Understanding Bitcoin

19 June 2017

Re: Beware of con artists 

You do understand that Bitcoin, and Digital Currency as a whole, is not a scam, or a get rich quick scheme. It is no different than investing in the stock market, you win some trades and you lose some trades. 

If you want stability, you buy as a long-term investment and come back in a few years (digital currency applies block chain technology, and each currency offers something different than the next. For example, Ripple is about to change the way in which banks send money around the world. 

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Payments will be instant and will cost banks far less). Ethereum is a currency that enables smart contracts and Dapps (decentralized applications). Bitcoin is a store of value (like gold, but digital). 

The only advise I would offer the people of Samoa is this; you do not need to pay a third party in order to invest in digital currency. 

You can sign up at coinbase, or a dozen other web sites, and buy digital currencies instantly, without paying someone else to buy on your behalf, just like having an Etrade account and buying stock in Amazon.

Never pay another person to do this for you. Educate yourself regarding the top 100 digital currencies, and invest based on the information you learn. Some of these currencies offer technology so innovating, that it is being compared to the invention of the internet (Ethereum, Ripple, Litecoin, Golem, etc.).

 

Brett 

19 June 2017

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