do you know any broker that let you trade BTC?
Not sure as none of my forex brokers are currently offering BTC to be traded on their platform, maybe they will add this in future. You can check on google for your desire results however i usually trade bitcoins against other crypto-currencies and USD using bittrex and btc-e.
I donât think a world currency is coming, anytime soon.
And even if it is, it wonât be bitcoins.
If anything there will be more cryptocurrencies, not less. I mean, even now Russia is preparing to ban bitcoin and all other cryptocurrencies and create its own, which will be, no surprise there, heavily controlled by the state. We are all too different, too disparate to create a world currency anytime soon.
I think that one of the most essential factors that people need to remember when discussing bitcoins potential to be the currency of the future is that bitcoin is not just a currency. Bitcoin is much more than a simple online currency. Bitcoin is the payment protocol of the internet. What I mean by this is as followed. Everyone has a debit or credit card in the developed world, this technology is around 70 years old. The internet and more specifically online shopping is about 10 years old. Now when you spend online using a credit or debit card, you are exchanging multiple pieces of sensitive data with more than one intermediary. What this means is that you are willingly putting yourself at risk of credit/debit card fraud. The same way the merchant receiving your funds is also subject to a chargeback every 1 in a 100 transactions as a result of this fraud. Meaning that for merchants and customers alike who are utilising this outdated technology are at a potential risk of losing money. Now if merchants and customers were using bitcoin this would not happen. No information is exchanged, all transactions are registered on the blockchain and chargebacks are not an issue. Now what this means is that by utilising bitcoin as the payment protocol of the internet you are removing the risks associated with the outdated technology that is credit and debit cards. Bitcoin is much much more than a currency and when people take the time to dive into the use cases for bitcoin besides gifting value in a peer to peer transactions, you will truly see the value of bitcoin and just how revolutionary it is. Once a person is enlightened to this, the decision about whether or not to be involved is a resounding yes.
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Bitcoin is still banned in many countries i guess however it is still traded and is highly volatile market, i noticed that the price eventually went up in the last one week or two, let see what will happens to its value when it reaches to its halving in July 2016.
Bitcoin is only banned in Iceland, Ecuador, Bolivia, Kyrgystan and Vietnam. All of these countries make up just 4.25% of the worlds GDP which is a very small amount. It is also worth mentioning that 4 out of 5 of these countries are very much developing economies and therefore the government and banks within these countries need to restrict the use of bitcoin to ensure that they keep the countries financial system denominated in FIAT currencies afloat. Additionally, Iceland (the country not included) already have a very accountable financial system, recently they imprisoned leading banking figures for their role in the 2008 economic crash. Therefore, bitcoin is not as attractive to them at this moment in time.
That being said, all 5 of these countries would benefit from using the bitcoin network on a peer to peer basis and once the confusion and negativity towards bitcoin in stripped away, and people are able to see the true purpose of this great piece of technology, any country that still bans bitcoin use or simply does not use it will be hindering themselves and their financial industry.
IG UK let you trade BTC
Bitcoin is definitely spreading all over the world at a fast pace. With the Brexit drama and the GBP crash many UK citizens surged to change their money into Bitcoin to protect their funds. Now Coinbase, i.e. the largest Bitcoin exchange in the world, has formed a partnership with a large Japanese bank and they intend to fuel an Asian expansion, although thereâs no word whether that means expansion in Japan. I doubt theyâll be last to do that.
How do you think banks feel about Bitcoin? Do they think it is trustworthy. I have heard a lot about the use of Bitcoin for illegal activity. Do you know if they have made any advances in monitoring the activity associated with it?
I agree that bitcoin would become stronger every year. My broker has introduced bitcoin trading and Iâm seriosly thinking about to start trading them.
Itâs not cheap, but may give me great income
Bitcoins are good to trade however they have a lot of volatility risk associated with them and thatâs why only few brokers have started accepted them so try to be very careful while trading with them and stay safe.
Bitcoin is a very interesting and perspective direction in trading and cryptcurrencies, but many analysts are prone to believing that one day this currency will pop like a soap bubble, since itâs not founded on anything, what do you guys think?
Personally I agree with him. Sheâs kind of popular but not how it is achieved. Today there is no tomorrow and lose everything. Just as the bubble burst.
Even if this happens mush time will passâŚ
People canât accept new things quickly. Letâs look at the history⌠How much time has passed from the moment people stopped buying things for goods and started to buy them with money. Now money (currencies) can be traded too. Whatâs wrong with bitcoin? It will live until internet works. I donât think that it will crash at just one moment. Itâll be a long long looong process
Similarly, while there is the Internet will exist and different currencies such as bitcoin
Bitcoin is awesome! especially for trading as it should have no transaction fees!
I run a business and started accepting bitcoin a while ago. Not many ppl use it of course but its better then credit cards⌠No transaction fees!!! You just have to accept that converting it to cash is not a good option.
I do believe bitcoin still have huge potential in the future and last august was just another opportunity to buy the crypto-currency at lower levels .
In order to own a bitcoin, people have to install first a âbitcoin walletâ app on their phone or computer. This will allow them to participate in the buying and selling activities in the bitcoin exchange.
When a specific user pay for something or get paid with bit coin, their transaction is recorded in a ledger. Computers will confirm the transaction in a process called mining, where they compete by solving extremely complex math equations.
Bitcoins are believed to benefit small business although there are still questions about its credibility as it is vulnerable to hacking.
Bitcoin breaking above 1000$ adds more conviction that more upside is coming ! First Target 1090$ then Second target at 1310$