HELIXXRICH

HELIXXRICH

Why would I buy Bitcoin? It is so volatile. 

BAM

Bitcoin is a highly volatile asset, but it can also offer a great return on investment. Many investors buy bitcoin because they believe its longterm potential is high, and they are willing to take on the risk of price volatility in order to benefit from potential gains. Bitcoin also offers a number of benefits that traditional investments dont, such as its global nature, low transaction fees, and decentralization. Ultimately, the decision to buy bitcoin is up to you and should depend on your individual investment goals and risk tolerance.

HELIXXRICH

But why would you invest your money in bitcoin it has dropped 80% from its highest price? Seems very risky to me.

BAM

Investing in anything carries a certain amount of risk, and the same is true for Bitcoin. However, it is important to remember that the price of Bitcoin has seen some very impressive gains since its inception. In it’s history it has always returned to it’s all time highs and has gone far beyond that in its price.

It’s important to note that Bitcoin has only been in existence for 13 years. It’s value started at zero in 2009. At a value of $16,950 today it has gone up 32 million percent (32,000,000%) in that time.

Additionally, many experts believe that Bitcoin has the potential to continue to increase in value over the long term. As such, investing in Bitcoin can be a very attractive investment for those who are willing to take on the risk.

HELIXXRICH

What do you mean by global nature and decentralization?

BAM

Global Nature: Bitcoin is not a national currency; it is considered to be a global currency that allows anyone from any part of the world to use it as a form of payment. Decentralization: Bitcoin is decentralized, meaning that no single institution or entity controls it. The cryptocurrency is maintained by a network of computers and is overseen by a consensus system of miners who use powerful computers to verify transactions on the network called the blockchain. The blockchain is public, allowing transactions to be tracked and viewed by anyone.

 

HELIXXRICH

Buy didn’t China ban Bitcoin? As soon as you threaten the dominance of the US Dollar the US Government will ban Bitcoin as well. Politicians want to be able to print money to infinity to fund their corrupt system, they won’t let Bitcoin get in their way.  

BAM

It is highly unlikely that the US government would ban Bitcoin. Bitcoin is decentralized, meaning it is impossible to ban entirely, and it is becoming increasingly popular with multiple bi-partisan bills in congress designed to implement safeguards against fraud. Additionally, the US government regulatory agencies have thus far taken a relatively handsoff approach to regulating Bitcoin and other cryptocurrencies, so it is unlikely that they would take drastic measures to limit its use. But in the aftermath of the FTX scandal we will wait and see.

 

BAM

Despite enforcing a major cryptocurrency ban one year ago, the Chinese government still protects local crypto investors as crypto is recognized as virtual property protected by the law.

One of the world’s most hostile countries toward Bitcoin, China has not yet banned the possession of cryptocurrencies, according to David Lesperance, founder of Lesperance & Associates law firm.

 

Crypto holders in China are protected by the law in case of theft, misappropriation or breach of a loan agreement, Lesperance told Cointelegraph. He emphasized that crypto exchanges are still banned in China.

https://cointelegraph.com/news/possession-of-bitcoin-still-legal-in-china-despite-the-ban-lawyer-says

 

Leave A Comment