only ones
who have
the power to do that; by simply using Bitcoin as well you are
helping its
implementation
into society. Spread the awareness and the benefits of Bitcoin
with others and
see how
beneficial it can be for the both of you. Many exchanges offer
certain specials
if you
recommend or refer another person to their exchange.
Conclusion
These deals are easy and can help you and another person get
good amounts of
free
Bitcoin. Spreading the word can lead to some huge improvements
in getting
Bitcoin into
the mainstream.
Bitcoin is definitely a very profitable technological asset if you haven’t realized already.
Freedom by Bitcoin
Many people have been able to quit their jobs and live freely on
vacation
without any
worries besides when to make dinner because of cryptocurrencies;
this isn’t
because they
didn’t work for it though. It’s because they saw what Bitcoin
stood for and
continued to
support it, buy it, and watch it grow into thousands and
millions of dollars
worth of
profit.
So how is it possible to make a profit off of it now a days?
The most common answer to that question these days is to
initiate a trading
system in
which you acquire profits off of trading Bitcoin. Yes, it is
definitely possible
to make
profit and make a living off of Bitcoin, however, as most things
if it seems too
good to
be true it probably is. That definitely applies here, especially
in terms of
trading.
Trading Bitcoins
Trading Bitcoin can definitely yield huge profits, but it is
also very high risk
and can
lead to some turmoil and moments of anxiety when negative trades
are made. If
you are
holding Bitcoin longterm and you feel that you are making great
gains off of it,
be sure
to create a dollar cost average system so that you don’t lose
money and you’re
able to
make money and not just have coins that you hold onto forever.
If you’re willing
to
invest a lot of money in it and you truly believe in the
technology, it’s
possible to
make some pretty large gains from Bitcoin.
Conclusion
There’s nothing guaranteed of course, however as many traders,
tech moguls,
public
figures, and general investors have shown it is definitely
possible to make a
very
profitable living off of Bitcoin. It is up top you though, and
how much time
effort and
capital you’re willing to put into the process.
Bitcoin is a somewhat undiscovered and under researched concept in the regular world and the societal norms have not yet adjusted to what Bitcoin is, what it stands for, and so on.
Bitcoin a revolutionary asset
Bitcoin is truly a revolutionary asset that has yet to be really
introduced into
society, which was given it a very “foreign” sort of vibe in
today’s popular
culture.
For example, there is a lot of misunderstanding around it. In
popular culture
every time
someone brings it up and mentions it, whether it’s a TV show,
movie or even a
magazine
it’s usually an explanation of it. People don’t really
understand it, and that’s
commonly understood in today’s society. People don’t know what
it is, and they
think
that it is internet money that doesn’t exist.
Bitcoin – internet
money
In essence, it is much more than that and is very much stronger
and in depth
than just
internet money, however people still believe that to be so. If
people were to
research
it more they would understand it is much more than that. Take
for example, in an
episode
of Family Guy, a popular American TV show, the main character
Peter claims that
Bitcoin
is the answer to the family’s financial problems but has
literally no idea what
it is.
It is comedical obviously, but it holds true to how it parallels
in real life.
We truly
don’t have that strong of an understanding of what Bitcoin is,
at least in the
societal
norm-view.
Conclusion
As a society and as a culture, we have a lot of growing to do
and a lot of
understanding
to come to terms with. Netflix has added a couple of
Bitcoin-related specials
which is
great for public adaptation of it, but we can definitely do much
better than
that. We
have to start teaching the public about it since so many are
starting to
undertake it,
but don’t know what they’re doing with it.
Bitcoin is definitely frowned upon by some of the higher ups, especially those who are in very powerful positions such as the taxation departments, the IRS, and so on, all of them really don’t have positive attitudes towards Bitcoin and what it stands for because a lot of them don’t understand what it is or what it does.
Advantage
This can be a huge advantage for those who do know what it is
and how it works. Bitcoin
has recently been a means of money laundering from many
criminals, for multiple reasons.
Bitcoin is really easy to fake profits from. It’s just a known
fact, and people have
general of this; there’s no way to prove that a transaction
through the blockchain was
made for this specific purpose, it only shows the transaction,
the time, date, amount,
and factual information. It’s not like a bank where you can see
where it came from, for
what company, for what product, and so on.
Gray area
Since there’s such a gray area in this aspect of Bitcoin, it is
easy to fake funds and
profits, therefore leading to criminals laundering through
Bitcoin. This may be a reason
why it is so negatively looked down upon in terms of the
taxation society, because it
can be used to launder money very easily. The IRS has had many
cases where people have
laundered money through Bitcoin but have come up short in
further investigation because
they simply couldn’t prove laundering purposes.
Conclusion
It’s the beauty of Bitcoin that it is decentralized, but can
also be harmful as
criminals can also utilize. This is the main argument that
exists for regulation.
Without regulation, it can be easy for criminals to utilize
Bitcoin for other purposes
than the main purpose, which is to make efficient transactions.
Money laundering has
been around for centuries, however, in terms of Bitcoin the game
changed and law
enforcement has noticed this.
Looking at previous price action of Bitcoin we can see certain events and occurrences that effectively drove Bitcoin price up, and we can see how these events changed the way that the price increased, and at what rates of change.
Market Cap
One of the major indicators that has driven price up is market
cap. When
Bitcoin’s
market cap surpasses a big milestone, or reaches a huge price
mark such as 50
million,
it generally drives price upward. This is because it is
generally a symbol that
the
asset is positively increasing and steadily shifting. A larger
market cap can
also
symbolize consistency. This is a major price driver.
Political or public backing
Another factor that will drive Bitcoin positively is political
or public
backing. This
can range from a major public figure saying that they’re
investing in Bitcoin,
or a
major political positionary (Like Janet Yellen) spending
millions into the
research and
development of the blockchain. It’s not a dying industry, and
each time a public
figure
announces something about Bitcoin, price generally goes up.
Positive price
Another factor that has shown almost consistent positive price
movement is
beating
negative news or rumors. Each time there is negative news or
rumors about
Bitcoin, price
tends to go down. But when these rumors are beat, the price is
the catapulted
upward.
For example, rumors of a fork drove price down; but when these
rumors rolled
over,
prices vaulted upward.
Technological advancement
Another factor that will definitely increase Bitcoin price is
technological
advancement.
Let’s say that Bitcoin speeds its transactions up (Segwit for
example), this is
positive
news and leads to positive increases in price.
Conclusion
This is because investors and traders look for positive
advancements; if Bitcoin
can
process faster, people will want to buy more because they’ll be
able to do
things
faster, and resultingly, investors will want a piece of the pie
because they see
that
people will want to invest when this news is released.
Bitcoin price goes through its positive phases as well as its negative phases; it can go both ways really and there’s no certain way that it’s going to go.
History
All that we can do as third party people with no large say in
the action that
Bitcoin
will go in is to look at previous actions and how they are
affected by what. So
looking
at history, we can look at why Bitcoin prices were driven
downward in the past.
The most
recent example when Bitcoin price decreased drastically was
rumors of the fork
that
would release another Bitcoin that would surpass the original
Bitcoin’s price.
Rumors
These rumors were very strong and the possibilities increased
and people became
fearful.
People began to panic sell a week before the event occurred and
the price
dropped
massively. Rumors that spread are usually bad signs. This can
drive price down,
but can
also be good opportunities to buy in.
Another factor
Another large factor that can lead price to go down is public or
political
influence
upon the regulation of Bitcoin. When Bitcoin was applied as an
ETF, the SEC
denied this
ETF and the price dropped almost instantly. People saw this as
negative news and
got
nervous, so they sold. Of course, the price bounced back when
the SEC said it
would
review its decision, however it did decrease. If a political
figure states that
they
think Bitcoin is negative or not good for our economy, that will
undoubtedly
decrease
prices.
Conclusion
These are main factors that are typically behind negative price
movement in
terms of
Bitcoin since we haven’t seen much of that type of movement.
There’s nothing
that sets
the price action in stone, only speculation that we can judge
from. These
speculations
can be pivotal in predicting price movement however, and can
lead to some great
predictions if done correctly.
One of the most recent implementations that many exchanges have been adding to their lineup and armory in terms of technology and capabilities is margin.
Margin
Coincidentally, one of the most dangerous and risky things that
traders can
possibly do,
yet still do it is utilize margin. Utilizing margin is owning
only a percentage
of an
investment you want to hold. So if an exchange utilizes 5:1
margin you only need
$20 to
own a $100 investment.
Sounds great right?
It’s a great tool, if utilized correctly. Margin can be used to
make or lose
money
almost 5x as fast as you would with your initial capital. It’s a
tool that must
be used
wisely however. Let’s say you make a trading play in which you
invest $100 in
Bitcoin at
10:1 Margin to own $1000 of Bitcoin, and Bitcoin tanks over 10%,
and that $1000
turns
into $900. Your ENTIRE investment is gone. All of your money is
lost and instead
of
losing $10 without margin, you have lost all of your money.
Advice on margin trading
It is highly advised that if you use Bitcoin to only use margin
when you are
absolutely
sure of a play, or if you are absolutely sure you can afford to
lose that money.
The
saying goes, never invest more money than you can afford to lose
and this rings
true
especially in this case. With Bitcoin, you should never invest
more than you
would be
able to lose, as it is a volatile currency; although you can
make a lot in short
amount
of time, you can absolutely lose a lot in a short amount of time
with margin as
well.
Conclusion
Many exchanges allow you to hold large positions at 2:1 to 5:1
margin, however
each
exchange is different. Nothing is ever definite and this should
always be kept
in mind
when investing in Bitcoin as well.
The online gambling scene has slowly been declining. The original online gambling business was booming at first having some huge activity on the internet.
Gambling
It was truly revolutionary in the online sense because for the
first time you
could
literally simulate a gambling process through the internet.
People didn’t have
to go to
casinos or anything of that kind and the entire process usually
had lower fees.
You
could complete one of America’s most loved activities straight
from the comfort
of your
home. Bitcoin truly revolutionizes the online gambling scene
once more, and has
been
recently proving to do just that. For the past couple months,
Bitcoin has
started
becoming implemented into most online gambling scenes for
multiple reasons: for
starters, users that are gambling can receive Bitcoin almost
instantly after a
game or
process is completed.
Examples
Let’s take for example winning an online poker match that is
funded through
Bitcoin: the
winnings can be directly sent to a wallet address making online
gambling faster
and more
efficient than it ever was. Also, since Bitcoin is
decentralized, there is no
main force
that regulates it. You can take that as you want, but instead of
having hundreds
of
barricades and obstacles that need to be broken in order for
gambling winnings
to be
delivered and such, Bitcoin is not regulated so it can in
essence be given out
to many
people.
Anti money laundering
Although you will have to abide by the anti money laundering
laws and the
gambling laws
that are present within the United States, Bitcoin can serve as
an effective
alternative
to US Dollars being gambling winnings, and has already started
being a great
alternative
for gambling.
Conclusion
It also makes sense because it doesn’t have to go through tons
of fees that are
associated with gambling winnings and eventually you’ll be given
more of the net
winnings rather than watered down winnings.
Many times when people discuss the future they’re constantly referring to and talking about the future and what it could possibly hold.
New opportunity
There are many different things that might occur through
Bitcoin’s adaptation
however
nothing for certain. People are looking up new things to add it
to and use it
for
everyday; some of these things include making online payment
systems for stores
and for
online outlets. For example, there’s a lot of different stores
that are now
starting to
support Bitcoin. Through Bitcoin people can create fast and
instant online
payment
systems for their start up companies or new internet businesses.
Future of Bitcoin
Bitcoin in the future may also offer some features that no other
payment system
has
offered before. Bitcoin has shown advancement and increased
focus on many
aspects of the
financial world; contract agreements, escrow payment systems,
online anonymity,
all of
these hold extreme value and can prove to be some of the game
changing factors
that will
help Bitcoin adopt to the public. Bitcoin in the future may also
offer networks
that
will allow for bigger and better business transactions to be
conducted.
Businesses are
always looking for ways that will help to secure and set their
transactions in
stone.
Many people are always looking for security; Bitcoin offers
that.
Privacy
Many people are always paranoid that people are tracking their
identity, that
people
know too much about their payments and about their life; Bitcoin
offers haven
from this.
In the future, developers have promised increased transaction
speed, increased
anonymity
and increased amount of anonymity features.
Conclusion
Bitcoin, as it has shown in recent events will slowly but surely
make its way
into
public usage and adaptation. There is nothing that can known for
sure and
Bitcoin and
the future is definitely bright, but nothing is ever guaranteed.
There are too
many
areas that require modification for it not to.