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[Dagov]

How does Bitcoin work?
Bitcoin has the potential to alter the global financial system. In addition to being used as a form of payment, it may also be used for voting, initiating trusts, wills, and collaborations, future marketplaces, fundraising, centralized domain names, and all other essential aspects of an ethical monetary sector.

The emergence of digital money is only the first stage in the development of a unified, worldwide financial system.

 

[Flower]

There are a lot of lessons to be learnt from El Salvador for any country that wants to delve into accepting bitcoin as a legal tender. El Salvador has made huge losses because I could remember that they bought bitcoin when it was above $50.

It is true that El Salvador bought bitcoin when it was above $50k and that is why it is a colossal loss for the country, except if bitcoin could make a rebound and move upwardly above the 50k which it was bought.

 

[ammu40]

There are a lot of lessons to be learnt from El Salvador for any country that wants to delve into accepting bitcoin as a legal tender. El Salvador has made huge losses because I could remember that they bought bitcoin when it was above $50.

Indeed, El Salvador's experience with Bitcoin as a legal tender offers valuable insights for other countries considering such a move. It highlights the importance of conducting thorough research and carefully weighing the potential risks and benefits before making any decisions.

 

[ammu40]

Bitcoin works as a decentralized digital currency that uses a peer-to-peer network to enable secure and transparent transactions. Here are the main steps of how Bitcoin works:

Creating a Bitcoin Wallet: A Bitcoin wallet is a software program that allows users to send, receive, and store Bitcoin. Users can choose from various types of wallets, including desktop, mobile, web, or hardware wallets.

That's a great overview of the first step in the Bitcoin process. After creating a wallet, the next step is to obtain some Bitcoin, which can be done by purchasing it from a cryptocurrency exchange, receiving it as payment for goods or services, or mining it.

 

[Riberet19]

Indeed, El Salvador's experience with Bitcoin as a legal tender offers valuable insights for other countries considering such a move. It highlights the importance of conducting thorough research and carefully weighing the potential risks and benefits before making any decisions.

The risks of any investment should always be considered exhaustively before making any type of investment, in addition the risks can grow or decrease as time passes that is why research and education have to be daily, you should never stop being informed of your investments, because there is always new information

 

[Margery]

Bitcoin is a decentralized digital currency that operates on a peer-to-peer network without the need for a central authority. Transactions are verified and recorded on a public ledger called the blockchain, and new Bitcoins are created through a process called mining, which involves solving complex mathematical equations.

 

[makanaki]

Bitcoin is a decentralized digital currency that operates on a peer-to-peer network without the need for a central authority . Transactions are verified and recorded on a public ledger called the blockchain, and new Bitcoins are created through a process called mining, which involves solving complex mathematical equations. Bitcoin provides users with a secure and anonymous way to transfer money, and has become increasingly popular among investors and traders as a form of digital currency.

 

[Margery]

In 2017, El Salvador was the first country in the world Bitcoin as a legal payment fund. This gave reason for other countries to take such measures. To make sure that Bitcoin is a legitimate payment means, El Salvador published a law regulating its use and production. The law also determined the procedures for users who want to use cryptocurrency and regulates their rights.

 

[Kennysplash]

Bitcoin is an alternative form of payment that is second to the Fiat currency of every country. It has been around for quite a long time and it is volatile in terms of price. It can be a good investment as well especially long-term.

 

[Margery]

Bitcoin is an alternative form of payment that is second to the Fiat currency of every country. It has been around for quite a long time and it is volatile in terms of price. It can be a good investment as well especially long-term.

One of the biggest risks of investing in bitcoin is its volatility. The price of bitcoin can fluctuate greatly in a short amount of time, making it a very speculative investment. Moreover, Bitcoin is not backed by any physical asset or guaranteed by any government, making it a relatively untested and risky investment.

 

[Kennysplash]

One of the biggest risks of investing in bitcoin is its volatility. The price of bitcoin can fluctuate greatly in a short amount of time, making it a very speculative investment. Moreover, Bitcoin is not backed by any physical asset or guaranteed by any government, making it a relatively untested and risky investment.

Of course, volatility is another word for risky and it can be synonymous to great profit as well. I know a lot of investors that have made a lot of money in their investments. So that is Bitcoin for you.

 

[Wisdom01]

Bitcoin is an alternative form of payment that is second to the Fiat currency of every country. It has been around for quite a long time and it is volatile in terms of price. It can be a good investment as well especially long-term.

It's really one alternative payment method many have relied on , some people have been able to see how beneficial Bitcoin have been , it have always been a great payment method for many that want to run transaction

 

[Kennysplash]

It's really one alternative payment method many have relied on , some people have been able to see how beneficial Bitcoin have been , it have always been a great payment method for many that want to run transaction

Yes, especially for people from countries that have limited mode of payment. You can imagine if there is no cryptocurrency how would we be paid for our work on forums. So it has been helpful for us.

 

[Margery]

Of course, volatility is another word for risky and it can be synonymous to great profit as well. I know a lot of investors that have made a lot of money in their investments. So that is Bitcoin for you.

On bitcoin and other cryptocurrencies, they earn due to their high level of volatility, as you write correctly! It was always possible to make money on bitcoin if you catch the market trend in time! Otherwise, you can merge the deposit.

 

[Kennysplash]

On bitcoin and other cryptocurrencies, they earn due to their high level of volatility, as you write correctly! It was always possible to make money on bitcoin if you catch the market trend in time! Otherwise, you can merge the deposit.

The key to making profit is being able to read the market correctly. Sometimes there are trends in the movement of the price that shows whether it will go up next or go down. So can you use it to guide yourself when trading.

 

[Margery]

The key to making profit is being able to read the market correctly. Sometimes there are trends in the movement of the price that shows whether it will go up next or go down. So can you use it to guide yourself when trading.

Everything is correct! If the price goes up, then you need to wait for a good rise and sell after fixing the profit, if it went down later, then you can buy in addition. Thus strengthening your investment portfolio. That's how they earn.

 

[Gen Evie]

Each Bitcoin is a digital asset that can be stored at a cryptocurrency exchange or in a digital wallet. Each individual coin represents the value of Bitcoin's current price, but you can also own partial shares of each coin. Bitcoins are exchangeable for fiat currency via cryptocurrency exchanges and can be used to make purchases from merchants and retailers that accept them

 

[Margery]

Bitcoin is a digital asset whose transactions take place in the blockchain, or rather, it is recorded in it. It is impossible to change a transaction after it has been sent, but it makes little sense to do so, since the validators will not confirm such a transaction and it will not be carried out.

 

[Riberet19]

Everything is correct! If the price goes up, then you need to wait for a good rise and sell after fixing the profit, if it went down later, then you can buy in addition. Thus strengthening your investment portfolio. That's how they earn.

That is the winning strategy, although many simply find it difficult to do it that way, as they say volatility is your friend, you can get a lot out of it if you have the necessary skills for it and also the economic resources, it all depends on the investor, there are some who fall the price sharply and sell everything they have in panic this is the worst thing one can do sincerely.

 

[Margery]

That is the winning strategy, although many simply find it difficult to do it that way, as they say volatility is your friend, you can get a lot out of it if you have the necessary skills for it and also the economic resources, it all depends on the investor, there are some who fall the price sharply and sell everything they have in panic this is the worst thing one can do sincerely.

Yes, that's how I wrote it! The strategy is quite simple and advantageous, but you still need to be able to use it. From the outside, everything is easy and simple, especially when a person writes about it on the forum who has nothing to do with it.

 

[Bigron]

Bitcoin has no central authority. This means that it is not governed by a single entity, group, or government. This gives users greater authority over their money and protects them from governmental corruption. Cryptography is used to secure transactions on the Bitcoin network, making them hard to hack or tamper with.