Good morning fello , I know this not the best place to post this ,but I want it to gain quick recognition reason I hv to post it here ...



Anyone with a good knowledge of bitcon should help so many of us that wish to know out ...


The pros and the con !!! I have tried reading online but no tangible explanation..thanks

Will give a brief on it,

Bitcoin is simply using computing power to solve tough mathematical problems, the reward you get by doing this is called Bitcoin, you do this while being connected to the internet, when many people do this they help ensure that Bitcoin is not controlled by a singular person, everybody who mines (solves those tough math's problems) is a partner/stakeholder to ensure that Bitcoin remains useful and never losses value - a thing called a ledger: a book where all Bitcoin transactions can be traced, hence the only way Bitcoin can lose value is if all those mining and using it lost computing power, how possible is that?


Pro's

You get Bitcoin from just using a device connected to the net and mining.

You could use it to buy things it can only buy, or places where its accepted

It's gaining popularity for global usage with incredible value




Con's

You can be duped of your money from some miners (have been a victim )

Banks hate it bkos it decentralises the use of money, equally transactions can't be traced to individuals, hence its use in the dark web to purchase bad/good things or even used to pay off assassins. Hence government reservation on public use.

You pay through your nose if you can't mine just to get a Bitcoin.

Its lost if the miner dies, over billions of dollars worth of Bitcoin have been lost from miners who are dead, latest statistics.

You can only buy from few genuine sites, the rest are just after duping you!

Yusufisraelj:
Will give a brief on it,

Bitcoin is simply using computing power to solve tough mathematical problems, the reward you get by doing this is called Bitcoin, you do this while being connected to the internet, when many people do this they help ensure that Bitcoin is not controlled by a singular person, everybody who mines (solves those tough math's problems) is a partner/stakeholder to ensure that Bitcoin remains useful and never losses value - a thing called a ledger: a book where all Bitcoin transactions can be traced, hence the only way Bitcoin can lose value is if all those mining and using it lost computing power, how possible is that?


Pro's

You get Bitcoin from just using a device connected to the net and mining.

You could use it to buy things it can only buy, or places where its accepted

It's gaining popularity for global usage with incredible value




Con's

You can be duped of your money from some miners (have been a victim )

Banks hate it bkos it decentralises the use of money, equally transactions can't be traced to individuals, hence its use in the dark web to purchase bad/good things or even used to pay off assassins. Hence government reservation on public use.

You pay through your nose if you can't mine just to get a Bitcoin.

Its lost if the miner dies, over billions of dollars worth of Bitcoin have been lost from miners who are dead, latest statistics.

You can only buy from few genuine sites, the rest are just after duping you!

obviously u dont understand the op question