If a Bitcoin crash is coming in 2020! So what? Bitcoin has hit a record high after passing $9,000 (£6,700) and is close to reaching five figures as investors in the cryptocurrency trading shrug off warnings of a bubble.
The bitcoin cryptocurrency trading rose to an all-time high of $9,721 on Monday-Tuesday trading. It is now worth more than seven times an ounce of gold, which is seen as a haven in times of turmoil. In a remarkable rally, bitcoin started the year at $1,000 and smashed through $5,000 in October/
Today we're seeing Buy bitcoin with credit card is on the rise on Google search engine and sparking bubble fears.
The Google serach term "buy bitcoin with credit card" is around its historic peak as the price scales new highs. This is very scare!
Other search engine trends show that bitcoin holds a solid lead in Google quests for digital currencies, even though it has a growing list of competitors.
Would it be possible that the bitcoin craze is a sign that "we've entered the final and stupidest part of the bull market run".
We are seeing most of the smartest thinkers working in the cryptocurrency space. You can call this a bubble.
Or you can educate yourself and try to undersatnd why so many brilliant people are dedicating their lives to this emerging field.
Strangling, Bitcoin's market cap has just surpassed the following household names:-
- Mickey Mouse
- Star Wars
- 12 Theme Parks
- 51 Resorts
- 387 stores
- 195,000 employees
- $55 billion in revenue
Bitcoin has gone parabolic, and that usually doesn't end well. We're in the fear-of-missing-out phase now and themovement is even beginning to worry some people in the Federal Reserve.
The federal reserve is wondering how can people buy bitcoin with credit card instantly or buy bitcoin with credit card no verification or buy bitcoin with stolen credit card
Today in 2020, bitcoin, bitcoin miners and other cryptocurrencies is skyrocketing right now!
We saw Julian Assange - WikiLeaks founder wrote..."My deepest thanks to the US governemnt, Senetor McCain and Senator Lieberman for pushing Visa, MasterCard, Paypal, AmEx, Mooneybookers, et all, into eracting an illegal banking blockade against @WikiLeaks starting in 2010. It caused us to invest in Bitcoin -- with > 50000% returm."
Bitcoin - How Does it Work? And What's the Point?
Cryptocurrencies like Bitcoin allow people to transact with each other. Using the internet, anywhere on earth.
Bitcoin is like having two account numbers, one for deposits (PUBLIC KEY) and another for withdrawals (PRIVATE KEY).
The only thing other people can do with your public key is send funds to you. Your private key gives you access to your fund.
As long as you keep control of your private key your funds are absolutely safe, and theft and fraud are virtually impossible.
But just like cash in your wallet, you need to keep it safe to prevent it from being stolen. Its security is entirely your responsibility.
Cryptocuurencies can also give you privacy... Just like cash, you don't have to disclose any personal information when you spend them.
Cryptocurrencies are light years ahead of our current technology. Bitcoin is brand new to mankind in that it is both a currency and a payment network simultaneously...
And this is where Bitcoin gets its value. This, perhap solves the Byzantine General's Problem. The Byzantine General's problem goes like this...
In other words, how can individual parties find a way to guarantee full consensus? This is one of the first thing to understand about bitcoin.
It is the first, full consensus distributed ledger, a TRUST Machine, mankind has ever seen. But, is it 100% reliable?
This system that Bitcoin runs on is called Blockchain.
Instead of striking gold by mining for precious metals in the wilderness, these computers are hoping to strike bitcoin by mining precious numbers on the blockchain.
The computers aren't all selecting the same transactions and not all of the blocks are the same size. Some contain more transactions, and some contain less.
It is suggested you wait upto sixty minutes to be sure the payment is permenant. So why is it so slow, why is your pizza cold before you own it?
Interestingly, the system is slowed down on purpose, and here's why. Slow connections! verying internet connection speed.
Computers receiving the different winning blocks at different times. This soft forking is the main reason the system must be slowed down on purpose via the math problem.
If the system was instant it would be forking everywhere, all the time, and there would be no consensus.
No one would have any idea of which ledger is the correct one, and every computer would be busy building a different block to create yet another fork.
What is bitcoin and is it a bad investment?
In May 2010, Bitcoin was launched (this is just
ONE of the cryptocurrencies we're talking about). At the time 10,000 bitcoins were worth £25.
Now here's the interesting thing. If you'd bought them then:-
Do you know how much your £25 worth of Bitcoins would be worth now?
Well let me tell you. And hope you're sitting down, because amazingly if you had bought a £25 stake in these Bitcoins just 120 months ago...
You Would Now Be Holding A Stake worth a Truly Life Changing:
Very serious ... your stake, at the current exchange rates, would now be worth around £30 Million Pounds. Sounds outrageous I know but it happens to be true.
It's astonishing and should give you an insight into why some people have already made over US $1 Million in the last 12 months doing cryptocurrency trading.
In fact, the growth with cryptocurrencies has been staggering – as its truly life-changing.
For example, here's what just 8 Cryptocurrencies (and there are over 850 of them at the moment) have been doing over the last few months:-
As warning of looming pain for bitcoin buyers. But for traditionalists investors, it's hard to fathom.
Rather than a commodity or currency, bitcoin is like owning stock in a company that will only ever issue 21 million shares and never pay a penny in dividends.
The only way it has value is if the next guy (or a sucker) is willing to pay you more for it - the bigger fool.
With no intrinsic value to bitcoin, it's hard to see this as anything other than a giant speculative bubble.
Bitcoin is a virtual currency that emerged in the aftermath of the financial crisis in 2008.
It allows people to bypass banks and traditional payment processes to pay for goods and services. Banks and other financial institutions have been concerned about bitcoin's early associations with investors.
Reviews From Others!
Read Reviews From Many Well-respected Investors, Entrepreneurs and Leaders are beginning to say some very exciting things about the crypto market...
"Cryptocurrencies Could Reach $5 Trillion by 2022" By Billionaire Investor Michael Novogratz
"Billionaire Richard Branson hosted the greatest minds in Bitcoin on his private Island to discuss the future of Blockchain technology. Sir Richard has personally invested over $30 million into Bitcoin start ups so far" By English business magnate, investor and philanthropist Sir Richard Branson
"Bitcoin is the beginning of something great, a currency without a government, somthing necessary an dimperative." By Nassim Nicholas Taleb
"When I first heard about BITCOIN, I THOUGHT IT WAS IMPOSSIBLE. How can you have a purely digital currency? Can't I just copy your hard drive and have your Bitcoin? I didn't understand how that could be done, and then I looked into it and it was brilliant." By Founder of Dunvegan Space Systems Jeff Garzik
"In many ways, Bitcoin is the most exciting technology since the Internet, we think." By Coinbase CEO and co-founder Brian Armstrong
"I think the fact that within the Bitcoin universe, an algorithm replaces the functions of [the government]...is actually pretty cool." By Formal US Vice President Al Gore
"You can't stop things like Bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust." By Founder of McAfee John McAfee
"Every informed person needs to know about BITCOIN because it might be one of the world's most important developments... Bitcoin might revolutionize more then money or economics. It could transform the role and nature of government." By Nobel Peace Prize Nominee Leon Louw
"Bitcoin is EXCITING because it SHOWS HOW CHEAP IT CAn BE. BITCOIN IS BETTER than currency in that you don't have to be physically in the same place and, of course, for large transactions, currency can get pretty inconvenient." By Founder of Microsoft Bill Gates
"BITCOIN is a remarkable cryptographic achievement and the ability to create something that is not duplicable in the digital world has enormous value." By CEO of Google Eric Schmidt
"DIGITAL CURRENCY is going to be a very powerful thing." By CEO of ebay Inc. John Donahoe
"I do think Bitcoin is THE FIRST [encrypted money] that has the potential to do something like change the world." By Co-founder of PayPal Peter Thiel
"BITCOIN IS THE BEGINNING OF SOMETHING GREAT: a currency without a government, something necessary and imperative." By The New Sage of Wall Street and the creator of Black Swan Theory Nassim Taleb