Review on Bitcoin by RODRIGO REIS
Some people argues that Bitcoin is a bubble. On the other hand, experts argueโฆ
Some people argues that Bitcoin is a bubble. On the other hand, experts argue that this is the future of money, something that may even become greater than the dollar itself or gold itself. But after all we must all have a value invested in Bitcoin. I believe it will rise in value in, btreve
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Updated 5 years ago
Rating has not been changed
This week, Bitcoin did not have an easy life. In addition to major devaluation, US Treasury Secretary Steven Mnuchin warned that the Trump government would make heavy regulations against cryptocurrencies, especially Bitcoin to prevent the use of cryptocurrency to fund criminal activities.
However, Bitcoin showed strength on Thursday with an interesting appreciation, signaling that there was no relationship between the fall and the political opinions expressed in recent days. This would be an important demonstration that Bitcoin is not entirely dependent on the decision and opinion of governments.
Several analysts have been showing great enthusiasm for the appreciation of Bitcoin in recent weeks and projecting still mega-valuations for the coming months. But if that happens, there really is no need for it, since we are at a time when the cryptocurrencies are drawing great attention from the authorities, great attention leveraged by the creation of the Pound by Facebook
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Pros
- Decentralized. That is, it is not controlled by any institution; the validations of transactions and the records of all system operations are performed by the users themselves from specific rules. Open code. Anyone with technical knowledge can analyze and understand exactly the whole operation of the system, unlike banks that do not disclose their systems. Transactions are public. To allow system security, all transactions are verified and validated and can be consulted at any time by anyone. Transactions are fast. Bitcoin runs 24 hours a day, 7 days a week, and a transaction takes about 10 minutes on average to be processed. There are no continental barriers. Sending to a person on the other side of the world has no difference in time or rates. The rates are low. Bitcoin is safe and has several storage portfolios(wallets)
Cons
- The legal status of Bitcoin varies drastically from country to country. In some, the use and trade of BTCs is encouraged, while in others it is prohibited and is illegal. Some of the world's governments still have no regulation on the BTC, while others have banned it. Its value is unpredictable, changes rapidly and drastically, which can cause significant financial damage to a reckless investor.
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Comments (4)
April 30, 2020
Decentralized. That is, it is not controlled by any institution; the validations of transactions and the records of all system operations are performed by the users themselves from specific rules.
February 17, 2020
Bitcoin for sure after 10 years is not a bubble ,fia money is a bubble!
January 24, 2020
Regarding your critism: Bitcoin can't be banned, its decentralized. Of course a country can ban it but nobody can shot it down. So it will always have a value :)
