So you're thinking about investing in bitcoin? Don't

Bitcoin cash worth investing reddit

Bitcoin cash worth investing reddit

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While altcoins is the term used to call cryptocurrencies that aren’t Bitcoin (the original one,) Bitcoin-based means exactly that: These altcoins aren’t separate, independent projects.

Bitcoin Cash Price

Investing means buying an asset that actually creates products, services or cashflow, such as a profitable business or a rentable piece of real estate, for an extended period of time. An investment is something that has intrinsic value – that is, it would be worth owning from a financial perspective, even if you could never sell it.

How Does Bitcoin Work? Bitcoin Explained for Beginners

To answer why bitcoin has become so big, we need to separate the usefulness of the underlying technology called “blockchain” from the mania of people turning bitcoin into a big dumb lottery. Blockchain is simply a nifty software invention (which is open-source and free for anyone to use), whereas bitcoin is just one well-known way to use it.

5Things to Know Before Investing in Bitcoin (2020 Updated)

The second point is crucial. Bitcoin is only valuable if it truly becomes a critical world currency. In other words, if you truly need it to buy stuff, and thus you need to buy coins from some other person in order to conduct important bits of world commerce that you can’t do any other way. Right now, speculators are the only people driving up the price.

With ongoing speculation about increased regulation and oversight, it remains to be seen whether cryptocurrencies will be able to break into the mainstream and offer a viable, widely accepted alternative to fiat currency.

There is no official Bitcoin price. Bitcoin’s price is set by whatever people are willing to pay. Buy Bitcoin Worldwide’s is a good resource for the current and historical price.

Government-issued currencies have value because they represent human trust and cooperation. There is no wealth and no trade without these two things, so you might as well go all in and trust people.

Bitcoin Cash is a very interesting project and, as one of the world’s highest-market-cap digital currencies, clearly one that many crypto enthusiasts are watching with interest. If it can achieve widespread adoption not only among the cryptocurrency community but also in mainstream society, there may be potential for growth, and it does offer a few key points of difference when compared to bitcoin.

It chases the original idea of BTC, where cryptocurrencies were thought to exist simply because people would use them, without giving the blockchain some extra uses.

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