Blockchain for beginners

Blockchain for beginners

Blockchain for beginners

Blockchain explained very simply. Bitcoin has made it possible to handle financial transactions between two parties directly without having a middleman in between to control this. And who ultimately controls this transaction? All participants in the Bitcoin network control the transaction and thus the bank is eliminated. This is only possible because there have been advances in network technology and all transactions are no longer centrally located on a server (the bank), but all information is simultaneously available on all computers in the network.

Consensus decides, as in democracy

So you can no longer cheat a single instance, but would have to corrupt the whole network and this is not possible today. This is why we also speak of decentralized regulation. The majority decides which transactions are approved. At Bitcoin, this is done via the Konsenus Proof of Work. and is made by the miners. The power lies with all and no longer with the individual. Actually nothing else theoretical than in a direct democracy.

More at www.blockchainguru.ch

Buy Bitcoin, yes or no?

Buy Bitcoin, yes or no?

Bitcoin&Co. in everyday life

Bitcoin is meanwhile really nothing new and actually everyone knows this crypto currency. Most questions are whether it is still worth investing in Bitcoin?

One does not become rich overnight!

The persons, who are from the outset thereby in Bitcoin are meanwhile millionaires and paid besides no cent for the Bitcoin, since they mined from the outset. But even these did not become rich overnight, it took several years until the Bitcoin really gained in value. Today it is no different. Whoever buys Bitcoin today should not think that he will become a rich man overnight, but should think longer-term. I’m sure the Bitcoin will reach $100000 and maybe even more, but that happens intermittently and then in a few years. But I buy Bitcoins every two weeks (I have a savings plan at Bitpanda) and I am sure that in a few years I will benefit from it. If it goes down or up a bit, I don’t care, because I think longer term.

Alternative Investment

Bitcoin is certainly a good investment for the coming years and decades. The possibilities are certainly not as huge as when you were there from the beginning, but at least the potential to make ten times your investment is not bad either? I know from a reliable source that the rich have at least invest 1% of their assets in Bitcoin and they know why. They have the best consultants and sources and therefore they see a bright future in their investment in Bitcoin.

Yes or no to crypto currencies

Conclusion: Yes, I would recommend everyone to buy Bitcoin and even some other coins, but not with the expectation of being rich overnight. It is an investment for the next few years or decades. So make yourself a savings plan and buy some Bitcoins every few weeks. If you click on the following picture, you will find a good dealer with good prices and about 30 other coins you can buy.

A good dealer from Austria

 

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