Anxious About Bitcoin’s FUTURE

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How to kind of dispel them now big one obviously gets quite a bitcoin of bad press and it's kind of controversial because not a lot of people really understand. A lot of the aspects of the quite so they take criticizing it without fully understanding. what they're saying I would go ahead and dispel some of the common myths that are associated with the bitcoin. so let's go ahead and get right into it. So first things first the person big point is too high now despite being down more than sixty percent from its all time high the price of one point around seven thousand dollars. At the time of me reading this the price of one brick would still deters many people from entering the market even though big one is on the main page of money off my newspaper since may twenty seventeen most people still do not know that they can buy a fraction of a big.

So let's set the record straight one big one can be divided into one hundred of millions to sheets the small speck what you did.And just because we can't afford it for gold bar. which are six hundred thousand dollars a priece doesn't mean that so we can't buy a gold coin or invest as little as one hundred and twenty six dollars gold ETFs to get exposure to cold same thing can be done with the court. so sue me world population of seven billion people it means that there are three hundred thousand to she's available per human being. were zero point zero zero three it quite since several studies have estimated that three four billion. what have been lost in the early years the true number is probably closer to two hundred two hundred fifty thousand situations per person. This problem what you'd exuberant rally at the end of twenty seventeen. when all of the coins for one dollar suddenly started going up as many thought that they were cheap as each one is a different supply the price of one point is irrelevant. what matters is the market cap of the outstanding supply and whether particular claim as a future or not since this rally twenty seventeen most of these bitcoins have gone down eighty percent as these increases never made sense in the first place.

Remember that there are more millionaires in the world that there will ever be the courts to the press one bitcoin what will suit not be the right metrics but rather one one thousand of a big white or even what to toshi the current market capitalization of the coin is around one hundred twenty billion dollars. what the US dollar And to money supply is fourteen thousand billion.The value of all the gold ever mined is eight thousand billion. so there's still plenty of upside for backward at seven thousand dollars per book. when the person wants to see his point zero zero seven US sense at this price anyone can best serve the next bitcoin the person they're going to strip all help to invest any money in it there's no debate the Pacific one is very bald style. But it is so for good reasons for the first time in history mankind there's a cryptographic. we inattentive decentralized circulation not imperfect by any nuclear rampart or any healing property it would truly be even more marvelous if the court were already stable the volatility issue will likely sort itself out. when the time comes in the market cap of Vic what becomes comparable to that of assets is competing with fiat currencies were gold crypto currencies are the most well tell inspected the bass a class in the world so if your best of brick wood or other crypto currencies you should know. what you're in for and you should only best you can afford to lose investing only what you can afford to lose gives you something very valuable time.

If you have time but you will never be forced to sell when the price is low and you can weather market cycles including severe downturns so the next minute pick. what is bad for the apartment one which started being mined by situation back but it back to the night my think it could be done on a simple laptop and took an average of ten minutes to Mike just one block if only that were true today.However the big one algorithm is such that automatically just the difficulty of the cryptographic puzzle the miners have solved all the lock it received awards. such that it always takes ten minutes to mind of walk on average the more resources are added to the quite network. The higher the obstacle this exigency is
what companion the bitcoin mesh most intense and hence more certain on inter.The modern miners have bedeck billions of US dollars particularize furnishing is for the civility. so valuable it is not a result of an increase in the number of users or the number of transactions and as long as the court is valuable companies will invest in the money with it together were the comes with success one by one.These motors consume large quantities of electricity to run their operations and this is what has been heavily criticized but since the cost which is the is the main operating cost writers they're always looking for cheap electricity around the world what you see is cheaper there is a surplus of it and this
usually happens in countries that have large groups.

So the net impact of running a mining operation in a country that has access hide your best you for example may not be as bad as. what has been written at seven thousand dollars for the quite the current annual cost of the book. when network is four point six billion dollars sizeable portion of it is spent on electricity bills. what the big whenever provides for this cost is watching there's one heck will buy any existing computer or technology on the entire planet.The court has been targeted by environmentalists legacy fiat system is not perfect either.A lot of resources have also been dedicated to running data centers building in power bank branches and pretty bank it's just to name a few of the aspects of fiat currency.The US federal reserve alone spent seven hundred million dollars a year just to prince dollar bills what makes the corn and easy target is simply that is relatively easy to figure out how much electricity they consume.

Another myth is that supposedly forty percent of the bitcoins are held by only one thousand people the reality is is pure speculation. What we know for sure is that they're currently twenty four million the coin wallets however one person may have hundreds of all it's. what one quality of what the courts wanted to thousands or millions of people. which makes any analysis of the concentration of wealth among the quite odors or holders virtually impossible to waltz holding the most the coins have been identified as being the cold wall it's a bitcoin fanatics and the tracks.But someone looking at the raw data would simply infer that the owners of these two wallets are billionaires. Well the Clinton these
walls for the thousands or millions of clients of these exchanges quibids alone cleans up more than ten billion users. when you trust exchange with your vehicle and said honestly you should a truly.The exchange does not create a wallet specifically for you on the watching it simply allocate some of the big ones that have been positive with them. From one user to another one on the other hand was Wall Street a new address every time there's an incoming transactions. This means it's over the hardware world have to receive five times point to pick one in order to own one three point spread over five different addresses there's no way to know that these five addresses actually point to the same person the
heavy concentration of wealth.The big wide world may or may not be a reality convincing evidence has yet to be produced to close the debate at this point so the next best record is used to buy drugs and for money watering with the bitcoin every single transaction is public which is not exactly a deal if you're looking to occasionally collectivities.

Two reports recently released like that only one percent of all the court transactions reviews for money. what three or forty four percent for legal activities.Needless to say there is no consensus on this issue. Problem with using pick one or any other cryptocurrency for legal activities is that you cannot do much with those yet if you require the week with if you're running a large we cooperation and you suddenly decide click backwards instead of cash. How are you going to pay for your expenses you'll most likely need to go through an exchange get good old fiat currency in exchange for their currencies. you cannot do this anonymously as many exchanges follow know your customer care YC and anti money laundering or animal procedures. what registered users this is where criminals using crypto currencies will get hot as law enforcement agencies are monitoring these exchanges cash will probably remain the currency of choice for criminals for the time being so the final this year big corps transactions are slow and expensive ever. since the state would stop forget about six months ago juridical backs will number transactions per second increase from five to seven percent too close to twenty per second or one point seven million per day this number is of course very far from what it should be to compete with you legacy payment system. But it is never been the objective of the Backwood block change record every single transaction. Many of the smaller transactions could be recorded off change and this is precisely what the upcoming white think that work will make possible. The whole record network has been designed around incentives views are necessary to prevent attacks over without fees anymore she's attacker could send billions of tiny transactions just support the blossom system the fuse make sure that the most portraits actions. Those rich high fees have been paid or process first and even if it takes a few blocks good protection validated it is still much faster than a wire transfer that we take up to ten days in the case of international margarines so anyway folks those are some common myths associated with I hope that done a good job of this is a lot of people don't fully understand. when and for that reason these bitcoin and to rise as people speculate on various aspects of the currencies.