Will Bitcoin survive?
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"No, what jumped out at me was the answer to a question about Bitcon's survivability: more people said Bitcoin will disappear in the coming years than those who believed it would stick around."
Michael J. Casey, CoinDesk's Chief Content Officer
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Casey wrote an article, Why People Think Bitcoin Will Die, outlining people's general ignorance of Bitcoin and cryptocurrency.
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His story has merit.
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So, my mission (because I choose to accept it), my mission is to educate everyday people on what Bitcoin is, and why the cryptoverse will survive and thrive in the global financial arena.
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BITCOIN
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Bitcoin is a concept made famous by someone who believed third-party intrusion could be eliminated, allowing people to transact business freely anytime, anywhere.
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My story: What is Bitcoin anyway? Will explain.
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BITCOIN IS DIGITAL
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Humanity has become a digital society. Since the introduction of the personal computer in the 1980s, a shift from tactual to digital has been developing in society.
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Although the Y2K scare at the start of the 21st century proved false, it ushered in a greater awareness of the digital world's impact on society.
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Twenty years later, virtually everything humanity does is, or can be, done electronically. It makes sense that traditional fiat currency will become digital.
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My stories, We live in a digital world, will give you a greater understanding.
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BITCOIN IS MINED
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Just like gold and other precious metals or gems, Bitcoin is mined. The picks and axes are sophisticated computer calculations called algorithms.
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My story, A mining we will go will explain.
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Once the coin is mined, it is verified on a blockchain or digital general ledger. Like gold, it is in limited supply. An interesting halving component is written into Bitcoin's matrix, which adds to its limited supply.
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?My story ?Understanding the Bitcoin halving will help you understand the concept.
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BITCOIN IS TRADED
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Using their PayPal account on October 12, 2009, Bitcoin Talk traded 5050 Bitcoin (BTC—Bitcoin Symbol) for $0.00099 per coin. It was one of the lowest prices per BTC ever recorded. Following the trade, Over The Counter (OTC) trades began.
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In 2010, someone with the username Theymos claimed to have sold 160 BTC for $.003—the lowest recorded price.
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Mt. Gox was the first public trading platform and launched in July 2009.
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In its 15-year history, the value has gone from near zero to over $69,000.
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Although trading fluctuates daily, the current on-average volume is between 300,00 and 400,000 daily trades.
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It is estimated that globally, around 220 million people own Bitcoin.
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Bitcoin is currently (at the time of this writing) trading around $47,800.
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My story, Crypto investing: Is it safe? Will help those interested in trading Bitcoin.
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BITCOIN IS A DIGITAL CURRENCY
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On May 22, 2010, two pizzas were purchased in Tampa, Florida, for 10,000 BTC. The day is now considered Bitcoin Pizza Day.
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Since then, everything from cars to collectibles has been purchased with Bitcoin.
Approximately 2,300 U.S. businesses (and many global companies) accept Bitcoin as payment.
领英推荐
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Nearly a dozen banks and financial institutions currently offer a Bitcoin Visa debit card.
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BITCOIN NEEDS A WALLET
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Like any currency, you need a wallet to hold your money. You can hold it in banks (like fiat currency) or in (digital) safes.
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Many digital wallets are available. Storage can be held in cold wallets or hot wallets.
Cold storage wallets are those you hold, like a digital key or thumb drive.
Hot storage wallets are those held by digital platforms like Coinbase.
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An example of a digital safe is a platform like Coinbase. Although Coinbase uses wallets, for the investor, it is like a safe where their Bitcoin investment is held.
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My story, The move to crypto: choosing a wallet will give you suggestions on digital wallets.
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BITCOIN IS RESILIENT
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In its 15-year history, bitcoin has endured (and overcome) every obstacle hurled at it.
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·?????? Banks
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·?????? Governments
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·?????? Hackers
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·?????? Naysayers
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Each of these—and more—have attacked Bitcoin and the cryptoverse.
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According to Bitcoin Magazine, Bitcoin has been pronounced dead 463 times because of price crashes.
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My story, Bitcoin inches closer to mainstream adoption, will give you more insight.
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This is a simple overview of Bitcoin, and more information will follow. However, it is a start and will put you on the path of understanding Bitcoin and the cryptoverse.
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How it impacts everyday people
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A digital world demands digital solutions, and Bitcoin offers a digital solution to the financial world.
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Crypto—in its various forms—represents the future. It must be understood so it can be embraced.
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My cryptoverse writing focuses on empowering everyday people and challenging them to find financial freedom through the cryptoverse.
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Change is here, and action is required if you do not want to find yourself on the side of the road without a way to reach your destination.
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?My story, Everyday people: you gotta have a plan, offers some suggestions. My over 500 stories will guide you and give you ideas to embrace the change and transform your life.
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Although the cryptoverse is not the end-all, cure-all, it is a simple investment tool that everyday people can utilize.
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I am committed to the cryptoverse, and believe it offers a path to help you change—possibily find financial freedom.
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Investing in any of the various segments of the cryptoverse (Currency, DeFi, gaming, NFT, Metaverse, or Web3) can provide you the opportunity for financial freedom, but it takes a plan.
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Disclaimer: I am not a financial planner, and therefore do not offer financial advice. I am an avid student of the cryptoverse who is willing to make the things I learn available to everyday people willing to take a chance, change, and explore your financial freedom in the cryptoverse.
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