How to Earn Bitcoin
The trick is to trade your Bitcoin for a real currency that isn’t going to suck.
First, buy or trade in Bitcoin. Then send that money to a bitcoin exchange like Coinbase.
Caring about Bitcoin shouldn’t be complicated. If you can afford to buy and hold Bitcoin, go for it. But if not, buying and trading should be enough.
Doing that quickly and securely is now easy.
The Dogecoin Factor
When looking at the speed of a Bitcoin transaction over the last few months, we can see that this currency is expanding as fast as the Dogecoin network.
Bitcoin transaction times have gotten faster as it has grown.
Dogecoin transactions still take 30 seconds.
In the meantime, Bitcoin's transaction fees have increased, and are a significant part of the reason why Bitcoin transactions take longer.
But despite the speed issues, there are some compelling reasons to believe that Dogecoin will be a more attractive currency than Bitcoin going forward.
Yes, the rise of Dogecoin is a big tease. But if the rest of the Dogecoin ecosystem keeps doing things in the right way, there is no doubt that Dogecoin will be much better than Bitcoin.
The Power Players: They've got the power.
Many people are only looking at technology.
When technology is new, people can start a few companies, and jump into a few stocks, but the rest of the field will still be dominated by big companies.
Sure, some of them may start losing the power fight, but for the most part, the big players in the technology, the big companies, will still be pulling the strings.
Remember that technology is a double-edged sword. The first factor that could lead to the downfall of technology is it starts dominating and people start using technology to limit the effect of that power.
Bitcoin is similar to the phone. No one could have imagined cell phones with their capabilities. But once cell phones reached the mainstream, cell phones started becoming a substitute for the things we did on our phones. The power has never been that big.
But many people want the power of money. That would change the technology.
Even though Bitcoin is becoming much more popular now, power is also being stolen and gained. Big corporations will often go after innovation.
Even Bitcoin. Companies like Goldman Sachs are getting into the act. The trick is to earn enough from those investments that the power is balanced out.
To earn power and win, it’s important to understand the people and make sure they are aligned with your interests. Power players are often driven by money.
You may be able to buy your way into the power structure, but it’s more difficult to win, and it’s often very difficult to find someone willing to sell you enough power to make a difference.
Dogecoin can do that. For the most part, the power players are not hungry for power, but if there is enough money to go around, there is a chance that we might have another currency that matches up.
Several reasons make me feel uncomfortable about Bitcoin.
Bitcoin is not regulated. That means no government authority says if it is safe to buy, sell, or use Bitcoin.
You also need to understand that most money is regulated in some way. That includes some dollars in your wallet. But no currency that is regulated is free from government controls.
Bitcoin is still a relatively new currency and the people using it are new too. This means there are still people out there that don’t understand that using Bitcoin could harm them financially.
That’s why you will probably not see the Dogecoin economy make its mark on the world. You need to remember that many of the people who buy and sell cryptocurrencies are not tech-savvy, and they don’t have a reason to have the knowledge needed to understand the risks.
You also need to remember that some of the Bitcoin transactions might not be tracked by any authority. Even if it is tracked, there is still the possibility of illegal transactions happening. It’s just as easy to buy illegal things with Bitcoin as it is with dollars.
Peter Vessenes, Executive Director of the Bitcoin Foundation, on Bitcoin Legal Status.
There have been stories that show the power of the currency is in the hands of criminals. Some Bitcoin transactions are already illegal in other countries, so it could be a risk for every single transaction.
With Bitcoin, you have the opportunity to buy illegal drugs from the digital marketplace. Bitcoin is often used to buy illegal drugs. That means that every time you buy something, you are taking a risk of someone stealing from you.
In the end, power is still in the hands of the people. You need to understand that and understand the risks.
First, buy or trade in Bitcoin. Then send that money to a bitcoin exchange like Coinbase.
Caring about Bitcoin shouldn’t be complicated. If you can afford to buy and hold Bitcoin, go for it. But if not, buying and trading should be enough.
Doing that quickly and securely is now easy.
The Dogecoin Factor
When looking at the speed of a Bitcoin transaction over the last few months, we can see that this currency is expanding as fast as the Dogecoin network.
Bitcoin transaction times have gotten faster as it has grown.
Dogecoin transactions still take 30 seconds.
In the meantime, Bitcoin's transaction fees have increased, and are a significant part of the reason why Bitcoin transactions take longer.
But despite the speed issues, there are some compelling reasons to believe that Dogecoin will be a more attractive currency than Bitcoin going forward.
Yes, the rise of Dogecoin is a big tease. But if the rest of the Dogecoin ecosystem keeps doing things in the right way, there is no doubt that Dogecoin will be much better than Bitcoin.
The Power Players: They've got the power.
Many people are only looking at technology.
When technology is new, people can start a few companies, and jump into a few stocks, but the rest of the field will still be dominated by big companies.
Sure, some of them may start losing the power fight, but for the most part, the big players in the technology, the big companies, will still be pulling the strings.
Remember that technology is a double-edged sword. The first factor that could lead to the downfall of technology is it starts dominating and people start using technology to limit the effect of that power.
Bitcoin is similar to the phone. No one could have imagined cell phones with their capabilities. But once cell phones reached the mainstream, cell phones started becoming a substitute for the things we did on our phones. The power has never been that big.
But many people want the power of money. That would change the technology.
Even though Bitcoin is becoming much more popular now, power is also being stolen and gained. Big corporations will often go after innovation.
Even Bitcoin. Companies like Goldman Sachs are getting into the act. The trick is to earn enough from those investments that the power is balanced out.
To earn power and win, it’s important to understand the people and make sure they are aligned with your interests. Power players are often driven by money.
You may be able to buy your way into the power structure, but it’s more difficult to win, and it’s often very difficult to find someone willing to sell you enough power to make a difference.
Dogecoin can do that. For the most part, the power players are not hungry for power, but if there is enough money to go around, there is a chance that we might have another currency that matches up.
Concerns
Several reasons make me feel uncomfortable about Bitcoin.
Bitcoin is not regulated. That means no government authority says if it is safe to buy, sell, or use Bitcoin.
You also need to understand that most money is regulated in some way. That includes some dollars in your wallet. But no currency that is regulated is free from government controls.
Bitcoin is still a relatively new currency and the people using it are new too. This means there are still people out there that don’t understand that using Bitcoin could harm them financially.
That’s why you will probably not see the Dogecoin economy make its mark on the world. You need to remember that many of the people who buy and sell cryptocurrencies are not tech-savvy, and they don’t have a reason to have the knowledge needed to understand the risks.
You also need to remember that some of the Bitcoin transactions might not be tracked by any authority. Even if it is tracked, there is still the possibility of illegal transactions happening. It’s just as easy to buy illegal things with Bitcoin as it is with dollars.
Peter Vessenes, Executive Director of the Bitcoin Foundation, on Bitcoin Legal Status.
There have been stories that show the power of the currency is in the hands of criminals. Some Bitcoin transactions are already illegal in other countries, so it could be a risk for every single transaction.
With Bitcoin, you have the opportunity to buy illegal drugs from the digital marketplace. Bitcoin is often used to buy illegal drugs. That means that every time you buy something, you are taking a risk of someone stealing from you.
In the end, power is still in the hands of the people. You need to understand that and understand the risks.
Our Conclusion
If you want to get in on the Bitcoin craze, you should probably wait. It’s just getting too big to ignore. If the power balance of the currency is not evenly distributed, you could see the power that the big players have.
Don’t look at it as a bad thing. This is how the power is often balanced out. The bigger the power gets, the smaller the power gets. That’s the way the power works.
But as the power becomes more dispersed, the power that each of you can wield increases.
Bitcoin Economy Looks to Surpass $1 Trillion
It’s up to you to make sure the power is balanced. Just like you need to be careful with your money. Don’t get too invested in the Bitcoin craze. Know the power players and make sure they are aligned with your interests.
That’s how you can win in the currency game.
What is your opinion on the currency war between Bitcoin and Dogecoin?
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