Bitcoin Investment Strategy
Bitcoin investment is the hottest topic today because its price is skyrocketing. As it went from a single dollar in 2011 to over 18000 or more in recent days. Bitcoin is a digital currency that is mined by computers, just like gold was mined by humans.
Right now there are some companies that do accept bitcoins like down the street, the Newport beach McLaren dealership, and the Lamborghini dealership, as they both accept bitcoins. There is some website like overstock.com that accept bitcoins to buy their products online. Today people are searching and finding the facts about bitcoin investment.
Bitcoin investment – Approximately 1BTC = 11,819.90 USD
See Also: How bitcoin technically works
So why is it important to get into Bitcoin?
Because it is a scarce asset that is rising in price as the demand goes up. Obviously there is a limited supply and Bitcoins just hit 5700 dollars per bitcoin. You can buy a fractional share of Bitcoins if you like to start off with the dollar you can go ahead. So you need to start with or follow the low-risk Bitcoin strategy. Today lots of people are wondering if they still should invest in bitcoins, if is it too late or if there is still a fortune to be made.
See Also: Bitcoin hardware wallets
If you have invested just 100 into Bitcoin in 2015, you could have made almost 2 million dollars today. Maybe you could have become a millionaire just with 100 dollars or maybe a billionaire by investing a couple of thousands of dollars.
There are people in this world who made a fortune out of it. Bitcoin is the hottest topic today because of its huge rise in price. It went from a single dollar to over 18 thousand dollars in recent days or more. Lots of people are wondering if they still should invest in Bitcoins.
So how exactly Bitcoin works? Bitcoin investment
The story begins with a guy named Satoshi Nakamoto who comes out with a new currency that is decentralized because it is controlled by everyone who is in the network. In fact, a limited amount of them exist like Gold and named it bitcoin. As bitcoin works exactly on the technology known as the blockchain. Everyone in the network can see how every bitcoin moves from one person to another. You can see the entire history of each coin once you joined the network. So if anyone tries to corrupt the system, the entire network will then find out immediately and reject it. As it is almost impossible to cheat in this system.
See Also: Explore blockchain | blockchain technology explained
All the new transactions are collected into a block and a new block is created every 10 minutes. Moreover, all of these blocks are connected to each other and that is why it is called a blockchain. Every new block besides recording new transactions which includes all transactions that have ever been in the history of the network.
For the system to recognize a block, it must match all the other blocks that have ever been created in the network. As it also has to match the next block that will be created in the next ongoing 10 minutes. On top of that, each and every single block and transaction has advanced cryptography.
Bitcoin investment strategy
If a new block will be added that doesn’t match all the other blocks and has been created previously or in the future, the cryptography in every single change. That makes it even easier to recognize the corrupted block in the network.
See Also: Cryptocurrency security guide
Now this will make it almost impossible to hack because the computer power that is needed to do that should be bigger than the entire network having lots of users. The bigger the system grows, the more secure it gets.
Now if you like to send money, you don’t have to go to the bank or any third party but rather you can do it at your fingertips for free. Moreover, when it comes to sending money to another country, you don’t have to wait for the bank to do so.
Should I invest in bitcoins?
Yes, bitcoin investment seems like the future of our money, but bitcoin is not only the cryptocurrency out there in the market.
Bitcoin investment options
As there are also other currencies available like Litecoin, Ethereum, Namecoin, Bytecoin, Gridcoin, Zcash, Bitcoin cash, Ubiq, and others. Of all others, bitcoin is the one that is growing at a faster rate. As it has grown from less than a thousand dollars to over 18K. So no one knows how far it will go. So you have to make your own research before investing in bitcoins.
Nobody wants to be the guy who lost over $117 million for buying two pizzas with Bitcoin, so people tend to hold on to the digital asset. The main idea is that scarcity generates value, which makes Bitcoin much more similar to digital gold than a digital currency. Like gold, Bitcoin can be seen as a refuge for those who do not trust central banks, governments, and fiat currencies.
From a practical perspective, we could say that market participants shouldn’t really care much about the bubble discussion. Bitcoin is for trading based on demand trends, not for investing based on intrinsic value.
Still, if it s Bitcoin investment advice you want, these four books will give you a better grasp on the current state of the cryptocurrency marketplace, how and why digital currencies were developed, and most importantly how to figure out when and how you can make money from them.
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