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what is bitcoin meaning future of bitcoin 2019 Cryptocurrency

pwhat is bitcoin meaning future of bitcoin 2019 Cryptocurrency Hello and welcome to our overview of Bitcoin.

what is bitcoin meaning future of bitcoin 2019 Cryptocurrency

Bitcoin is a cryptocurrency and digital payment system. It is the first. Digital cryptocurrency and therefore its the biggest that was put into the marketplace. AD 2009 releases open source and Bitcoin has the distinction of having a set amount of coins ever minted 20 21 million for that matter.

It is a peer to peer type of currency. So its digital just like a euro or yen would be. But instead of sending for example instead of wiring 1000 dollars to you I could.

Just simply send a certain amount of bitcoin to your wallet which is where you keep your currency your crypto currency. At this point. They have the block chain and the block chain allows you to see transactions every transaction actually in very open source ways of showing you. I sent half a bitcoin or a tenth of a bitcoin or a full bitcoin to your wallet.

And therefore people can check some to make sure the math all works and that the system isnt being abused because remember 21 million is as far as we go now. You can split up Bitcoin. You dont have to buy or sell or trade a full bitcoin. You can trade up to a millionth of bitcoin or Miller bitcoin for example is point 0 0 1 1000 of a bitcoin one millionth of a bitcoin is actually called a micro Bitcoin.

So you know it breaks down pretty significantly. Now when you look at bitcoins value you can see that at the beginning of 2017 we have exploded to the upside. Just taken off to 5000. There are several different exchanges that you can trade Bitcoin on. So I would also point that out.

This chart here happens to be on Bitstamp. And there will be other prices on other exchanges. Again its decentralized. There is no concerns of manipulation by governments around the world.

So thats one aspect that people like the anonymity of being a wallet online and not a name so to speak its a series of numbers something that people like and a lot of people are certainly paying with their mobile phone with apps with their digital wallets for various services its not just. Yeah you got a lot of bad press in the past about Bitcoin being used on Silk Road and other black sites on the web but now you can buy pieces if you can. You can go to Overstock.com there several places now. It must be said that although a lot of money has flown into this market as of late it is still my Newt compared to the forex markets.

So liquidity becomes an issue and because of that we have seen some pretty horrific sell offs from time to time in very short order but you can see that we continue to go higher over the longer term and that is what weve seen. 5000 was a magnet for price will probably go beyond there.

what is bitcoin meaning future of bitcoin 2019 Cryptocurrency

The question now becomes what are governments going to do. And that is really the biggest threat because while it is anonymous and governments cant necessarily manipulate it at least not publicly publicly. But you know Im sure that various intelligence agencies have started to look into this but leaving that alone leaving any type of conspiracy alone. The reality is Russia is starting to take steps to make bitcoin something that the average person cant use. China is starting to crack down on ISIS those initial coin offerings.

So the future is still up in the air we dont know how it could play out because if they make it so that. You cannot exchange bitcoin for a currency for example. You cant change your bitcoin into dollars then bitcoin has a serious problem right now its not there but it certainly looks as if they are trying to regulate this market. The S.E.C. for that matter is even starting to look into it.

So. Its hard to tell at this point where we go next. Now in the near term certainly looks like it wants to go higher if it becomes a standardized accepted method of payment and without much in the way of government interference.

And Im sure itll be fine. But right now I certainly think that the buyers are in control. And when I look at the monthly chart you know you cant argue that were in an uptrend. But then again you cant argue that we havent spiked to the upside out you know just way out of control a serious pullback is very possible and quite frankly be very healthy down to at least three thousand if not twenty five hundred at this point. But we have to wait and see if we get that.

Bitcoin is definitely the leader though because typically when you see cryptocurrency sell off bitcoin tends to do better than the other ones. Some of the newer currencies just get absolutely whacked. When bitcoin may lose 10 percent they may lose 20. So you can go to the exchanges you can buy a little bit of bitcoin you can sell it later for profit. Hopefully.

It is a exchange medium of exchange value if you will for various goods and services. But right now during 2017 weve seen more speculators jump in than anything else. The longer term outlook for block chain is probably where the real value is going to come.

The ability to anonymous anonymously keep track of transactions so itll be interesting to see how that plays out. Thats probably the longer term viability there as the block chain. But certainly Bitcoin is something that people have taken a shine to and is even being used down as a bit of a safe haven from time to time.p

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