Bitcoin

[shadow]

So it's all in the air? Paano ko mahahawakan yan pera?

Kung walang Central Authority mag bantay eh di It's all based on trust?


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[uls]

So it's all in the air? Paano ko mahahawakan yan pera?

Kung walang Central Authority mag bantay eh di It's all based on trust?


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yes bitcoin exists only in cyberspace

bitcoin was created precisely coz of distrust towards central authority

governments can freeze bank accounts

governments can limit how much money you can move out of the country

central banks can devalue currencies

since no single authority has control of bitcoin, it is out of reach of governments and central banks

[uls]

since many computers around the world verify bitcoin transactions, the problem with bitcoin transactions is that it takes time

and there's transaction cost

that's why it's not really viable as a currency

so far it's a store of value

like gold

[uls]

what makes bitcoin a great idea isn't really bitcoin itself but the tech underlying it

the distributed ledger, the blockchain

if let's say blockchain is applied to land titles, nobody can fake land titles

[shadow]

since many computers around the world verify bitcoin transactions, the problem with bitcoin transactions is that it takes time

and there's transaction cost

that's why it's not really viable as a currency

so far it's a store of value

like gold

So saan naka leverage ang value niya? Precious metals you know value is there and if you get your hands on them you can sell it anywhere since it's tangible. Eh bitcoin paano?

Saka kung walang Central Authority saan napupunta yun pera na binili mo ng bitcoin?

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[shadow]

yes bitcoin exists only in cyberspace

bitcoin was created precisely coz of distrust towards central authority

governments can freeze bank accounts

governments can limit how much money you can move out of the country

central banks can devalue currencies

since no single authority has control of bitcoin, it is out of reach of governments and central banks

Hinde ko pa rin maintindihan paano ko ma-monetized yan? Who will buy it from me? Para naman nagbebenta at bumibili ako ng hangin? I've read about it few years back Pero hinde ko talaga maintindihan.




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