And that's just being unwarrantedly picky, since deflation is simply negative inflation. The benefit of Bitcoin not having inflation includes the notion of negative inflation within that. I.e. the benefit with a defined supply is that something that costs 1 bitcoin remains 1 bitcoin. No inflation (positive nor negative).
Imo Bitcoin is BIG CON a Ponzi scheme, it has no real value like fiat currency which is based on GDP of each country. Just bc many people invest and trade w it doesnt make it valuable,(or safe )its similar to printing your own funny money, No bank will ever exchange Bitcoin for real money $$. And no bank has any reason to use crypto anyway bc CC or Debit card works well enough. I think electronic payment using Real money will become the norm eventualy And yes you will still need bank acount to do this
Got question to ask: Assuming I saved my bitcoin in cold wallet 10 years ago. I have 100 bitcoins. Right now, how can I sell the bitcoins to make money? Example, how to sell to coin base?
when you receive/send bitcoins from electrum wallet, you must connect to internet. how can it be cold wallet?
Nope. Ponzi schemes require that you take money from later investors. Bitcoin is the opposite; later entrants who mine bitcoins actually DILUTE the value of your bitcoin. It's just another fiat currency, whose value is based on whatever people think it is. Like many other forms of tradeable wealth these days - futures, mortgage backed securities, precious metals, company stock, real estate etc.
Back to 2012 August, 1 BTC = USD10 Already missed the chance to become millionaire. If I could have bought USD1000 of BTC, today I can sell it for 3800*1000 = 3,800,000 = 3.8 millions.
That's the way hindsight works. If you know that Bitcoin will go up by 400% in 9 years then why haven't you bought Bitcoin already?
Because I didn't know. Sigh Please Register or Log in to view the hidden image! I was dreaming that time, never google about bitcoin.Please Register or Log in to view the hidden image!
Assuming you bought at 0.05 cents for $1000 Now is 38000, 38000/0.05 = 760000 $1000 becomes = 1000*760000 = 760,000,000 dollars, 0.76 billions. Super rich. Please Register or Log in to view the hidden image!
The miners. Every transaction needs to be added to the blockchain, and the process of doing so requires validation, which is what the miners basically do, using increasingly more powerful hardware, and increasingly large amounts of electricity. The miners are rewarded in Bitcoin for each transaction they validate. This is the basic situation. But the miners get to choose which transactions they try to validate, and to encourage the miners to select their transaction over another, the sender of the Bitcoin also adds a transaction fee to further incentivise the miners. The more transactions there are, the higher the transaction fees tend to be. I guess if you don't add a reasonable transaction fee your transaction may never get validated.
