Bitcoin - the right answers to important questions

➤ bitcoin bubble that will burst soon ➤ A neighbor said this is an analogue of the financial pyramid ➤ We will give answers to popular misconceptions
Bitcoin - the right answers to important questions
- Bitcoin bubble which is about to burst, leaving all depositors without money.
- Cryptocurrency is nothing but a financial pyramid of the world scale

These statements are zealously voiced on their blogs, forums and pages of periodicals by financial specialists, adherents of the standard (fiat) financial system, where there is a third party in financial transactions and the money must be material, that is, they can be felt and put into a wallet.

Related article: What is bitcoin in simple terms

5 simple questions and answers on the topic: why bitcoin is not a scam and not a pyramid:


1. Question: Bitcoins are not backed by anything, and ordinary money has value.

Answer: Bitcoins, like other official currencies, are primarily backed by the trust of the people who use them.

The era of the gold standard is long gone, so now every country can print as much money as they want. In this regard, bitcoins are also not backed by anything in the same way as ordinary money of any country.


2. Question: So now anyone with a computer can issue bitcoins?

Answer: No, unfortunately, or maybe fortunately, it is almost impossible to get bitcoins on a regular computer now.

The probability of such mining is 1 satoshi or 1/100,000,000 percent, now bitcoins are mainly mined on an industrial scale on expensive mining farms


3. Question: Bitcoins are illegal, because if there is no central governing body, how can one legally influence this currency?

Answer: Yes, legally, no country can fully manage bitcoins, but they have already been adopted as a means of payment in: the USA, Japan, the European Union, and Switzerland, corresponding laws are being prepared in the CIS countries.


4. Question: What is the hype around this cryptocurrency, what are its main advantages?

Answer:

The ability to send money around the world with minimal cost, for example, in order to transfer money from a CIS country to the USA, you need to pay a commission to the bank from 10% -30%

Absence of a third party in the transaction, bank or broker

The ability to send money even to countries that do not have a financial system and banks as such, for example: Mali

· Blockchain technology that physically will not allow stealing or hacking the system.

Bitcoin is not subject to inflation, because according to the basic bitcoin algorithm-protocol, its release is limited to 21,000,000 bitcoins.

· An excellent tool for investing because the bitcoin rate shows explosive growth for 6 years.


5. Question: How will I use this currency if I do not fully understand all the nuances of its origin and circulation.

Answer: You don't have to fully understand how TCP/IP works on the Internet in order to watch news on social networks or send mail.

Related Articles

Bitcoin core: how to use a bitcoin wallet, practical recommendations
Read more April 13 2022
Bitcoin core: how to use a bitcoin wallet, practical recommendations
➤Step-by-step recommendations for using the Bitcoin core wallet ➤Synchronization of the blockchain ➤Performing basic operations step by step instructions
Bitcoin exchange, how to make money - how to use the cryptocurrency exchange
Read more April 13 2022
Bitcoin exchange, how to make money - how to use the cryptocurrency exchange
➤Bitcoin exchange, description of the interface on the example of the Exmo exchange ➤How to use the cryptocurrency exchange
Binance to launch a Decentralized Exchange
Read more April 15 2022
Binance to launch a Decentralized Exchange
➤Binance to launch a Decentralized Exchange ➤What is a decentralized exchange?
Binance vs Bittrex
Read more April 15 2022
Binance vs Bittrex
➤Binance vs Bittrex ➤Exchange the World
Top crypto offers
Cripto exchange
CoinSmart
Buy cripto 1 min
Crypto in the palm
Access account 24/7
Deposit methods: Crypto: Fiat Currencies:
Visa Wire Trans Interac Sepa BTC ETH LTC BCH UCDC EOS USD EUR CAD
GO TO SITE MORE DETAILS
Crypto Deposit
Cripto Credit
Nexo
Power of cripto
Cripto deposit
Cripto credit
Deposit methods: Crypto: Fiat Currencies:
Visa Wire Trans Interac Sepa BTC ETH LTC BCH UCDC EOS USD EUR GBP
GO TO SITE MORE DETAILS
Cripto card
TRASTRA
Payment card
Buy&Pay cripto
App for phone
Deposit methods: Crypto: Fiat Currencies:
Visa Wire Trans Interac Sepa BTC ETH LTC BCH UCDC EOS USD EUR GBP
GO TO SITE MORE DETAILS
Crypto Deposit
aStake
Cripto deposit
Minimum invest
High earning
Deposit methods: Crypto: Fiat Currencies:
Visa Wire Trans MHC USD
GO TO SITE MORE DETAILS