Bitcoin is a cryptocurrency which means it is an alternate currency to our own. Bitcoin adds a new element to the world economy and it cant go through inflation. Bitcoin is supported by thousands of people "mining" for bitcoins. 1. Bitcoins unlike the federal currency are not backed by federal funding and banks to make it secure, instead they have separate people making it secure. 2. Bitcoin mining is where you make your computer do complicated math equations while you slowly rake it bitcoin profit by helping the security of the currency. By offering an incentive (bitcoins) for securing the currency they make people want to help, getting stronger by the day. Bitcoins are an economic revolution and their functions are useful and plentiful.
Because if it becomes illegal then millions of people will their money they have investes there will in ther will also be inflation as many peole wil lose money and to get more money they will icrese the price of broducts or serices so think before voting for no .
As long as people use it legally then I don't see a reason to take it away, when u take away a fun way to bet and make money when ur lucky then your frustrating a lot of good people who are using it correctly. Find a way to stop people from doing something illagal
There is no reason why bitcoin shouldn't be legal. If people believe that an item, whether physical or virtual, has value, then they should be allowed to use it for trade. Currency does not need to be officially endorsed by a government. Gold, for example, evolved as a currency before any government decided to use it.
No, I do not think that Bitcoin should be legal and that each country or region should just keep on using their own currency. Bitcoin should just be used for online purposes only, and can make a decent investment tool, but I think most people like to be able to touch money.
I'm gonna refer to cryptocurrecy as bitcoin from this point onwards because it is too long to type.
1. Bitcoin uses gpu tech intended for gamers to do their mining. They are effectively hogging almost all of the gpu stocks.
2. As it is not a 'real' currency, The inflation and deflation is too unpredictable to make educated guesses on how to profit whilst using it. A lot of people make business by buying and selling bitcoins. It is more of a gamble when you buy and sell bitcoin.
The price of bitcoin can go up or down by about 50% at times.
3. It is destroying the value of real money albeit only by a little. Different countries have different currencies and the value of one currency is not the same as it is in other countries. By this logic since bitcoin is treated as a 'world' currency, Countries won't profit if their citizens are using a more generlized currency.
4. Bitcoin is impossible, If not extremely difficult, To track down. That's why illegal transactions are done using this currency. This is the strongest case.
Yes very bad it is. It is really bad. Maybe extremely bad. Bad enough to cause death. Death of many trees. Trees produce life. If they die we die. If we die earth will live again. Then all the bacteria is recreated earth. New earth means new humans. New humans make new babies. New babies grow up to send people to space. The new humans look through a strong telescope back in time to see our human race extinction and keep trees so they dont die.
If it is possible to separate the blockchain technology from the bitcoin currency, we should keep the tech, but get rid of the currency. Think of it this way: the blockchain tech is the blueprint for a house, we followed the blueprint to make the house. But later, the house we built for positive reasons has become a casino. Should we still keep the casino, even though it is giving us negative results?
Bitcoin is used to do the illegals and doing the illegals is morally wrong. If you are wanting to do the illegals then do it with pride and go run around Central Park without any clothes on. The the the the the the the the the the the the the the the the the the the the the the the the the the the