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What's Bitcoin?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

I would like to start learning more about Bitcoin. I am 52 years old and I have been hearing about crypto from my son for a very long time. But he does not share information with me because he considers me incompetent.

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7 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Hi. When you buy a cryptocurrency, you purchase the asset upfront in the hope that it increases in value. But when you trade on the price of a trader bot, you can take advantage of markets that are falling in price and rising. This is known as going short.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Bitcoin is a digital currency similar to, but more technologically advanced than, traditional money.

Bitcoin is often described as an "anonymous" currency, meaning that the total amount of Bitcoins in circulation is kept secret by a worldwide network of computers. 

This helps Bitcoin avoid the problems faced by conventional currencies: Governments can't print more money without losing control of the value of their own currency and falling into inflation. Inflation makes people poorer and it's a major problem. (The U.S. government has been trying to combat it since the 1970s.)

Bitcoin is also "decentralized," meaning that it doesn't have one central administration or governing body like conventional currencies do. Instead, it's managed by a peer-to-peer network of computers called miners, who verify all transactions using special software called Bitcoin code (the distinctive symbol for Bitcoins).

Bitcoin's supporters say that it offers tremendous advantages over conventional currencies because it allows people to transfer money without paying fees and without reporting to anyone else how much money they have and where they're spending it. 

That makes Bitcoin attractive to libertarians, who believe in limited government and personal freedom. omegle, chatrandom, bazoocam

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

 

I learned some valuable details about bitcoin today, and it is great for me. I will use the bitmain e9 to learn more about bitcoin, and I will start investing in it. I think bitcoin is a good way to earn money.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

Well, there are both benefits and detriments to being senior when it comes to cryptocurrency traders. Because you become much more careful with age, most of my older acquaintances that trade only do the btc to usdt trades to play on the Bitcoin's USD value. They avoid any risky investments and use the exchanges to make their money using the method I described.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

That's a shame, I don't think age matters when it comes to cryptocurrencies. In fact, your experience will be an advantage for making good investments.

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1.gif.214558b223cd0ae291c916b0e21c3c8b answered

Good day. everyone. I think that in order to learn as much information as possible on the subject of bitcoin and any other cryptocurrency, I can advise you to read more explanatory articles on the Internet, videos on Youtube and several reviews on this site. This is quite an interesting information.

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1d6e89e2ba27fe3ffbb0156937592f65 answered

I think your son is just worried about you and your money.

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Frod0Beg commented 9 months ago

Good luck! I trade foreign currency, so I can't help you there. By the way, haven't you thought about joining this side of trading? It's easier to profit that way, so you can try Switchere. Just <a href="https://switchere.com/exchange/buy-bitcoin">buy bitcoin with credit card</a> and start making money. I'm sure it won't be a problem if you're already familiar with the sphere.I think this is good enough and if you are into cryptocurrency you should try it too. Good luck!

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