What is Bitcoin? Should invest in bitcoin or not?

This article has been around since the Bitcoin (BTC) price of $ 900, and now, once again, Bitcoin prices have tripled. Compared to this point two years ago, Bitcoin price was 10 times. Really ??? Even if you do not believe it, it’s true.

Along with the rise of Bitcoin, the multi-level floor, for-receipt under the model of Pon-zi (near the multi-level) to entice, seduce too much, causing more people to know more bitcoin. That is why many people are not very sympathetic with this money! However, Bitcoin is just a coin, it is not guilty of a fraudulent pattern.

The number of Bitcoins in the world is limited (only 21 million Bitcoin), but the demand for it is increasingly common. You can refer to Bitcoin predictions from reputable sources:

Actually I know this currency is a very long time ago. And as a common answer for everyone, I wrote this article to explain and to point out my own views on this bitcoin.

1. Is Bitcoin a virtual currency?

2. What is Bitcoin?

3. What is a bitcoin wallet?

4. Advantages of bitcoin.

5. Disadvantages of bitcoin.

6. Real damage to the trick through bitcoin.

7. How to earn bitcoin?

8. Bitcoin in the future up or down?

9. Does Bitcoin ever “die”?

Epilogue

1. Is Bitcoin a virtual currency?

Actually, bitcoin is not virtual money, it is real money, you should call Bitcoin as “electronic filing“, it would be more accurate to call it “virtual“. Because when it comes to virtual currency, that is the money used in a certain community, for example, if you add money to the game, the money in the game is called virtual currency, and it can not be converted. Money in the real world, if so, the value of it will also push down.

Bitcoin is global in scale and is used to buy as much value as real money, and it can convert real money into great value, this is the world’s most valuable currency. To the latest update of this article, the price of a bitcoin has exceeded $ 2700.

Below is the bitcoin price fluctuation chart from 2010 to present:

Like the price of gold, dollars or stock prices, bitcoin prices are also updated in real time, you can go to Google typing “bitcoin price” for information about bitcoin price at the moment.

Check the Bitcoin price fast at this link

At the beginning, bitcoin was known as a form of super fast, safe and applied to online services. However, from 2015 onwards, many small and midsize businesses use this currency as a form of payment, both online and offline.

I give some examples:

  • By the end of May 2017, Peach Aviation – a famous Japanese airline accepting airline tickets by Bitcoin
  • Who designs will know about Overstock.com, this is a network of online stock trading used to design or serve the needs of high quality images. They are also using bitcoin as a form of payment.
  • The big guys like Paypal, Reddit, Microsoft, Dell, .. are using bitcoin middleware to accept payments, even there are certain percent discounts when customers use bitcoin.
  • Many hotels and coffee shops in the world register through a site intermediary bitcoin transactions to facilitate customers can make reservations, payment in this currency….

You can find out some common examples, some keywords for you to find out like “company accept bitcoin”, “buy something with bitcoin”, …

In addition to Bitcoin, there are nearly 1000 other mainstream electronic currencies on Coinmarketcap, which are collectively called Altcoin.

So specific bitcoin it is something that has such over-terrible value, keep on reading.

2. What is Bitcoin?

Bitcoin is an encrypted digital currency that was released in 2008. It can be exchanged and dealt directly with Internet-connected devices without the need for an intermediary financial institution. , No one managed, the transaction is completely done immediately.

If you intend to learn more about this currency in a scientific way, read its documentation on Wikipedia, otherwise you just understand bitcoin is an electronic currency. You can trade and buy this currency without any organization that can control you.

Bitcoin is the most prevalent codec, first introduced, and widely used in e-commerce. Because people, companies, businesses want to pay Bitcoin to reduce costs.

By June 2016, the amount of Bitcoin base stock valued at $ 12 billion – the most valuable code name, to date, has capitalized more than $ 40 billion.

So who was bitcoin founder?

Bitcoin was first discovered by an individual (or organization) who did not want to be identified, and they named Satoshi Nakamoto (and no one knew who Satoshi Nakamoto was but the organization that uncovered it). Launched the idea for the whole world in 2008.

This is a world-class revolution when the trading problem is solved very cleverly with a currency that does not bear any control over who.

For example, if you have an American citizen, they want to send money to you, they must go to the bank, or transfer to your VISA card, or simply use online payment gateways such as Paypal to send money, but in general you have to go through the medium.

But with bitcoin it is different, your relatives do not need any intermediary can send money to you regardless of geographical location problems, just have internet connection, within 5 minutes, relatives of You can send bitcoin to you from somewhere in the world.

3. What is a bitcoin wallet?

Anyone using bitcoin can create a bitcoin wallet to store their bitcoin. When opening a wallet, users will be provided with one or more public addresses that allow others to send money to that address.

Bitcoin archives have very high security, such as 2-3 layers of security (email authentication with newly registered phone numbers), or a feature that allows users to print their wallets themselves. I have to store in the cabinet for safety.

Note, however, that if you are not careful and disclose your information to someone, they enter your wallet and make a transaction, the Bitcoin network will not be able to confirm who it is, And the bitcoin number in your address will be lost forever.

2 bitcoin wallet:

4. Advantages of bitcoin.

It can be said that bitcoin was born as a revolution in electronic payment when its advantages were enormous.’

  • Convenience in trading: If you notice any intermediaries, they have a limit on the transfer and receive money during the day. But with no bitcoin, you can send an unlimited number of bitcoins to your friends and relatives. No matter where they are in the world. And you can send at any time, no one can manage the amount you send.
  • Safety and security: Every bitcoin transaction can be done and completed without any personal information. Transaction information is displayed but your identity is completely confidential.
  • Can not be fake: The cost of gold quality testing is very high, but the testing of Bitcoin does not cost anything, and it is true that bitcoin can not be faked because it does not exist in the physical form.

  • Extremely low transaction costs: There are no transactional intermediaries, only transaction processing fees, but it is not worth much.
  • Environmental protection: No chemical print or paper use. Bitcoin computer processing systems cost far less electricity than the current financial system.

  • Ecommerce Potential: All bitcoin transactions are completely anonymous and can not be reversed, so for resellers, they can be assured of fraud.

5. Disadvantages of bitcoin.

  • Not many users: The fact is that people, especially those who do not grow as much as Vietnam, are accustomed to using currencies, gold and silver. And they do not know much about electronic money. Along with that many famous newspapers have negative posts about this money (I will explain later) so people are very cautious and have many concerns when using bitcoin.
  • Somewhat difficult to use: To use bitcoin, you need to create a bitcoin store, which must be done on the computer. For those who do not know much about technology without being instructed, they will find it difficult to do these tasks themselves and risk fraud.
  • Criminals, hackers, money laundering: Because of the anonymity of bitcoin and uncontrolled crime, criminals can use this currency as a trading method. Hackers may be trying to attack multiple bitcoins to steal large amounts of money and money laundering can happen easily.

6. Real damage to the trick through bitcoin.

Maybe you have recently heard someone tell you, or you read a newspaper, watch TV, have bitcoin trick, so what is the story behind this?

First of all, I repeat: Bitcoin is a currency, no head or any representative organization, so it’s not a bug, cyber tricks you hear are like “scam bitcoin”. They are similar to being cheated on money, gold, or any other property.

For example, I recently had a friend, a bitcoin trader who was also cheated, and a crooks who exploited a loophole when trading through a bank to trick their friend’s bitcoin. The fault here was due to the vulnerability of the bank as well. Your friend’s carelessness should be cheated, not a bitcoin mistake.

Then the news like: Thousands of people in debt for the bitcoin trade, … are also not the fault of the money.

In short: Bitcoin is a currency, and it is not faulted in any fraudulent, fraudulent or not, as community members using bitcoin create and use bitcoin as a form of transaction. When phishing. Bitcoin is a virtual currency, many people do not have much knowledge, no understanding of the currency is referred to as the fraud bitcoin, this is completely wrong.

7. How to earn bitcoin

Many people are keen on owning a bitcoin because of how “this currency is so valuable, a bitcoin is up to $ 2700?” So after a bit of research, it raises the question of “how to get bitcoin

Here I will give some methods to get bitcoin.

Buy BTC & keep it a long time (Holder)

If you recognize the potential and want to invest in this electronic money then you can use your personal money to buy it, you can buy it through a friend using bitcoin they will sell or recommend a place to buy your credibility. And you want to buy on the floor, I have a list of the number of floors in the world that you can buy:

  • https://bittrex.com/Home/Markets
  • https://www.coinbase.com/
  • ……

“Exploit” bitcoin (Miner)

There are only 21 million BTC in the world (that’s why its price is expensive), the world has already exploited more than 16 million BTCs, which is about 5 million BTCs have not yet been exploited.

A few years ago, there were many individuals, small groups to dig a bitcoin, but because of the money spent to invest in the machine, and the electricity consumption is too large to stand up. Should these individuals and organizations now turn to “exploit” a number of other valuable coins, fill it with Ethereum (ETH).

In the world of bitcoin digging groups, you can put money and join, or you can buy diggers (there are many different types), but in this form, the payback period is quite long.

Do business traders bitcoin. (Trader)

The price of bitcoin is very volatile, maybe it is a few tens of USD in a short period of time is normal, so there are many people who rely on this feature to do business bitcoin trading, buy low sell high Is surfing.

Should join the multi-level investment floor, to receive?

With this form, you will buy bitcoin and invest in an investment floor or for accepting bitcoin. Interest rates range around 20-40% per month. However, you should remember that this is a form of high risk, you risk losing the amount of investment because of the floor floor, fraud.

The rate of people earning money is much lower than the losers or losing 50% of the money.

Moreover, to get more profit, you have to invite others to participate (as multi-level), so this is the form that you recommend DO NOT PARTICIPATE.

8. Bitcoin in the future up or down?

With the current momentum without major fluctuations, Bitcoin prices will continue to go up.

For example, there is a bitcoin floor (large floor) hacked data and bitcoin theft, the number of bitcoin users will decrease (they sell out bitcoin for cash) and the price will automatically be pushed down. .

For the same currency there are many ironies, many people get rich because of bitcoin, for example early in 2016 bought only $ 200, so far it has increased by three times they celebrate. Conversely, many people are cheated, hacker intrusion, not secure bitcoin wallet, then lost a large amount of money.

No one financial expert, penny, or investor can confirm whether or not to buy bitcoin because its price depends on the volatility of the world. The decision to buy bitcoin in the present time completely depends on the decision of the investors.

For example, if you want to invest bitcoin then you must:

  • Learn and have knowledge about bitcoin, the altcoin

  • Choosing the right bitcoin investment, want to buy on storage also have to consider carefully
  • Select a reputable trading floor

  • Secure bitcoin wallet as well as other information related to your bitcoin

9. Does Bitcoin ever “die”?

The fact of the bitcoin is that people receive and disseminate more information about this coin than positive.

For example, the benefits of convenience in payment or the big boss accept bitcoin as a payment gateway, few people share.

Information such as “using bitcoin is tricked” is spreading very quickly. Most people who share it do not know what bitcoin is. To google typing all the wrong things from the official newspapers, and they think bitcoin is “a form of fraud”

There are many individuals who, although not fully aware of Bitcoin, love to paint the Bitcoin image when intentionally attaching it to multi-level scams, Ponzi fraud, terrorist financing dollars, etc. Not scientific, this is explained in the psychology of rejection of fear when faced with change, with the unfamiliar of mankind.

However, the general trend of public opinion after a period of learning about Bitcoin is positive. In recent times, all of these reports have been good news for Bitcoin.

And through the many “seemingly discarded” stages, but bitcoin is still alive and on the rise, the possibility of this currency disappearing forever is almost nonexistent.

Epilogue

So after this article, hopefully you have a good knowledge of bitcoin, and in this conclusion, I will review the key ideas you need to grasp:

  • Bitcoin is a real money, it’s electronic money, not virtual money.
  • Bitcoin by an unnamed individual gives an initiative to revolutionize global transaction and payment.

  • When you want to use bitcoin, you need to register a bitcoin for archives, the two most widely popular ones are Blockchain and Coinbase.
  • Bitcoin also has its own pros and cons, but many more disadvantages.

  • Many countries are profitable and preferring to use bitcoin (Japan, EU, North America)
  • Bitcoin is not guilty of fraud
  • It is impossible to know if bitcoin will rise or fall in the future, if nothing changes to the electronic currency, it will rise in price because there are many users.
  • Through many difficulties, bitcoin is still alive and becoming more and more popular. Great newspapers in the world recently reported good for this currency.

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