the reason why bitcoin will triumph - page 4

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HousseXZ
533
HousseXZ  
fx9 fx9:

What`s the difference between [ mining ] & [ buying or purchasing ] bitcoin or any other coin?


took me sometime to know the meaning short answer is producing new bitcoin through secure transactions since its using blockchain technology, that is being done through software and hardware to search hash numbers and generate the transaction



ttps://www.weusecoins.com/en/mining-guide/


and speaking about security :-   


There have been widely publicized frauds, scams, and hacks which have plagued individual investors and even major cryptocurrency exchanges in their short history. Part of the issue is simply that the technology and the space itself are new. While this makes cryptocurrencies like bitcoin incredibly exciting--and potentially very profitable--investments, it also means that there are those looking to capitalize on security holes before they are corrected.


Mohammad Soubra
31935
Mohammad Soubra  
Blockchain.info
The above link is great
Dzhafer Medzhakhed
1093
Dzhafer Medzhakhed  
mrluck1:

A bitcoin itself IS scarce, there are only 21 million units, you can't create more, so it's a coin, it fills all the requirements.

You are saying that  based on the technology itself it will collapse, but  until now you only pointed the blockchain size and the energy consumption  problem, i don't think that's valid, because even physical coins do require energy to transport and maintain, money to pay people, etc. The blockchain size also is not a problem there are a lot of new concepts available for these problems.

And if you are so right, why the price is going up two months straight? You are the only smart guy and everyone else is stupid?


To see everything that's problematic with bitcoin, check this article 


https://seekingalpha.com/article/4129751-fate-bitcoin-gold

The Fate Of Bitcoin And Gold
The Fate Of Bitcoin And Gold
  • 2017.12.05
  • Dzhafer Medzhakhed Research analyst, gold, currencies
  • seekingalpha.com
I have been an investor in bitcoin and other crypto currencies since 2013, and like many other cautious investors I exited bitcoin way too early and surely missed this amazing rally. This rally has had many people puzzled, trying to understand what is bitcoin and assess its real value. Bitcoin has breached $10000 (currently $11k) per coin and a...
bradleycuster
8
bradleycuster  
fx9 fx9:

What`s the difference between [ mining ] & [ buying or purchasing ] bitcoin or any other coin?

Easiest answer, just Youtube "bitcoin mining" or "how do blockchains work" & you'll get the idea in 10 minutes. But basically, bitcoin relies on a distributed network of miners (sort of like torrent for distributed file share) that perform the cryptographic computations to maintain the security of the transaction ledger which "is" the bitcoins or defines who has what bitcoins. Everyone else who just own bitcoins but don't mine, they're just having their names on the ledger, their not doing the work to maintain it. So the miners get some credit for doing that work, ie they get a free bitcoin occasionally.
fx9 fx9
2584
fx9 fx9  
HousseXZ:

I agree on the principal but bitcoin is not real, its virtual and technology is giving it the hype 


i would only listen to Clem Chambers about it, all his speculations came true during the last 12 months, he was able to predict prices weeks ahead and the next move as well


Who is Clem Chambers?

Eleni Anna Branou
Moderator
7560
Eleni Anna Branou  
fx9 fx9:

Who is Clem Chambers?


The beginning of the end is approaching, since many central banks and goverments are taking measures against it.

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