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Cryptocurrency – Updates & Insight for ALL
Hello & Good Morning Everyone!
I wanted to create this new topic based on the recent crypto increases this week –
I am looking forward to hearing all your thoughts on what coins/token you have in your trusted portfolio & what you expect for 2024.
coindesk.com
Bitcoin Could Hit $69K by Mid-2024 as It Enters Acceleration Phase, Analyst Says
BTC prices have doubled this year amid a spot ETF push by prominent traditional finance firms.
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3 Replies
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Bitcoin is not based on anything. I think Bitcoin will go to zero. If I were a batting man, silver will go to 1,000 dollar per ounce.
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Bitcoin is not a buy according to Peter Schiff. Peter Schiff makes all the sense in the world.
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Cryptocurrency is a digital or virtual currency that uses cryptography for security. It is decentralized, meaning it is not controlled by any government, central authority, or financial institution.
The key characteristics of cryptocurrency include:
- Decentralization: Cryptocurrencies operate on a decentralized network, known as a blockchain, that is maintained by a distributed network of computers (nodes) rather than a central authority.
- Cryptography: Cryptocurrencies use cryptographic techniques, such as blockchain and digital signatures, to secure and verify transactions, as well as to control the creation of new units.
- Transparency: Cryptocurrency transactions are recorded on a public distributed ledger called a blockchain, which provides transparency and allows anyone to verify and audit the transactions.
- Anonymity: Cryptocurrencies can offer a degree of anonymity, as users can transact without providing personal information, although the level of anonymity varies across different cryptocurrencies.
- Scarcity: Cryptocurrencies often have a limited or predetermined supply, which is controlled by the underlying algorithm. This scarcity is designed to mimic the scarcity of physical assets, such as gold.
Some of the most well-known cryptocurrencies include Bitcoin, Ethereum, Litecoin, and Ripple. Cryptocurrencies have gained popularity due to their potential benefits, such as lower transaction fees, faster cross-border payments, and reduced interference from governments and financial institutions.
However, cryptocurrencies also face challenges, including high volatility, regulatory uncertainty, and the potential for illicit activities, such as money laundering and fraud. As a relatively new and evolving technology, the future of cryptocurrencies is still uncertain.