Banking on bitcoin opiniones
How to make money with bitcoin
Following the article written by the former president of the Central Bank of Chile, José De Gregorio and quoted by El Mostrador, the discussion would not be complete without a rebuttal from those of us who adhere to Bitcoin and the technological revolution of money. Without wishing to polemicize, but rather seeking to contribute to the discussion, I would like to clarify some points in the aforementioned article that are objectionable.
On the other hand, Bitcoin, unlike central bank fiat money, is extremely stable in its «monetary policy» with a known expansion rule and a maximum supply limit of 21 million units. Every ten minutes a new block is added to the chain-with new transactions-and the miner is rewarded with bitcoin for that block. This occurs according to an immutable and extremely constant code. The volatility of its monetary issuance is non-existent.
The second point mentions the medium of exchange. However, in a play on words, De Gregorio ties it to the previous point and eliminates (artificially) its function as a means of payment on the basis of its bad unit of accounts. But, the reality is that Bitcoin is used around the world to buy and sell all kinds of goods and services. This is an internet-native money, making it very easy to use in the digital world and it can serve our hyper-digitized life much better than the current model.
How to invest in bitcoin in mexico
The bitcoin is a digital currency created in 2009, and it could be said that it is the architect of the popular fashion of digital currencies. Unlike traditional money, which is backed by the government that prints it and dictates its value, bitcoin is independent and there is no one to back it, meaning that its value – or the purchases it can be used for – is largely determined by its users. That means that bitcoin can be worth anything from a few euros to 20,000, as it was in December 2017.
But what can be done with bitcoin? Well, at first, when it was created, not too much. However, as time goes by, more and more companies and individuals are accepting bitcoin as a legitimate method of payment for their services. It is perfectly possible to buy a computer, book a flight and even order a pizza with bitcoins alone.
I’m afraid not. While the Bitcoin protocol camouflages personal information, it does not hide the user’s wallet address. This means that the user is not «anonymous», but «pseudo-anonymous», and that someone could, in theory, through hints and clues, trace your personal information.
When to invest in bitcoin
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When to buy bitcoin
Some banking executives, such as Matthew McDermott of Goldman Sachs, have expressed a certain level of enthusiasm regarding the emergence of bitcoin and crypto as a viable asset class. In a recent interview, he stated:
Bitcoin is now considered an investable asset. It has its own idiosyncratic risk, in part because it’s still relatively new and going through an adoption phase … [It] doesn’t behave as one would intuitively expect relative to other assets given the analogy to digital gold, but clients and beyond are largely treating it as a new asset class, which is remarkable. It is not often that we get to witness the emergence of a new asset class.
Others, however, are concerned about bitcoin’s volatility and price fluctuations, and are trying to dissuade their clients from considering it as they would stocks or gold. Noel Quinn, CEO of HSBC, for example, discussed his concerns regarding bitcoin in a recent interview and explained: