HELIXXRICH

HELIXXRICH

Crypto keeps blowing up every other week it seems. Now there are rumors that Binance is insolvent or in big trouble. How does Bitcoin survive that? It’s the biggest exchange! How much more can the industry handle before it all goes to zero?

BAM

Bitcoin is different than crypto in that it is the first and most widely used cryptocurrency. It is also the most secure and most widely accepted blockchain technology. Bitcoin is designed to be decentralized and immune to government or financial control. Bitcoin has a long history and has been around since 2009, while many other cryptocurrencies have appeared in the last few years. The industry can handle more challenges, as Bitcoin is resilient and will continue to survive. The industry is still in its early stages, and it is evolving as more and more people join and learn about the technology. Innovations in the industry are also helping to make the industry more secure and reliable. No one can predict the future, but it is highly unlikely that Bitcoin will go to zero. Bitcoin has a strong and dedicated community, and its decentralized nature makes it difficult for any single entity to control or manipulate the currency. Additionally, the number of businesses and individuals accepting Bitcoin is growing, making it a more viable option for payment

 

Helixxrich 

What innovations in the industry are making Bitcoin more secure and reliable? The price sure has tanked doesn’t give me much confidence. .

BAM

1. Lightning Network: The Lightning Network is a layer2 protocol that allows for faster and cheaper payments on the Bitcoin network. It enables instant transactions with nearzero fees, while making the network more secure and reliable. 2. SegWit: Segregated Witness (SegWit) is a Bitcoin improvement proposal that aims to optimize the way data is stored on the blockchain by separating the signature data from the transaction data. This reduces transaction fees, speeds up transaction times, and makes the network more secure. 3. Schnorr Signatures: Schnorr signatures are a cryptographic signature scheme that is seen as a major upgrade to Bitcoins current signature algorithm, Elliptic Curve Digital Signature Algorithm (ECDSA). It increases the security of Bitcoin transactions and reduces the size of the transaction data, making it more costefficient. 4. Atomic Swaps: Atomic swaps are a way to securely and trustlessly exchange different types of cryptocurrencies without the need for a thirdparty. This allows for more freedom in the crypto space and opens the door for more efficient and secure crosschain trading.

BAM
The volatility of Bitcoin is a result of a number of factors, including market speculation, demand and supply, news and macroeconomic events, and regulations. Bitcoin is a relatively new asset class and as such, it is not immune to high levels of volatility. However, this volatility can be seen as a sign of a free market, as it allows investors to take advantage of price movements and benefit from their investments. Some believe that todays prices represent a generation wealth building opportunity.
 
Bam holds it’s Bitcoin for the long term and believes Bitcoin is the antidote to an antiquated and corrupt legacy system and is the biggest monetary and computer innovation in 500 years. Bam only buys and holds Bitcoin in self custody as a long term hedge against unprecedented money printing and debt worldwide.
 
Continue to do your own research as every individual has their own specific investing needs.
 
BitcoinBAM does not offer financial advice.

Helixxrich

Tell me more about the Bitcoin lightning network. That sounds pretty cool. Could change some things if it gets adopted.

BAM
The Bitcoin Lightning Network is a payment protocol that operates on top of the Bitcoin blockchain. It is designed to enable fast, lowcost transactions that can be sent and received without the need for a thirdparty intermediary. The Lightning Network is beneficial in that it allows users to quickly and cheaply send and receive small amounts of Bitcoin without the need to wait for long confirmation times or pay high fees. Additionally, it is designed to be a secure and trustless system, meaning that users can transact without having to trust each other. This creates a trustless system that is more secure than traditional payment networks. Finally, the Lightning Network is beneficial because it enables instant and lowcost transactions that are not possible with the Bitcoin blockchain itself.

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