Author Topic: Why Bitcoin (BTC)  (Read 87 times)

0 Members and 1 Guest are viewing this topic.

GIG

  • PMT Jedi
  • *
  • Posts: 1,351
  • Thanks Received: 7
Why Bitcoin (BTC)
« on: Jun 14, 2018, 10:24 AM »
Advertisement
Why bitcoin?


Heres the short end of the story.




Having had success in the stockmarket I needed to park my stash somewhere. Previously I held my savings in Bank Time Deposits. As the cash grew I noticed that the buying power of that cash doesnt really remain. It tends to depreciate as our national currency the Php tends to depreciate against the dollar. So I read up on which currency should I store my savings in. The dollar was a favorite since all things are valued in USD, but then the financial crisis came. Then I found out and realized that the dollar has no intrinsic value and whats holding its water is just the pure "Trust" in the United States that it would pay its debt. I mean trust in the worlds most powerful nation both economically and militarily is not by any means a small notion. But then again its just trust. The USD is not back anymore by gold or anything we perceived as tangibly valuable. So for that time on I was putting my savings in Singapore Dollar. Then came Bitcoin. First I thought it was a scam, then I read up on it and really get under its skin. From where I stand now, Bitcoin could be a very timely and suitable currency in storing my savings.


Here is what I like about it. All of these are potential right now


1. Store of value because its finite - only 21 million BTC fully mined
2. Trustless and cannot be hacked - no third party involved so it brings about
3. Low transaction fees
4. Outside government control - so we dont end up like Greece where your savings are withheld from you as the government is suffering from cash hemorrhage.


All this achieved by Satoshi Nakamoto simply by fusing cryptology and basic accounting. Thats what bitcoin is all about. An incorruptible ledger where all transactions can be viewed by everyone. Currently, the bitcoin code cannot be hacked yet. In the far future, well thats another story.




Now havings said that, Bitcoin does not come without any problems. Major ones how I rationalize them follows:


1. its erratic valuations - its still finding its level. We are still witnessing its dawn
2. very hard to secure your key -  study up, lots of it and then you couple that with a bit of common sense
3. very easy to lose them -  again study up
4. Scams abound in its space - study up
5. Some governments are against it - we are afraid of what we do not know yet syndrome but my concern is why the government try to stop fiat to crypto and vice versa transactions.
6. Who really is Satoshi Nakamoto - yeah, I would prefer he be known so I can do a background check on him. The clues left in the net do not paint a whole picture of him.


Now we come to the question on how much do you invest in bitcoin. Quick answer is the cash you can afford to lose. Start small like P500. Read and study up, hold down your emotion and if your confident and rational enough then put in some more cash.


Until next time, do share any of your bitcoin questions or experiences here and I will be happy to help or listen.
« Last Edit: Jun 14, 2018, 10:27 AM by GIG »

 


PMT Shoutbox

Refresh History
  • CuriousDB: Is Amaia Skies in Shaw a good investment opportunity in terms of rental income?
    Jun 16, 2018, 02:08 PM
  • nerdyimay: besh saan nkkbili ng murang mannequin
    Jun 12, 2018, 03:41 AM
  • MeEnamore: I'm looking for someone who can help me add money to my paypal account without bank account. Please.
    Jun 09, 2018, 10:21 PM
  • 3iuoj: Fundko legit ba?
    May 23, 2018, 08:43 PM
  • katiepuno: sino po nagpapa loan here?
    May 19, 2018, 06:07 AM
  • Forexanalysis: hello all
    May 11, 2018, 01:43 PM
  • saiyan125: Hello, I have a 01 hectare agricultural land in Magsaysay, Quezon. I want to lease it to a company or person who is interested to develop this land.
    May 09, 2018, 08:19 PM
  • SeekJustice: RIVERGREEN unit of CDC REALTY maging fair kayo huwag kayo manlamang ng kliyente nanamantala kayo
    Apr 29, 2018, 12:54 PM
  • ishteldalosa: Hello. Anong book po puwede niyo marecommend for affiliate marketers? Thanks!
    Apr 27, 2018, 06:46 PM
  • jmmj1123: sir or mam
    Apr 27, 2018, 10:39 AM
  • jmmj1123: good morning
    Apr 27, 2018, 10:39 AM
  • plouie021: pm me naman po dun sa mga nagpapa loan dito. thanks
    Apr 26, 2018, 03:36 AM
  • wonli87: Interested in doing captcha sa phone nila,  pm me for details.  This is not networking haha pure captcha job
    Apr 24, 2018, 10:03 AM
  • bizmaxpower: @ cadientejomel <-- try to respect this chat room stop posting your referral links here.
    Apr 24, 2018, 02:57 AM
  • n0name_04: Good day po! If you are new in the stock market and want to identify the mistakes newbies do in the stock market, you can read this ebook "The 20 Pitfalls You Must Avoid If You Are New In The Stock Market". This ebook will show the mistakes to avoid in the stock market before you commit them in the first place.If you commit less mistakes, you will increase your chances of earning in the stock market as compared to newbies out there. Please visit www.stockmarketbeginnerbook.com to get your copy. Thank you!
    Apr 23, 2018, 08:03 PM
  • cadientejomel: Sino gusto kumita? Legit to.
    Apr 22, 2018, 01:56 PM
  • Senyor: welcome to the Sensational Bull Runs mga kabayans... BAT: $.40 cents ViTA: Php3.15
    Apr 22, 2018, 01:13 PM
  • wonli87: Hi all,  has anyone heard about uvumoneysite?  Need to know if this is legit
    Apr 21, 2018, 01:40 AM
  • SeekJustice: Please lang po ang CDC REALTY we thought tapos na kmi sa balance nmn sa rivergreen nagbayad kmi dapat move in na kaso ang sinasabi  meron daw kmi bayaran na interest wala po kami loan how come they will charged an interest. 2016 turn over daw pero hindi natuloy un dahil sa issue ng museum nasa news pa noon yun then natuloy ng 2018 1st qrtr kaya kmi napauwi ng Philippines para ayusin at bayaran lahat ng dapat bayaran sa Rivergreen yun pla gugulatin kami ng ganun unfair ang ginagawa nila i want to report to HLURB kaso me mga cases hindi nla naasikaso meron po ba mkakatulong po sana na magrecommend na abugado po ng real estate please thank you
    Apr 20, 2018, 06:07 AM
  • mitzc: hello people! newbie here and I am particularly interested for the informations about stocks investments.. MF/UITF/VUL.... i have been reading some discussions from the forums here and they are all informative so i decided to register so I can participate in the discussions and probably some people here can help me understand how the stocks works. KUDOS to the moderators. thank you in advance
    Apr 18, 2018, 04:03 AM
  • bizmaxpower: Kung totoo man yan walang tao dito sa Pinas na maghihiram ng ganyan kalaking pera imbes nakatulong problema pa ang nangyari ang iba sa kanila ay hind realistic ang presentation!
    Apr 13, 2018, 12:46 PM
  • bizmaxpower: Babala sa mga kaPTMers ingat sa mga Scammers ang mga iba niyan ay galing pa sa ibang bansa. Kung common sense lang ang paguuspan bakit kelangan nila magalok ng services dito sa Pilipinas.
    Apr 13, 2018, 12:44 PM
  • saly: Hello po.. magttnong lang po ako kung paano po proseso ng  smart padala.. gstu ko po sana ksi sya idgdg dto sa maliit na tindhan ko..
    Apr 11, 2018, 09:53 PM
  • John AG: hello po
    Apr 11, 2018, 04:31 PM
  • ASARABIA04: Hi Im looking for an agent of Sunlife , Prulife UK and Philam life? message me ASAP
    Apr 08, 2018, 10:48 AM
  • ASARABIA04: ASARABIA04
    Apr 08, 2018, 10:47 AM
  • jiggoy29: Hello po, ask ko lang kung ano mga requirements pag e cancel ko yung moneyLife 8.. thank you
    Apr 05, 2018, 12:24 PM
  • PwedePadala: Is there a moderator on the site? Sana merong magmonitor ng mga unrelated topic.
    Mar 30, 2018, 06:38 AM
  • bestinpalawan: hi ^_^
    Mar 28, 2018, 04:36 PM
  • Edong35: Hello there!
    Mar 25, 2018, 06:27 PM
  • pahuway: hi po, newbie here :)
    Mar 22, 2018, 05:41 PM
  • Mila: Hi everyone...
    Mar 19, 2018, 04:31 PM
  • Gallego02: hello newbie here
    Mar 16, 2018, 02:56 PM
  • Mila: Hi Diosa57...call this number for personal and comprehensive advice...09267511660....expert po sya sa ganyang usapin...
    Mar 10, 2018, 09:06 PM
  • Mila: hi Diosa57, you need to talk to someone in authority regarding that matter...call this number if you like 09267511660  for some pieces of advice...
    Mar 10, 2018, 09:00 PM
  • Niel Jhacoubs: @PINKA Kung meron ka daw philhealth la ka na daw babayaran except sa mga medicines na bibilhin.
    Mar 02, 2018, 01:32 PM
  • Diosa57: Hello po, paano po ibenta ang property ng makapatid kung patay na yung isa at sa US namatay ?  Need advice , thank you !
    Mar 01, 2018, 07:58 PM
  • pinka: Prob ko nakaloa ako no pay so wala ako pambayad ng registration
    Feb 28, 2018, 07:56 PM
  • pinka: I need pede maloanan. May car ako but hindi nareg this yr pede ko sana magamit for loan pede nid daw updated ORCR
    Feb 28, 2018, 07:56 PM
  • pinka: @niel meron po pero kulang
    Feb 28, 2018, 07:52 PM
  • natz: who wants to convert your php here to china rmb no charge text me 09052915515
    Feb 28, 2018, 07:03 PM
  • Niel Jhacoubs: @PINKA La kabang philhealth?
    Feb 28, 2018, 11:50 AM
  • pinka: Hello new lang ako dito ko po sana mauutangan employed ako but naaconfine ako ngaun need ko maloanan to pay bills dito sa ospital pandagdag sana . Nakaloa ako eh can any1 help me text 09771065064
    Feb 28, 2018, 01:00 AM
  • nelcequena: Unless paid na din yung utang mo sa credit card. If yes, kahit walang collateral, possible na makaloan ka
    Feb 27, 2018, 11:21 AM
  • nelcequena: I believe not.
    Feb 27, 2018, 11:21 AM
  • cherryl0304: i mean borrow
    Feb 26, 2018, 03:47 PM
  • cherryl0304: ask ko lang po.. possible po ba maka barrow ka ng money from bank with land collateral kahit may utang ka sa credit card before
    Feb 26, 2018, 03:46 PM
  • cherryl0304: hello po testing
    Feb 26, 2018, 03:44 PM
  • centaur_montano: test good morning
    Feb 26, 2018, 06:55 AM
  • mardaf1026: Hi po sa mga Investors, looking for adding more savings?
    Feb 22, 2018, 01:53 AM