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What is Bitcoin? What are its advantages? This clip has an answer. Hello, I'm the champion. And this is the I Learn A Lot channel. Channel to bring good news Let's summarize for friends. For today, what will be discussed is. Bitcoin (Bitcoin) By this clip will talk about What is Bitcoin? who created and the advantages of bitcoin that makes it now What is it that has a huge increase in value? Bitcoin was first created in 2009.
The creator is under the pseudonym Satoshi Nakamoto. At present, no one knows who he is. He could be an individual or an organization. So what is Bitcoin? Bitcoin (BTC) is A type of digital currency which is based on the Blockchain system (Blockchian) It is different from the cryptocurrency we use today. For example, the digital money that we use through the applications of various banks. It will not be money running on the Blockchain system (Blockchian). The digital currency that is built on the basis of blockchain. There will be many other surnames. which will call all this Cryptocurrency (Cryptocurrency) For anyone who doesn't understand blockchain. Try clicking on the link above. I have already explained the issue of blockchain. The purpose of which Satoshi Nakamoto created the Bitcoin In order to create a new currency independent of governments and banks. The desire to create work that no one can control itself. Strength number 1, which will be the strength of all blockchain-based currencies.
That is a matter of safety. Blockchain Security As you know, it's almost impossible to get hacked. In the past 10 years, no one has hacked. Bitcoin can If you want to explain why it's so hard to hack, you have to go back and watch my blockchain clip. In the clip, everything is described. The second strength is fast and borderless transfers. no matter where we are in the world We are able to take the world from one account to another. quickly The transfer time takes no more than 10 minutes. Strength 3: Very low fees Previously, the time of transfer was twisted. There will be a transfer fee (transfer by Exchange). at 0.005 BTC Now, 1 BTC is more than a million baht. The price of the fee is higher with the higher BTC price. So now Exchang also has a way to give us. Transfer BTC has been reduced. Before he transfers the Exchang will automatically convert to other coins. Other coins, such as BNB coins, have a lower transfer fee. You will see that the transfer fee is very cheap, only 1 - 2 baht.
No matter how much we transfer money, 1 million and 10 million, the fee will be the same. Even if it's the same way that the fee is as high as 500 baht. Let's say we transfer 1 million baht (1 BTC). We will pay a fee of only 500 baht (in the clip, I said it wrong). But if it is a bank transfer, the fee will be more than that. Because the bank will charge a percentage fee compared to the amount transferred. As a result, the fees are quite a lot higher than Bitcoin. From the 3 strengths I mentioned will see in the matter of financial transactions It's quite convenient. But there are two other strong points that make Bitcoin very special. and the future of the price of Bitcoin (Bitcoin) I believe that it will continue to rise higher and higher.
There may be some abbreviation or reduction. (from the profit sales of the market) But these two strengths of it. It is something that will add value all the time. The limited availability of Bitcoin The twister was designed to be limited. Only 21 million dollars. It is with this finite existence property that it is just like gold. So in the future, there will be a chance to keep going up (Limited, but more demanding). But as for Thong, asked if there was such a limit. The gold we do not know. How limited is it? The number of numbers is still unclear. But there are only 21 million bitcoins.
There is no way to add more. Another highlight is the limited production rate. As with gold, the property is It has a limited production rate. It is quite resource intensive. Spend money, use labor, take time In order to produce gold to be gold, each bar that is sold together. Everything takes time, it's not how much you can produce. The same is true in Bitcoin. $18 million in bitcoins currently mined (misrepresented in the clip) which is now only 3 million dollars left. The remaining $3 million will take over 100 years to mine. to dig up But friends may still be confused about what bitcoin mining is.
It's not that we use a pickaxe to mine bitcoins from the mine. but the system Will reward people who become Peer or Node. to Network Which has to go back to the matter of Blockchain that The Blockchain will be a centralized system. (Decentralize) This system requires Peer Many peers are in the network. Peer is a computer. What is the role of each Peer here? Peer Each Peer is responsible for collecting information.
Responsible for making Proof of work to confirm transactions In which I will explain about Bitcoin Mining again. Because this story is quite a long explanation. It will be in the matter of mining, how to dig, the difficulty of mining. how to dig how is the system which I will now explain again. With the 2 things I mentioned, whether it's a limited amount of 21 million dollars. and the production rate is limited, which is similar to gold As a result, Bitcoin has been compared many times to gold. Which may be the gold version of the Digital Asset or not Let's talk about the practical use of Bitcoin. In Bitcoin, there will be a variety of uses, such as Shopping for everyday things.
Buy coffee. Buy pizza. It has been brought to buy a house, buy a car, which we will see the news all the time. But I feel that Bitcoin is not very suitable for buying things like this. with the fact that it is quite slow Not as convenient as other coins that takes less time like ETH XRP But Bitcoin plays a role in maintaining the value of money (Store of value). Take, for example, in Venezuela when the inflation crisis occurred. His money was quickly depleted. His 1 million baht is almost completely worthless. You can't buy anything at all. Therefore, an asset that can maintain its value will be what makes him survive. Whether it's gold or bitcoin Let's say if I was a millionaire in Venezuela. I have gold weighing 1,000 baht. Then I want to rock gold. No more Venezuela it can't stay The money is too inflated, I'm not anymore. Then I'm going to move abroad and have to carry gold that weighs 1,000 baht. Friends, is it convenient? And Venezuela itself doesn't allow people to carry such gold. So this is how we have Bitcoin. Will make everything easy.
because it's on the internet Or we can put it in the Hardware Wallet to carry anywhere. What is the reason why Bitcoin is so expensive? Start exchanging bitcoins are used among developers. which they have already seen and ignored the benefits of Bitcoin It has been in such a narrow range that it drives prices up to 20,000 USD in 2017. At that time, both developers and speculators were involved in Bitcoin. Until later, the price of Bitcoin has broken down around 4,000 USD. At that time, there will be many groups that see the opportunity. From the time of the pioneering period of Bitcoin Come in the range where the price is already 4000 - 5000, this is the time when people see the opportunity.
that there is a chance that the Bitcoin will be able to soar above 30,000 USD whether from graph analysis Or will it be someone who sees the future of it as the qualities I mentioned above? So the price will begin to rise. Until it arrived during 2019 - present The financial institutions or large companies in many places. Not available for PayPal, MicroStrategy, etc. Started to use Bitcoin as a reserve fund.
You can see that in each era the price is chasing here. From $10 to $20,000 It was a pioneering era where only developers and speculators were on the market. Then the price swings down. And then there are those who saw its benefits, including speculators, once again. It was this group that went to buy. until it creates a new price base Then financial institutions began to come in. (Funds) Big companies But he didn't come in to speculate. But come to buy bitcoins like gold is used as a reserve fund Usually, when they buy Bitcoin, they buy 5-10% of their portfolio (diversity risk). They buy to spread the risk, not to speculate. So this is not for sale. making it the reason that the price is starting to soar as it is limited limited production rate The price has started chasing until now. Until now, the price of Bitcoin is around 30,000 USD. Hit it in Thai currency, it's about 1 million baht.
And with Bitcoin being introduced into the market as a reserve fund. Therefore, the price may continue to go up. Take for example the Market Cap. of gold. Global Gold Market Cap. Now Around 10 Trillion USD The Bitcoin market is still very small. compared to gold The current Bitcoin market cap is 350 billion USD. which, if compared, is still much less And if the big companies and various funds come in In the future, there will be a chance that the bank or the government will have the opportunity to enter. Keep Bitcoin as a reserve fund. If so, it will make the price of Bitcoin go up a lot. But be warned for those who have never entered the world of cryptocurrencies. (Cryptocurrency) or Bitcoin This market is quite volatile. The crypto market is not like the stock market. The stock market when the price moves up and down is too high. There will be an SEC to monitor prices. *The Securities and Exchange Commission (SEC) such as in the case of a heavy down During the kovic Down one day 8% - 10%, there will be a Circuit Breaker (CB).
or the temporary cessation of trading in the market To cool the mood of investors first. In order to brake the mood not to sell too much (Panic Sell) and then to open a new market But there is no Bitcoin. If investors have fear or something. It can go down steadily. which sometimes fluctuate a day in thousands of USD So be careful, control your emotions. If it's the wrong way, you have to Stop Loss. Try to keep the principal. I'm very new and I don't recommend speculating. But for those who can't see the graph I recommend investing in the monthly buy average (DCA). Because in the future I think it's quite a long way to go. and the average monthly investment will make our capital gradually adjust And if at the moment when the price starts to rise, we definitely won't miss the car. Where can we buy Bitcoin from? Currently, we can buy Bitcoin from Exchang. Currently, there are many exchanges that are supported by the SEC.
But personally, I use 2 places which are StangPro and Bitkub. which if friends You can wait. Please press follow. I'll explain Buying and Selling Bitcoin Bitkub exchange subscription Most of which I live on Bitkub. I'm going to share my perspective on Bitcoin trading. In terms of short-term speculation until long-term holding How can we survive in the crypto market? and if friends Loved this video and thought it was helpful. Please press like, press share and press subscribe to my channel.
And anyone who has questions can ask under the comments. I'm happy to answer all questions. For today, we have to say goodbye first. Thank you very much for following until the end. Hello.
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