Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.

Bitcoin is unique in that there are a finite number of them: 21 million.

coins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.

[17] As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.[18].

What is the opposite of Bitcoin?

The opposite of Bitcoin would be a centralized digital currency, with a central bank or single administrator, that cannot be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions would not be verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.

Bitcoin would not be unique in that there are a finite number of them: 21 million.

Coins would not be created as a reward for a process known as mining. They could not be exchanged for other currencies, products, and services.

[17] As of February 2015, over 100,000 merchants and vendors would not accept bitcoin as payment.

Cryptocurrencies are digital or virtual tokens that use cryptography to secure their transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control.

Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services.

Bitcoin is the most well-known cryptocurrency but there are many others including Ethereum, Litecoin, Bitcoin Cash, Ripple, Monero and more. These other cryptocurrencies are often referred to as altcoins.

Each cryptocurrency has its own blockchain, a digital ledger that records all transactions. Bitcoin’s blockchain is the longest and most well-known but other blockchains can be shorter or have different features.

Cryptocurrencies are often traded on decentralized exchanges but can also be purchased with fiat currencies (like USD) on centralized exchanges. decentralized exchanges match buyers and sellers directly while centralized exchanges act as an intermediary between buyers and sellers.

Cryptocurrencies can also be used to purchase goods and services although this is less common than trading or investing in them.

What Cryptocurrency Is Most Like Bitcoin?

While there are many different cryptocurrencies, some are more similar to Bitcoin than others. Ethereum and Litecoin both have faster transaction times than Bitcoin and lower fees. Bitcoin Cash is a fork of Bitcoin with bigger block sizes that allows for faster transactions.

Ripple is a cryptocurrency focused on facilitating international payments for banks and other financial institutions. Monero is a privacy-focused cryptocurrency that offers greater anonymity than Bitcoin.

WHO said Bitcoin was worthless? This is a question that has been asked by many people, both inside and outside of the Bitcoin community. While there are certainly some people who believe that Bitcoin is worthless, there are also many people who believe that it has a lot of value. There is no one definitive answer to this question. Some people believe that Bitcoin is worthless because it is not backed by anything tangible like gold or silver.

Others believe that Bitcoin is valuable because it is a new form of money that is not controlled by any government or financial institution. There are also people who believe that Bitcoin is somewhere in between these two extremes, and its value will ultimately be determined by how useful it is as a currency.

When it comes to Bitcoin, there are plenty of reasons to be both bullish and bearish. On the one hand, Bitcoin has seen incredible growth over the past year, with the price of a single Bitcoin rising from around $1,000 in January 2017 to over $19,000 by December.

This represents an increase of over 1,800% in just 12 months. On the other hand, Bitcoin is a highly volatile asset, and prices can swing wildly from day to day. So is trading Bitcoin profitable?.

The answer to this question depends on a number of factors. First, it depends on your definition of “profitable.

” If you’re simply looking to make a quick buck by buying low and selling high, then yes, trading Bitcoin can be profitable. However, if you’re looking to build a long-term portfolio or retirement account, then the volatility of Bitcoin may not make it the best investment.

Second, it depends on your risk tolerance. If you’re the type of investor who can stomach big swings in the price of an asset, then trading Bitcoin may be for you.

However, if you’re risk-averse, then the volatility of Bitcoin may give you pause.

Third, it depends on your time horizon. If you’re planning on holding a position for just a few hours or days, then the short-term volatility of Bitcoin won’t matter as much.

However, if you’re planning on holding a position for months or years, then the volatility will likely have a bigger impact on your overall profitability.

Fourth and finally, it depends on your investment objectives. If your goal is simply to make some quick money by buying low and selling high, then trading Bitcoin can be profitable.

However, if your goal is to build a long-term portfolio or retirement account, then investing in something more stable like gold or government bonds may be a better option.

So what’s the bottom line? Is trading Bitcoin profitable? It can be if you’re careful and have a solid investment strategy. However, there are also risks involved so be sure to do your research before investing any money.