Bitcoin & Cryptocurrencies Facts and Insights

Why the world is turning onto cryptocurrency.

Bitcoin and Cryptocurrency explained


Facts About Bitcoin & Cryptocurrencies You Want To Know - 2018

 

In the past, there are a number of paradigm shifting inventions and innovations.  The written word, the wheel, the bow and arrow, currency, computers an so on.  Cryptocurrency is in this game changing category.  While Bitcoin and company are not quite as innovative as the first currency, cryptocurrencies are novel global phenomena where there is no central authority that creates or manages any aspect of these currencies.  Rather, it is a collective or thousands or even millions of users that equally "control" every aspect: buying, selling, transactions, and user accounts.

 

Cryptocurrencies have the the advantage of transferring cash in any quantity, in private, securely and at near light speed.  In practice, crypto currencies have limitations, transfers can take a couple of yours sometimes. Though Bitcoin, Ethereum and some others have never been hacked per se, naive people have been conned out of their security key in a variety of ways.

 

Right now cryptocurrency is in the wild west phase, with dramatic unprecedented rises and falls in value.  Bitcoin for example, experienced steady growth, with explosive increases that made thousands of crypto-nerds rich overnight.  Recently at the end of 2017, Bitcoin almost hit the $20,000 dollar mark. only to crash to under $7,000 in early 2018.

 

Normally in the securities industry, something that falls that hard does not recover.  But Bitcoin did, and it's now stabilized at the 8 to 9 thousand dollar range. While the internet is full of cryptocurrency experts, few of them have any proven long term track record.  Most of the smart guys we follow, don't profess to know the intimate details about what will happen and when.

With that said, there are some undeniable trends and facts about cryptocurrency that are impossible and important not to ignore.


 

Cryptocurrencies are here to stay

What are the best crypto-currencies to use for cannabis purchase and business?

CRYPTOCURRENCIES USED IN THE WEED INDUSTRY TODAY

 

Cryptocurrencies like Bitcoin, Bitcoin and others gained popularity because they have many superior properties as compared to traditional fiat currencies.  The first users of bitcoin were some very smart hackers intertwined with a bunch of risk takers who did not necessarily understand what they were getting into.  No matter, whether you bet the horse out of logic or whim, the ticket pays the same.

 

Cryptocurrencies theoretically offer no tendency to inflate, the money supply is not controlled by a manipulative power group, they offer privacy and independence from governments and banks, there can be ID requirements to open an account or wallet (as digital storage methods are called), transaction fees are normally zero, monthly charges to maintain an account are zero, and you can spend a fraction of a cent on say, a video from an independent content creator.
 

 

Bitcoins are not stored on your computer

 

"Bitcoins are not actually received by the software on your computer, they are appended to a public ledger that is shared between all the devices on the network. If you are sending bitcoins when your wallet client program is not running and you later launch it, it will download blocks and catch up with any transactions it did not already know about, and the bitcoins will eventually appear as if they were just received in real time. Your wallet is only needed when you wish to spend bitcoins. " - Bitcoin.com


 


Digital currencies are volatile
 

As of 2018, this is an obvious characteristic of nearly all cryptocurrencies.   Recently, a lot of people lost their shirt. These people were the last ones in, however, and perhaps deserve their fate.  Gamblers and free riders saw the Bitcoin phenomena as a get rich scheme and dropped tens of thousands or more on a gamble. It would seem justice was well served as with cryptocurrencies, the smart and worthy tended to cash in, and the free riders crashed and burned (hooray).

 

Buy Weed with Bitcoin

BITCOIN MAKES MARIJUANA BUSINESS EASY

These speculators drove the "value" up well beyond what the real market could support.  A few hundred thousand gamblers crashed and burned across the globe when their credit card payments become due and forced a massive amount of Bitcoin (and others) back onto the market.  Meanwhile, the longstanding Bitcoin holders took their chance to cash out and buy a house, a yacht or maybe fetch a gaggle of concubines.

 

Predicting the future is difficult, but there are some huge forces of nature to consider here, which will surely play a pivotal role in the future of not only cryptocurrency, but all currencies globally.

The powers that be, a syndicate of the military industrial complex, oil. big pharma, that control more than 90% will have much to say in the future of cryptocurrency.  

 

While you need a very high pay grade in the secret service to know exactly what these planet controlling entities are up to, you do know that they will be aiming to take over the cryptocurrency business.  That means that after the innovators have finished doing their creative thing, the elites will make their moves in tactical fashion, to regulate, control and standardize cryptocurrencies.

 

A guess from here is that cryptocurrency will move to global regulation within the next 5 years.    What exactly happens with each and every cryptocurrency remains to be seen. On the contrary, how the dark web develop is a critical factor to the cryptocurrency end game.   In other words, independent cryptocurrencies will never totally fall under elite control with a truly free internet, and the dark and deep web is truly a free thing.


 

Cryptocurrencies aren't backed up with tangible assets.

 

Cryptocurrencies are not backed by anything typically, however, into the future there is no reason why they can't be attached to tangible things like oil, gold, coal, or even a promise to pay.  With that said, gold, while it is a useful industrial metal, its value is mostly assigned by the market, and in this case, it's really not "backed up" with anything. Basically, it has been proven beyond a doubt with the rise of Bitcoin, that cryptocurrencies don't need to be backed up with anything, except the belief in the integrity of the currency and it's illustrated benefits and functionality, can buy most anything, retains value, can be safely stored, not subject to manipulation by elites, etc.

 

They say that fiat currencies like the US dollar, Euro, Yuan aren't backed with anything, but that is not true.  The fiat currency is based on a promise to pay, but debt holders, for fiat currency is actually created at the time money is loaned.  Also the creation of fiat currency is associated with a loan item, like a car or house, which in turn backs the currency. Also the US dollar is backed by the US military who strongarms the use of the Federal Reserve dollar, best illustrated by the policy that oil must be sold in US dollars.  

 

Countries that don't play ball with international monetary policy are dealt with severely, whether it be military and or economic destruction.  The socalled Federal reserve is a privately held bank which pays lip service to the US government, allowing their representative to act as a rubber stamping CEO, no more or no less.   On top of all of these ins and outs, fiat currencies are manipulated and inflate as policy and scam, where the population loses a few percentages of its wealth, per year, cumulatively, and over the long run, this debt - slave system allows for the elites to do what they do, own everything and control the planet.

 


There are a couple of thousand cryptocurrencies and counting

 

While there is no doubt that cryptocurrencies will be part of most people's portfolios in the next ten years, which cryptocurrencies that come and go into and out of favor, remains to be seen.  Will Bitcoin stay on top, will another currency emerge, will the powers that be back one currency over another, will a new type of crypto currency dominate, or will many cryptocurrencies play a significant role.  We don't hazard a guess here, but we believe strongly that you should keep the above factors in mind. Right now Bitcoin accounts for more than 50% of the cryptocurrency market cap, however, we fathom the prediction that this lofty market share will drop significantly in the coming years.

 


Blockchain Technology gives Cryptocurrency integrity, value


Blockchain technology resides on the internet, a network of thousands to millions of computers that keep the records, create more currency, complete transactions, and cross check one another with computer programs (algorithms) that are pretty much unhackable.  This technology was first adopted in Bitcoin, and after several years of proof in action, the market saw that the blockchain technology was solid, and allowed for the attributes of a superior currency.

 

There are a few neat tricks you need to learn - Here they are

HOW TO BUY WEED ONLINE - ANONYMOUSLY

 

Miners are a Key

 

Anyone can mine a cryptocurrency by hooking up to the internet and running a mining program on their computer.  These days, people use special high speed computer boards to perform these calculations more efficiently (and profitably). When a miner runs the program to mine for a cryptocurrency (bits of coin are given out like gambling with a certain probability of winning).  While the miners computer is "digging" it also serves as a calculating node for transactions on the global Bitcoin network. People that lend their computers to the network, like miners, may receive a fee for work done by the Bitcoin community - i.e. transactions.

 

Since the network needs miners in a large part to exist, the system.automatically makes mining more profitable it the number of miners falls, and less profitable if too many people get into the act.  Mining is not free, because the computer equipment costs money and so does the power.

Mining Bitcoin for example, ceases for people costs exceed revenues, just like mining for gold or silver, hence the term mining.



 

Cryptocurrencies are Decentralized

 

Decentralization provided by cryptocurrencies has attracted major financial players.   The Chinese, for example, don't like their transactions to be out in the open and running transactions through a central bank means that the powers that be know every step you are making, who your partners, the size and nature of your sales.  And the powers that be have no respect whatsoever for your privacy, as evident by revelations about every major financial institution: google, facebook, microsoft, all of them.

 

This also means that there is no single point of failure because information is redundantly stored in places that can't be hacked simultaneously.  This means that criminals, government hacks, rogue intelligence agencies or anyone else cannot gain control of either the network or your account.


Instead an individual server, or group of servers, storage and transaction facilities is spread across the globe. Each computer contains bits of information about the blockchain network, but only a piece.  It takes many computer's data pieces to put together any transaction. Each computer in the blockchain is encrypted, and the next transaction will use entirely different computers all across the globe. This is the main reason why cryptocurrencies have taken off  


There are no business hours - no weekends - no holidays.

 

Since there are millions of computers available 24/7 globally to verify and complete blockchain transactions and functions, this means you can buy whatever from a Bitcoin vender at 4 am Christmas morning.


 

Service Fees are your friend

 

Paying a small transaction fee can be a good idea because Bitcoin and some others cryptos use the money to reward miners for helping process the transaction.  However, cryptocurrencies that allow for the fastest, safe with the lowest fees will be the ones that we'd definitely invest in.

 

Bitcoin transactions can be processed without fees, but free transactions can require waiting days or weeks. Although fees may increase over time, normal fees currently only cost a tiny amount.   Transaction fees offer protection against users sending transactions to overload the network and as a way to pay miners for their work helping to secure the network. If account activity follows a pattern of unconventional transactions, users may have unusually high transaction fees (takes more computer power to verify).

 

Buy anything , including weed with cryptocurrency.

CRYPTOCURRENCY - THE FUTURE IS NOW


Blockchain Issues

 

Some major cryptocurrencies have unexpected outages and slowdowns in services. Service fees may ceap into play, make sure they are low by keeping an eye on the fees and researching solutions on the net.  Major retailers are slow to get on board. Some countries have outlawed cryptocurrencies, which could lead to issues for people on holiday in a foreign country. Governments are active and successful in tracing down large Bitcoin (and other cryptos) transactions to collect income tax. Did you know that 99% of people have not yet used Bitcoin?


 

"In 2017, Coinbase surrendered its database of 14,300 users who invested an excess of $20,000 between the years of 2013 and 2015 with 6% of users reporting their gains to the IRS."

 


 

Blockchain is on the Who's Who radar

 

Major vendors are testing cryptocurrency now.  Bill Gates and many other billionaires think that cryptocurrency is the way of the future.  200 odd organizations signed up to the Ethereum Alliance to test the Ethereum blockchain Microsoft and MasterCard have joined this initiative


 

MMJDOCTORONLINE supplies 100% online licensed medical doctor's recommendations and Cannabis in minutes for new and past medical cannabis patients.  The process takes only a few minutes to complete and your e-recommendation can be delivered for your inbox, often within the hour. Patients only pay if they have been approved.  Documents are used at dispensaries, cannabis clubs, cooperatives, online delivery services and other licensed suppliers of cannabis and concentrates within California and Nevada



 

FURTHER READING


 

BITCOIN - FAQ  - VERY VERY GOOD INFO
 

General
What is Bitcoin?
Who created Bitcoin?
Who controls the Bitcoin network?
How does Bitcoin work?
Is Bitcoin really used by people?
How does one acquire bitcoins?
How difficult is it to make a Bitcoin payment?
What are the advantages of Bitcoin?
What are the disadvantages of Bitcoin?
Why do people trust Bitcoin?
Can I make money with Bitcoin?
Is Bitcoin fully virtual and immaterial?
Is Bitcoin anonymous?
What happens when bitcoins are lost?
Can Bitcoin scale to become a major payment network?

 

Labels: BITCOIN LITECOIN CRYPTOCURRENCY

Interesting Posts