Although I have not gone into the deep end of speculating Crypto-Curencies as yet, I have made a 'test' deposit on the most famous web-trading software platform in the world - eToro.
I chose to deposit 50 Euros, and bought my BTC shares - in a nutshell I had absolutely no idea what strategy to have in place in order to make money from my investment. Still quite a few unanswered questions like when do I pull out? What is the 'secret' pattern?
There are professionals who actually make a living by trading in currencies and riding the ups and downs like the crest of a wave, entering at the lowest point of value and pulling out at the highest points.
For me, it was simply speculation in its most basic form - investing some BTC units in hope that the currency will rise in value, at which point I pull out....however no one knows....when!? Or do they??
In basic terms, BTC is a crypto currency. The system works by creating a specific address/password for your online wallet that is accessible only to you. When you transact with friends, trade in business for a service or a product, you create a special address or password online. This is called the BLOCKCHAIN.
This is quite an intelligent system and many news channels and tabloids have clearly been lobbied to exaggerate or misinform the general public into thinking that the BITCOIN BUBBLE has burst long ago....
Like Christopher Hitchens would write, I would rather sail contrarian to that belief.
The entity that is Satoshi Nakamoto (no one knows if its one man or 10 men or perhaps a woman, tweet)
Satoshi is the designer of Bitcoin. The cryptography was created in a way to record every single transaction from the very beginning. All this information of every single transaction is constantly sent to the users pc, smarthpone, tablet, and very soon BTC ATM. Every new transaction needs the whole transaction history to be 'run' or tested to go through. This avoids 'double spending' and the pure genius of it all is that users aware of BTC existence can actually join this community TODAY and download 'mining programs'!
Mining programs help calculate the complex algorithms to process transaction swiftly and efficiently in exchange for Bitcoin.
Girls and Boys, jump right in and fasten your seat belts. We are in for an interesting ride......
Kenneth P. Zammit
Managing Director
Homes & Co. Malta
www.homesandcomalta.com
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