Bitcoin and it story
By Umar Ahmed
@Mrgana1 (338)
Nigeria
October 4, 2017 1:27pm CST
Bitcoin is the most famous coin amongst other coins used for online transactions, some countries have accepted to use of this currency for their local and foreign transactions. Recently I read online that China and Korean has banned the use of this currency in their country. What your opinion about bitcoin as a whole?
1 person likes this
2 responses
@zainkhan121 (859)
• Pakistan
4 Oct 17
With each day passing, it’s becoming hard to mine bitcoins, which means more people buying more powerful GPUs and once your machine or GPU is unable to mine bitcoins, you have no other option but to upgrade or buy new machines and GPU if you want to start mining again… so there is the first disadvantage… 2ndly the transactions cannot be monitored, so this currency can be used for illegal activities, 3rdly, the currency is not backed by any real life commodity/goods, it’s just a string of a huge line created by a computer…. I don’t know why someone would buy it for 4200 USD (current rate). And, I suggest you create quality posts, Bhaiya! :D :D
1 person likes this
@Mrgana1 (338)
• Nigeria
4 Oct 17
Thanks for your update about bitcoin and it challenges. However can you tell me the things that are missing in this post that makes you feel the quality needs modification. Thanks
@laisbonita (183)
• Philippines
9 Oct 17
for as long it can convert to its currency value, its a money matter with also they associate to investment
bitcoin is unbelievably come in to its glory to gain more. at the value of 1bit coin = 4K US dollar that is wow! so if you want to create some wallet and make an account
@AkoPinay (11542)
• Philippines
5 Oct 17
Bitcoin as a whole? Hmmm all I know is I love Bitcoin because it is CHEAPER & FASTER than PayPal and other payment methods.
Many people always link Bitcoin to illegal activities or terrorism and I cannot understand that! LOL!
I use Bitcoin as an alternative to PayPal and as an online payment processor our Bitcoin Wallet provider is more strict than PayPal. We CANNOT cash out or exchange Bitcoin to Peso (our local currency) if we do not complete SELFIE-VERIFICATION and the amount we could cash in/out is LIMITED. How could we use it for illegal activities in the Philippines? I use it the same way we use USD/PayPal.
Any form of money can be used for good or bad.
