With the prize sky rocketing, many wonder if they should still invest in bitcoin, or if they are already late comers.If you had invested $1,000 in Bitcoin just two months ago and sold it yesterday, you would have made about $9,000 in profit. well here is what you need to know.
I told a relative about Bitcoin, I told him that it is decentralized, how it was created by unknown person(s). But just then he said something strange which I gave a deep thought. Infact what he said inspired this article.
He said: (Ibo proverb) “a man who does not know when the rain started beating him ,will not know when it stopped” he went on to say “if it came by unknown person(s), then it will vanish in unknown way(s)”
The reasons he further gave led to the developments of the following :
BITCOIN UNKNOWN INVENTOR(S)- A CAUSE FOR CONCERN
Hey Mr. think about this: how many of the world’s great inventors will not solidly come out and stand behind that which they created or invented? Why is/are bitcoin inventor(s) anonymous?
Sean Williams, a Motley fool, and a graduate from UC San Diego with B.A in economics, in his article: Why I will never invest in bitcoin. said:
“If global governments discover that criminals or terrorists are using bitcoin to fund their activities — and at present there are very few checks and balances in place to weed out this sort of behaviour — it could prompt a crackdown. If governments around the world instituted regulations that made it difficult to own bitcoin, we could see prices plunge.
Likewise, added government involvement would reduce the prized invisibility that bitcoin holders love so much, which could just as well create an exodus out of bitcoin, hurting its value.”
I only wish that each individual could somehow be identified with his or her own wallet address, such that we don’t just go to blockchain to see a computer Algorithim (hash) and a wallet Address, but we can see the individual’s identity too.
What if a there was a cyber attack on the blockchain network? Everything is electronical, created electronically and held electronically.(and possibly destroyed electronically)
Pardon me for being unprofessional.
There are about 21 million bitcoins, what do you think will happen when all has been mined? Who will pay the miners? maybe charges will increase then.
Well actually everybody has his or her own decision, to make, for example I am not wiser than the government of most countries who legalized the use of bitcoins.Recall the opening words of this article, “If you had invested $1,000 in Bitcoin just two months ago and sold it yesterday, you would have made about $9,000 in profit.”
I will not discourage anybody from investing, but I must say, “don’t bite more than you can chew” do not invest an amount that you can’t bear to lose. If possible maintain a balance between digital currency and the paper currency.
If you have already accumulated BTC why not transform some to local currency, while you continue to mine for more. Put emotions (Fear and Greed) which drive investment to check.
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