Hello Everyone
I have to admit that I think I missed my week of hosting article. I am aware that it is not good to make some excuses but honestly my last week was a mess.
I woke up very early today remind my self that I almost missed my week.
Probably it will not be the best scientific article in the world but I hope it will give you some joy reading it.
http://www.ibtimes.com/online-payments-bitcoin-evolution-cryptocurrency-2546979
http://www.ibtimes.com/bitcoin-prices-surge-heres-why-cryptocurrency-skyrocketing-2543688
After you read maybe you will find some time to answer few questions that bothers me about this subject:
1. Heave you ever heard about a cryptocurrency? What is your opinion abut this?
2. What do you think about idea of decentralized currency free form any bank influence?
3. Would you invest your own money in any cryptocurrency?
Have a good end of the weekend.
Hello,
ReplyDeletevirtual currency topic was present on this blog couple times.
From the ages value of national currencies has its reflection in a gold. Virtual currency has not this kind of reflection, so it is not the safest method of storing the money. When bitcoin "was born" its value was about 40$ as I good remember. 1 year ago about 500$, right now 2 500$ :) ... I am afraid that is some kind of financial bubble that will be destroyed in a future. Additionally there is not a lot of places where we can pay using bitcoins. In my opinion banking systems will successfully inhibit virtual currencies. This virtual currencies can have negative influence on their income.
Thank you for the reply. I am aware that it is nothing new but like I said I had problem with time.
Delete1. Heave you ever heard about a cryptocurrency? What is your opinion abut this?
ReplyDeleteYes i have heard about cryptocurrencies before, but I am not optimistic about them. On the other hand the technology that stands as cryptocurrencies backend (blockchain) could be really interesting in the future.
2. What do you think about idea of decentralized currency free form any bank influence?
At this point there are not such thing as decentralized currencies (maybe with exception of local currencies such as zielony). For instance bitcoin is highly dependent on the Chinese miner majority, Ethereum has also its own centralized foundation.
3. Would you invest your own money in any cryptocurrency?
At this point not, but I think right now is good time to exit bitcoin investment.
Thank you :)
DeletePlease excuse me that I do not rise my voice in this discussion. Not because I have nothing to tell in this domain but rather I promise myself to not interfere in each IT topic.
ReplyDeleteIt is not a problem. Thank you anyway :)
Delete1. Heave you ever heard about a cryptocurrency? What is your opinion abut this?
ReplyDeleteYes obviously I have heard many many times about few cryptocurrencies. I think that it is nice that some people make money in this way, but as many people say one day this currency may just disappear and there is no one you can blame or ask for refund. I would be afraid to keep all my savings in this way, especially that some time ago people complained that their’s money disappeared. I don’t know what happened later but it is quite scary.
2. What do you think about idea of decentralised currency free form any bank influence?
I don’t believe that it is possible. All currencies, businesses and many other things are dependent on political issues, market and other things.
3. Would you invest your own money in any cryptocurrency?
I considered such possibility but I did not tried yet. Still I am not sure about safety of this. But maybe in few years it will be more popular and safe. But until this happens I don’t think I will do it.
Thank you for your reply.
DeleteI agree about refund problem but it is very similar to Stock Exchange. There is always a risk.
About the disappearing - it is not possible in my opinion. I could imagine situation that someone lost their coins when they lost their wallet or hard drive where they kept their currency. It is very similar like having a gold. They can not disappear unless you lost them.
Of course all of this is my way like I understand the trust of cryptocurrency. Maybe that is why it is so popular lately.
I heard about this currency. Bitcoin isn't based on trust with a central issuer. Bitcoin relies on transferring amounts between public accounts using public key cryptography. All transactions are public and stored in a distributed database. Bitcoin value growth is very fast, but I"m a supporter of the thesis that the currency should have a gold cover. I don't know at what basis Bitcoin is so fast gaining in value. Its decentralization is its disadvantage and its advantages at the same time. On the one hand it's free from manipulation and on the other it gives little guarantees of stability. At the moment I wouldn't invest in this currency, but on the other hand I think that for some time its upward trend will continue ...
ReplyDeleteThank you for your reply.
DeleteYou got right. The idea of cryptocurrency is based on limited amount of currency similar like gold. On our earth there is limited amount of this ore so it is not possible to have it all. Because of its rarity and uniqueness people trust this. In the past usa dollar was based on this assumption that's why it was one of the most trustful currency. Today it is not. We all know that gold parity is gone.
Back to the cryptocurrency. Like gold the amount of (for example bitcoins) is limited. One day the miners will mine them all so only users of this currency will have them. I think the value is growing because people are using this. Decentralization and privacy which is benefit from using btc is one of the thing that are missing this days. Perhaps it is a sign that we all heading to the wrong direction? :)
I agree with Wiesław that currency should have a gold cover. Relying only on something virtual seems very risky to me, even though I am not an expert in economy. But I admit that this is jus an opinion of a person for whom the subject of currencies have always been a mystery.
ReplyDeleteThere is, however, one interesting Bitcoin case study I've encountered recently. In Venezuela, where the nation has experienced serious inflation problem (prognosis say that it could go as high as 1,600%), Bitcoin appeared as an answer. I recommend the article about it: https://www.forbes.com/sites/realspin/2017/02/03/why-venezuelas-currency-crisis-is-a-case-study-for-bitcoin/#392b2f7819b2.
Thank you for the interesting links!
Thank you for your reply.
DeleteI think you just found your self an answer. In this days regular money has no parity in anything. So in situation when a country has a problem the central bank prints the money. This is one cause of inflation. Bitcoins like gold is limited that's why it has value. In future miners will mine them all and you can not cheat them because all bitcoins blockchains are public and can be verified.
Btc is not likely seen because it is not banks idea. Bank can not control it because they can not print them in some situation. They only can buy it.
Answering your last question, I would invest in cryptocurrency just for the sake of curiosity. It would be a thrilling experience for such an economical ignorant ;)
ReplyDeleteThank you for your reply.
DeletePlease do it with caution :)
Do not invest all your funds :D
1. Have you ever heard about a cryptocurrency? What is your opinion about this?
ReplyDeleteI read a nice interesting book called "The Bitcoin Big Bang" by Brian Kelly. It was quite interesting one.
2. What do you think about idea of decentralized currency free form any bank influence?
It is a nice idea bout very difficult to ahive in practice.
3. Would you invest your own money in any cryptocurrency?
Not at that point in time. I usually invest my money in thinks that are transparent for me. I do not have a time at the moment to follow that topic.
Thank you for your reply.
DeleteThank you for the book title. I will try to read this.
I respect that you invest in things are transparent for you. This is very good behawior. Cryptocurrency is very specific. Not all people believes and trusts computer algorithms especially in fields that are not well known.
Hi !, I understand in my week I did not have time to comment and edit.
ReplyDelete1. Heave you ever heard about a cryptocurrency? What is your opinion abut this?
I heard, The first thing that came to my mind now that I remember from the past is that you can not get her to wreck it. :)
2. What do you think about the idea of decentralized currency free form any bank influence?
This is quite an interesting point, but it is disturbing that currency fluctuations.
3. Would you invest your own money in any cryptocurrency?
No, but I think it is a tempting looking at Bitcoin exchange.
This comment has been removed by the author.
ReplyDelete1. Heave you ever heard about a cryptocurrency? What is your opinion abut this?
ReplyDeleteI heard about bitcoin, but I treat it more like curiosity than the real way of investing money. Maybe because I usually am cautious and distanced person, especially when it comes about money. For sure bitcoin has it's pros, it is decentralized and independent from banks, but still, it is only a virtual number somwhere in a web. I agree with Wiesław, that money should have their equivalent in gold.
2. What do you think about idea of decentralized currency free form any bank influence?
I like it, but banking is such a force nowadays, that I am not sure if something like cryptocurrency can replace the standard currency.
3. Would you invest your own money in any cryptocurrency?
Only for fun, but now I have more urgent needs to spend my money ;)
Ad. 1
ReplyDeleteCryptocurrency is a digital asset working as a medium of exchange, securing the transactions with cryptography. I guess it is our future.
Ad. 2
That would be interesting to see, what would happen in such case. That’s something I would like to see, I’d say. In my opinion, the banks behave like monopolists very often, they impose conditions which limit us in everyday life, so such scenario, when it is possible to organize ourselves financially without such institutions, would be very tempting to try.
Ad. 3
I guess I would, as I’ve written above, maybe I would start with something less serious, but having alternative possibilities different from traditional ones, could be very impressive.
1. Heave you ever heard about a cryptocurrency? What is your opinion abut this?
ReplyDeleteOf course I heard. Baloon currency, with value bumped by criminals and speculants.
2. What do you think about idea of decentralized currency free form any bank influence?
It's an awesome idea used by bad guys mostly to avoid banks and government. Not so long time ago criminals had to transport money hidden in trucks and so on, now they are buying bitcoins.
3. Would you invest your own money in any cryptocurrency?
No, even though it's tempting.
I have read few articles about Bitcoin. I think it is a very interesting idea and the most fascinating is a way it is secured. The key to new transaction is history of all transactions conducted with Bitcoin.
ReplyDeleteI like idea of currency not emitted by national government. On the other hand personally I don’t believe that supply of Bitcoin can’ t be changed.
I would not invest in cryptocurrency because it has to many benefits as privacy, easy access so probably governments will finally ban using them. It would cause significant drop in price so it is not the best idea for long term investment.
1. Have you ever heard about a cryptocurrency? What is your opinion about this?
ReplyDeleteYes, I have heard about bitcoin. I think that the future belongs to cryptocurrency.
2. What do you think about idea of decentralized currency free form any bank influence?
I see extreme possibilities. First of all from the user point of view it can be very flexible. Moreover it can equalize the chances of equal competition. On the other hand I see many threats to the economy – it will surely be a sensation.
3. Would you invest your own money in any cryptocurrency?
If I had I would invest ;) It looks like a great investment so far.
Rafał - thanks for your late article. Regarding your first question - YES and generally I like it, about second question – I think this is not good idea and final question – NO.
ReplyDeleteThank you.
DeleteThank you for your article. Unfortunately, I have just discovered that it was for the previous week.
ReplyDelete1. Heave you ever heard about a cryptocurrency? What is your opinion abut this?
Yes, I have heard about cryptocurrency. I think that most IT people heard about bitcoins. It may gain a lot of users in a future. I have never made a payment in bitcoins but I have heard opinions that it is easy and safe. If it gains more trust from people it may become a new popular way of transactions.
2. What do you think about the idea of decentralised currency free form any bank influence?
I think that it is very interesting. I am not a specialist but I wonder how it would affect the economy and real currencies. Will it cause that people will become richer if that can avoid banks? Or do they introduce some law to have control over cryptocurrency?
3. Would you invest your own money in any cryptocurrency?
I think that now I do not need to make such investments. I would think about it in the future when it becomes more popular and I will be able to consider all pros and cons of cryptocurrency.