Is Bitcoin safe?

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Bitcoin is reported to be entering no-go zones because it creates a wave of controversy between the “thin” community and smart digital investors. These digital marketers are trying to get their share of the billion-dollar digital pie a day as the corporate community seeks to curb the spiraling value of what appears to be a “monetary risk.” Some of those who strive to exploit the poor and vulnerable are not getting this because they try to vaccinate the masses in an attempt to quell this growing “digital monster”.
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These seemingly fraudsters continue to place restrictions on how the less fortunate spend their money while trying to build financial cartels around the world, but thanks to digital technology, Bitcoins has revolutionized money control in the 21st!
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Negatives

Despite the growth of cryptocurrencies like Bitcoins, it would be a mistake to not reveal the downsides of these virtual currencies. Due to the fact that their digital footprints are encrypted, they cannot be traced online. Although one enjoys privacy and security when trading, it provides another gateway to conceal and conduct illegal transactions.
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When this happens, drug dealers, terrorists, and other suspected perpetrators will continue to conduct the illegal trade undetected when using Bitcoins.

Positives
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However, in the midst of monetary chaos, bitcoins offer anyone massive investment opportunities and growth potential. No one controls virtual currency as the public can access it in cyberspace and the value continues to rise as society falters in the wreck of inflation.
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A common man on the streets can buy, save, trade, invest and increase his chances of becoming financially successful without interference from government restrictions, credit controls and regulations; Hence, spiral amplifications became a thing of the past.

Many really think that the number one problem in our society is the creation of monopolies. When a company decides to control foreign exchange, gold, and fuel, it uses its power to dictate how the money is spent.
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Regulations put in place by the various large and wealthy companies are only intended to add more wealth and power to their portfolios rather than benefit borrowers seeking financial assistance. In addition, the people at the top are trying to drain the swamp so that others can rely on them while they can get richer but cannot control the digital currency!
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The bright side of the coin

It is time to open the eyes of the world and this is what Bitcoin is all about. Those trying to take over the world are threatened by this Frankenstein, but I doubt they can stop it or make the decision. Currently, 1 Bitcoin is valued at $ 844099.07 Jamaican Dollar or $ 6895.80. The cost of 1 Bitcoin in 2009 was US $ 05!
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What is cryptocurrency?

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Encrypted currency or cryptocurrency (the cryptocurrency of Saxon) is a virtual currency that works on exchanging goods and services through an electronic transaction system without the need to go through any medium. The first cryptocurrency to start trading was Bitcoin in 2009, and since then many other currencies have appeared, with other features such as Litecoin, Ripple, Dogecoin, among others.
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What is the advantage?

When comparing a cryptocurrency to the money in a ticket, the difference is:

They are decentralized: they are not under the control of the bank, the government, or any financial institution

Anonymous: Your privacy is preserved when conducting transactions

They are international: everyone’s opera is with them

They are safe: your coins are yours and from everyone else, kept in a personal wallet with non-transferable tokens that only you know.

It does not have middlemen: the transactions are from person to person

Fast Transaction: For sending money to another country, they charge interest, often it takes days to confirm; With cryptocurrency just a few minutes.

Irrevocable transactions.

Bitcoin and any other virtual currency can be exchanged for any global currency

It cannot be falsified as it is encrypted with a sophisticated encryption system

Unlike currencies, the value of electronic currencies is governed by the oldest rule in the market: supply and demand. “It is currently valued at over $ 1,000, and like stocks, this value can either rise or fall in supply and demand.

What is the origin of Bitcoin?

Bitcoin, the first cryptocurrency created by Satoshi Nakamoto in 2009. He decided to launch a new currency

Its peculiarity is that you can only perform operations within the network of networks.

Bitcoin stands for both the currency, protocol, and red P2P that it is based on.

So, what is Bitcoin?
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Bitcoin is a virtual and intangible currency. That is, you cannot touch any of its shapes as you can with coins or bills, but you can use it as a method of payment in the same way.

In some countries, you can generate income through an electronic debit card page that performs money exchanges using cryptocurrencies such as XAPO. In Argentina, for example, we have more than 200 Bitcoin terminals.

Undoubtedly, what makes Bitcoin different from traditional currencies and other virtual payment methods such as Amazon Coins and Action Coins is decentralization. Bitcoin is not controlled by any government, institution, or financial entity, whether governmental or private, such as the euro, which is controlled by the central bank or the dollar by the United States Federal Reserve.

In Bitcoin, real users control, indirectly through their transactions, through P2 P exchanges (point-to-point or point-to-point). This structure and lack of control makes it impossible for any authority to manipulate its value or cause inflation by producing more quantity. Its production and value depend on the law of supply and demand. There is another interesting detail in Bitcoin with a cap of 21 million coins, which will be accessed in 2030.

How much is Bitcoin worth?

As we indicated, the value of Bitcoin is dependent on supply and demand, and is calculated using an algorithm that measures the amount of transactions and transactions with Bitcoin in real time. Bitcoin is currently priced at $ 9,300 (as of March 11, 2018), although this value is not the least stable and Bitcoin is ranked as the most unstable currency in the foreign exchange market.

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The bitcoin mining game has changed

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ASCI or application integrated circuit machines have reached the bitcoin mining market. The first machine arrived at a miner’s home in late January, and since then, reports have been pouring in on shipped ASCI machines that found their way to Bitcoin mining platforms.

Because ASCI machines are specifically designed for the bitcoin mining mission, they are highly efficient machines for what they were designed for. Advanced ASCI machines have a hash rate of over 1 million per second. A typical CPU running bitcoin mining software has a hash rate of 1.5 seconds per second.

It goes without saying that the shipment of ASCI machines has changed the rules of the game in the bitcoin world. CPUs are no longer supported by Bitcoin mining software because a CPU that operates 24 hours a day will likely not see Bitcoin for several years, even if it has been mining in a pool.

The trend is favored by miners who also have thousands of dollars to use in the more expensive hardware, as well as early adopters of Bitcoin mining who likely had huge profits from early mining efforts. These early profits can be converted into the latest and greatest hardware and hardware setup to continue generating Bitcoin well into the future.

These miners running relatively powerful GPUs are hardest hit by the ASCI development. The difficulty of successful mining of a block of Bitcoin has increased to a level that may make the cost of electricity outweigh the return that a GPU miner would see in Bitcoin from year to year.

All of these speculations are closely related to the stability of the Bitcoin price in the future. If Bitcoin stays around the current $ 30 level, innovation will continue to advance. ASCI contributed in part to the rally in Bitcoin over the past two months. The US dollar exchange rate for Bitcoin increased from $ 10 to $ 30. It’s hard to find an investment with this type of return anywhere on the planet, so it’s only natural that Bitcoin has attracted attention in recent days. But will this interest last? And if so, will this lead to more scrutiny and volatility than stability on a modern digital currency? Relative long-term stability is the one trait Bitcoin must define if it is to achieve the original goal of being a viable and competitive currency on a global scale.

Will Bitcoin transcend the current designation of a speculative instrument? The answer lies in a tangled web of variables that encompass a broad spectrum of humanity: politics, psychology, finance, fear, freedom, privacy, security, etc. Regardless of the outcome, it sure is going to be a great show.

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