Bitcoin pros and cons

Bitcoin is a digital currency that has been around for over a decade now. It was created in 2009 by an anonymous individual or group of individuals known as Satoshi Nakamoto. The concept of Bitcoin was to create a decentralized, peer-to-peer payment system that would allow for transactions to be conducted without the need for a central authority or intermediary, such as a bank.

Bitcoin is based on blockchain technology, which is a decentralized ledger system that records and verifies all transactions on a network. This means that each transaction is recorded and verified by multiple nodes on the network, making it virtually impossible for anyone to manipulate or falsify the transaction history.

One of the main advantages of using Bitcoin is its anonymity. Unlike traditional payment methods, which require users to provide personal information, Bitcoin transactions can be conducted without revealing one’s identity. This has made Bitcoin a popular choice among those who value their privacy, such as individuals living in countries with strict financial regulations or those involved in illegal activities.

Another advantage of Bitcoin is its low transaction fees. Because there is no need for a central authority or intermediary to process transactions, users can conduct transactions with minimal fees. This makes it a cost-effective option for conducting small transactions, such as paying for a cup of coffee.

In addition to its anonymity and low transaction fees, Bitcoin also offers users the ability to hold and transfer value without the need for a third party. This means that users can store and transfer their bitcoins without having to go through a bank or other financial institution. This allows for greater financial freedom and control over one’s assets.

Despite its many advantages, there are also some drawbacks to using Bitcoin. One of the main concerns is its volatility. Because the price of Bitcoin is determined by supply and demand, it can fluctuate greatly in a short amount of time. This means that users who hold large amounts of Bitcoin could potentially lose a significant amount of money if the price drops.

Another concern is the potential for hacks and security breaches. Because Bitcoin is a digital currency, it is vulnerable to cyber attacks. In the past, there have been instances where large amounts of Bitcoin have been stolen from exchanges and other online wallets. This has raised concerns about the safety and security of using Bitcoin.

Despite these concerns, many people continue to use and invest in Bitcoin. In recent years, the popularity of Bitcoin has increased significantly, with more and more people turning to it as a way to conduct transactions and store value. This has also led to the rise of other cryptocurrencies, such as Ethereum and Litecoin, which offer similar benefits to Bitcoin but with their own unique features.

Overall, Bitcoin has proven to be a revolutionary concept that has the potential to change the way we think about money and financial transactions. While there are still some concerns about its volatility and security, the benefits of using Bitcoin, such as anonymity and low transaction fees, make it a compelling option for those looking for a more decentralized and secure way to conduct transactions.

Bitcoin ETF from Cboe Will Not Be Approved, Says Licensed Digital Asset Investment Firm

Whitepaper Research

By Greg Adams from Blokt.com

Bryan Courchesne, the managing director of Digital Asset Investment Management, spoke with [blokt] about the Cboe Bitcoin ETF. Courchesne thinks that the SEC will not approve the ETF due to their concerns over manipulation in the underlying Bitcoin market.

The Cboe Bitcoin ETF filing, of which the SEC recently postponed a decision on approval, has been a key talking point in the Bitcoin and cryptocurrency communities since Cboe filed its application in June. The current deadline for approval by the SEC is September 30, 2018, which can be further extended to February next year, by which point the filing must be approved or denied.

ETF Talk

Many Bitcoin investors and traders appear to believe that the SEC’s decision on this ETF could make or break Bitcoin, at least in the short-term. A common narrative is that an ETF approval would lead to a trend reversal for Bitcoin, sending it back into a bull market like the one seen in the second half of 2017. Another belief is that the denial of the ETF will lead to further drops and yearly lows for Bitcoin, with a long road to recovery ahead.

[blokt] spoke with Bryan Courchesne, the managing director of Digital Asset Investment Management, who helped to shed some light on Cboe’s ETF and provide some realistic expectations of the outcome. Digital Asset Investment Management is a registered investment adviser for digital assets. The first of its kind, DAIM is properly licensed to advise and manage digital assets in accordance to the highest standards, with the capabilities of placing digital assets into brokerage and retirement accounts. We’ve outlined the highlights of our discussion with Courchesne below.

The Cboe ETF Would Be Out of Reach for Most Retail Investors
Cboe’s proposal indicates an ETF of which each share is made up of 25 BTC with an assumed price of $8000 per BTC. This puts the total cost per share at $200,000. The ETF will only be purchasable in whole units, making this $200k price far out of reach of the majority of retail investors.

Read the rest of this article at Blokt!

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