BITCOIN -Shady or the future of finance?
A few years ago I was misinformed about BItcoin, so when I hear about Bitcoin I immediately associate it with fraud, so when I hear anything that has to do with bitcoin I am almost immediately not interested. Because I believed at the time It is either a Ponzi scheme or a scam
well, so I thought.
Then early 2019, I had some extra cash and needed to invest, spoke to a friend and I was introduced to the world of bitcoin trading
I was skeptical because again BITCOIN is involved.
Trading bitcoin is like trading anything else on an exchange. You can trade dollars for euros through forex, and dollars for bitcoins on the exchanges. It’s very similar, but it depends on the idea that it’s traded on an actual currency,”
said my friend trying to convince me to invest in bitcoin But It all still sounded like a Ponzi scheme and I didn't invest or get involved and I never showed interest in it again.
Till I joined this platform a week ago
I see a lot of talks about cryptocurrency and Bitcoin, it was high time I put on my research cap and get the proper information by myself. I needed to understand if Bitcoin is shady like I was informed or the future of finance?
There were hundreds of online publications that describe what Bitcoin is in great length,
But Here’s how I made sense of the
cryptocurrency Bitcoin with my few hours of research
Bitcoin is the first cryptocurrency and it’s also the best known of the more than 5,000 cryptocurrencies in existence today. It is mined on complex computer rigs that solve complicated puzzles to confirm groups of transactions called blocks; upon success, these blocks are added to the blockchain record and the miners are rewarded with a small number of bitcoins while Other participants in the Bitcoin market can buy or sell tokens through cryptocurrency exchanges or peer-to-peer.
Follow the most interesting money these daysby @pouchon made me understand that bitcoin is the king of all crypto👑
It is hard to admit it, following #btc gives you the direction of the market. Even the dominance proves bitcoin is still the king of all crypto and Since #btc is anonymous till today, it proves the design will stand the pressure of time.
Then I wondered how it is worth money?
according to Anton Mozgovoy, co-founder & CEO of digital financial service company
It is worth money because we, as people, decided it has value—same as gold,”
It became really interesting, with my 1% knowledge I am certain bitcoin is the future of finance.i can't wait to have a completely vast knowledge about bitcoin.
One day at a time, I will get there
