What makes the Bitcoin price rise up and down? Not a few months ago, the BTC price hit $19,000 and within few days  it started to fall down. What makes the price change that quick?

The continuing revolution regarding the concept of money encourages the banks to adapt the blockchain technology. This will become a new tool for them to give  their clients improved security and will open doors for new and modernised banking features.

The strategy that will work best for trading cryptocurrencies is “Buy Low, Sell High”. Buy coins if it is on its low price and sell it once it got high. Another point to remember is do not trade what you can’t afford to lose. Don’t sell properties or invest all your money for this. The prices of these coins are very volatile and you wouldn’t know what waits ahead. You may earn a significant amount of fortune in this platform but you could also lose it in just few moments. Knowledge is always the key. You must do your homework first before getting into trading. Also, don’t let  your greed and emotions bite you. This is a factor that makes most traders lose their money.

Bitcoin is the banks’ biggest competitor today. More and more people are shifting their mindset towards using  cryptocurrency. They could store a huge amount of money in their digital wallets without being traced. Another thing, they could get taxed! Transactions and exchanges are also very fast. These cryptocurrency features are making banks less relevant as more people are joining in. This will give them the urge to cope up with the ongoing revolutions of the digital world or else they will be wiped out.

Turning all your money to Bitcoins is definitely a risk. Moreover, you cannot survive without fiat currency. This could be possible in the future but right now, it is definitely not going to work. Some companies are still not accepting crytocurrencies so how are you going to avail some goods if you do not have fiat currency in your hands?

On the other hand, Bitcoin price is not stable. We wouldn’t know what will happen in the long run. Only turn the amount that you could afford to lose.

Of course, yes! It wouldn’t hurt that much if some of your hard earned Bitcoins would be given for donations. You are not giving everything anyway. Not every people will experience the same opportunity that has knocked on your doors. Some  are lucky enough to live a comfortable life while some has already lost the war of poverty even before they could say their first words. Sometimes we cannot always associate poverty with laziness. Many are already doing their very best but still they couldn’t barely put food on the table.

People prefer Bitcoins over fiat simply because it gives them freedom any anonymity. It is flexible and convenient because it makes exchange of goods and services faster. Bitcoins along with other cryptocurrencies are also a way to escape taxes because it is decentralized. Hence no one, not even the government, can trace and track your transactions even if its illegal. This became a disadvantage for Bitcoin. It attracts illegal transactions and other bad works such as enjoying porn sites anonymously. Of course Bitcoins weren’t made for that.

Not a big fan actually, maybe because I am still new to this. I have first heard of Bitcoin many years back and didn’t mind much of its features back then. I thought of it as a new trend that will just fade away over time but when one of my closest friends earned a lot of fortune through it, it suddenly changed my mind. Now, I spend most of my time reading articles about it. The more I read, the more my curiosity is triggered.

Bitcoin has already earned its popularity over the years. This 2018 might be the year not just for Bitcoins but also for other cryptocurrencies. Several people will become interested in joining this platform since many company are starting to adapt it.  

We cannot eliminate fiat currency but if this would happen, it will surely take a very long time. In order to replace fiat, there are series of requirements that should be provided. This includes a medium of exchanging cryptocurrencies for every people in all places. Shifting the mindset of people from using paper money to digital ones would also take a lot of time. Also, the use of cryptocurrencies might have issues that will arise during the long run.

If cryptocurrencies will be the basic mode of exchange in the future, what will happen to the banks then?

Blockchain fees are usualy given when transferring coins to external wallets. These fees are calculated based on the current cost of writing transactions on the blockchain. This is the reason why there are significant increase of amount when we transfer coins to other wallets.

Of course! Social media plays a big role on the Bitcoin’s success. Almost every cryptocurrency users founded and discovered this trend through it.

It created a “domino-effect” where one person influences another one to invest until a number of people got hooked up into the system.

Social media provides a unique and effective way of advertising which led to a significant number of Bitcoin users.

Bitcoin nowadays is continuously earning its popularity all over the globe. More and more people are discovering its benefits in different aspects.

Some are debating whether will it be the “money of the future” or would it be just another gamble.

Despite some risk and disadvantages of this new buzz (although cryptocurrencies started years back) people tend to ignore it and focuses on the hype of trading it or just using its convenient features.

The possibility that in the future, cryptocurrencies will be used more than the fiat currency. Who wouldn’t want a cashless idea of exchanging goods and services? People can do things at ease with the use of their electronic devices.

Yes! Bitcoin can be “mined” by computers through a very complex mathematical algorithms. These computers from miners all over the world need tremendous amount of energy to perform such processes.

According to Digiconimist, the Bitcoin network’s estimated power use is 30.14TWh a year. This means the electricity consumption of Bitcoin network has exceeded the power produced by the largest Windfarm in Europe.

Since electricity generation is one of the leading source of greenhouse gases, we could tell that Bitcoin greatly affects or environment.