Why Bitcoin can be traded (why Bitcoin trading needs to be done face-to-face)
Why Bitcoin can be traded Editor’s note: This article is based on authorized reprints from the Daily Planet The trading function of Bitcoin was further developed and popularized in 2018. Between the end of 2017 and the beginning of 2018, Bitcoin has grown significantly, and now more than 500 million users have used Cryptocurrency. But as more and more institutions adopt and intersections between mainstream asset classes emerge, this situation is changing. Although many people believe that Bitcoin is “digital gold,” it is still considered an investment product and favored by investors. The statement ‘why Bitcoin can be traded’ is not surprising. In fact, because people are not familiar with these concepts or terms, they overlook some basic facts, such as that they are not created by any single entity, but are generated through computer programs – for example, when you open a page using an app store on your phone, there are many things inside that can be purchased, sold, or exchanged for Bitcoin, and so on. (Note: If someone is willing to accept Bitcoin as a payment method, they will receive a piece of paper that reads: “I sold my Bitcoin to another buyer.” The value of Bitcoin has been increasing since its inception, ranging from only 21 million to $200 million now. The price of Bitcoin has increased by about 20%, indicating a surge in market demand for Bitcoin, and this number is continuing to rise. So what exactly is Bitcoin? When we talk about Bitcoin, the question of “Is it a medium that can be used to pay for goods and services?” arises. Bitcoin is an inseparable thing, and its Scarcity makes it a unique item. Although it is a kind of commodity with Scarcity, like other properties, it also has some limitations. To address the main obstacles mentioned above, it is necessary to determine which assets can be used as collateral for loans, in order to ensure the safety of Bitcoin. In addition, certain conditions must also be considered, such as the government’s ban on anonymous token issuance; There are also factors related to network security. For example, the Internal Revenue Service Administrator wants to submit this data to the IRS. According to the Federal Deposit Insurance Company Act, holders of Bitcoin do not face fines, taxes, or other legal liabilities. Therefore, even without a bank account, Bitcoin can be easily stored. Why can Bitcoin be traded? Because the supply of Bitcoin is determined by the supply-demand relationship. Therefore, everyone can participate in the network, so miners do not need to spend money to maintain their systems, they only care about how the resources they have are allocated. The supply of Bitcoin is halved every 10 minutes until the block rewards are halved before reaching the target
Why do Bitcoin transactions require face-to-face trading
According to the Bitcoin exchange guide, Bitcoin transactions require face-to-face trading. Why use face-to-face trading? Because it is very difficult to conduct transactions without third-party assistance; And if both parties want to reach an agreement, they must solve the problem through a phone call, which is usually used privately. So many people say that this method is not suitable for ordinary investors and corporate clients. For those who cannot understand or do not know these people, they know that this is an impossible task – that is, those who have purchased Bitcoin in person.
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