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    Bitcoins and Cryptocurrency: Scam, Bubble or Currency of the Future?
    Bitcoins and Cryptocurrency: Scam, Bubble or Currency of the Future?
    Bitcoins and Cryptocurrency: Scam, Bubble or Currency of the Future?
    Ebook55 pages31 minutes

    Bitcoins and Cryptocurrency: Scam, Bubble or Currency of the Future?

    By Dueep Jyot Singh

    ()

    Read preview

    About this ebook

    Table of Contents

    Introduction
    Knowing More about Cryptocurrency and Bitcoins
    How Many Satoshis Do You Have in Your Wallet?
    How Does a Bitcoin System Work
    Wallets
    Totally anonymous transaction implications
    Let’s Talk about Digital Reality
    Investing in Bitcoins (a.k.a. what’s life without a little bit of risk...)
    Monetary Standing of Cryptocurrency Vis-À-Vis Governments
    Bitcoin Funds and Scams
    Conclusion
    Author Bio
    Publisher

    Introduction

    Knowing More about Cryptocurrency and Bitcoins

    I have been talking about bitcoins and cryptocurrency with a number of my friends out there, because they seem to be very fascinated with this latest money exchange idea, especially as it is being publicized on the Internet extensively as the latest thing in digital currency and which is now being considered as a global money transaction phenomenon.

    The word “global” is a misleader and a misnomer. Around 90% of the people out there do not know about cryptocurrency, digital currency and digital cash because they couldn’t be bothered to learn about it. As long as they have currency in the shape of paper money and coins in their wallets with which to buy physical goods, why would they want to bother about any currency, which is in digital form, can be changed into local currency, and transferred into your bank account?

    Being practical, they also do not want to invest in anything, which like shares and debentures in a very volatile stock market have a price which fluctuates from $0.30 to $7,500 per bitcoin. There is absolutely no justification for this sort of fluctuation for a currency which appeared on the Internet, and has no legal standing anywhere in the world, acknowledged by monetary agencies and governments.

    This digital currency has been around for the past eight years, but it was only now that more and more people want to know whether it was a sensible idea to invest in cryptocurrency or bitcoins, because everybody was doing that.

    I told them that if they really wanted to invest in something and they had plenty of money floating around, why wouldn’t they want to buy gold and property. At least they had some visible proof that they had invested in a tangible asset. Also, take shares and debentures and as was the latest investment thing going around in the early 2000’s, penny shares, all of these are a gamble.

    But at least you know that the share market can go up because it has a solid background of economic and financial strength behind it. But what about a bitcoin which has only a digital background and absolutely no recognized monetary standing anywhere in the world except over the net? 18 million bitcoins have been mined by unknown cryptographers all over the world till date and are not acceptable legal currency of any country, known in the world today.

    LanguageEnglish
    PublisherMendon Cottage Books
    Release dateMar 3, 2018
    ISBN9781370667628
    Bitcoins and Cryptocurrency: Scam, Bubble or Currency of the Future?

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      Book preview

      Bitcoins and Cryptocurrency - Dueep Jyot Singh

      Bitcoins and Cryptocurrency

      Scam, Bubble or Currency of the Future?

      Dueep Jyot Singh

      Financial Learning Series

      Mendon Cottage Books

      JD-Biz Publishing

      Download Free Books!

      http://MendonCottageBooks.com

      All Rights Reserved.

      No part of this publication may be reproduced in any form or by any means, including scanning, photocopying, or otherwise without prior written permission from JD-Biz Corp Copyright © 2016

      All Images Licensed by Fotolia, Pixabay, John Davidson, and 123RF.

      Disclaimer

      The information is this book is provided for informational purposes only. The information is believed to be accurate as presented based on research by the author.

      The author or publisher is not responsible for the use or safety of any procedure or treatment mentioned in this book. The author or publisher is not responsible for errors or omissions that may exist.

      Download Free Books!

      http://MendonCottageBooks.com

      Table of Contents

      Introduction

      Knowing More about Cryptocurrency and Bitcoins

      How Many Satoshis Do You Have in Your Wallet?

      How Does a Bitcoin System Work

      Wallets

      Totally anonymous transaction implications

      Let’s Talk about Digital Reality

      Investing in Bitcoins (a.k.a. what’s life without a little bit of risk…)

      Monetary Standing of Cryptocurrency Vis-À-Vis Governments

      Bitcoin Funds and Scams

      Conclusion

      Author Bio

      Publisher

      Introduction

      Knowing More about Cryptocurrency and Bitcoins

      I have been talking about bitcoins and cryptocurrency with a number of my friends out there, because they seem to be very fascinated with this latest money exchange idea, especially as it is being publicized on the Internet extensively as the latest thing in digital currency and which is now being considered as a global money transaction phenomenon.

      The word global is a misleader and a misnomer. Around 90% of the people out there do not know about cryptocurrency, digital currency and digital cash because they couldn’t be bothered to learn about it. As long as they have currency in the shape of paper money and coins in their wallets with which to buy physical goods, why would they want to bother about any currency, which is in digital form, can be changed into local currency, and transferred into your bank account?

      Being practical, they also do not want to invest in anything, which like shares and debentures in a very volatile stock market have a price which fluctuates from $0.30 to $7,500 per bitcoin. There

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