Hello, CryptoFellows! 🤑
We are starting to post some new topics in our official telegram channel. 💡
And today we are going to tell you about...
Biggest falls and raises of Bitcoin.📈
1️.
November 2011
A sharp fall in the early days of Bitcoin. ⤵️
June 2011 had seen Bitcoin’s price hit about $32, falling precipitously to $2 over the course of five months — that’s a 94 percent drop. Many investors, unsure about what to expect in the crypto world, decided to cut their losses and get out of the Bitcoin game altogether — and these same people will now be kicking themselves that they didn’t ride out the correction, as they would have undoubtedly been multimillionaires by now.
#explained
We are starting to post some new topics in our official telegram channel. 💡
And today we are going to tell you about...
Biggest falls and raises of Bitcoin.📈
1️.
November 2011
A sharp fall in the early days of Bitcoin. ⤵️
June 2011 had seen Bitcoin’s price hit about $32, falling precipitously to $2 over the course of five months — that’s a 94 percent drop. Many investors, unsure about what to expect in the crypto world, decided to cut their losses and get out of the Bitcoin game altogether — and these same people will now be kicking themselves that they didn’t ride out the correction, as they would have undoubtedly been multimillionaires by now.
#explained
We are starting new posts categories and one of them called #explained
And today we want to talk about...
Legality of cryptocurrencies 👮♂️
As cryptocurrencies are becoming more and more mainstream, law enforcement agencies, tax authorities and legal regulators worldwide are trying to understand the very concept of crypto coins and where exactly do they fit in existing regulations and legal frameworks.
With the introduction of Bitcoin, the first ever cryptocurrency, a completely new paradigm was created. Decentralized, self-sustained digital currencies that don’t exist in any physical shape or form and are not controlled by any singular entity were always set to cause an uproar among the regulators.
A lot of concerns have been raised regarding cryptocurrencies’ decentralized nature and their ability to be used almost completely anonymously. The authorities all over the world are worried about the cryptocurrencies’ appeal to the traders of illegal goods and services. Moreover, they are worried about their use in money laundering and tax evasion schemes.
As of November 2017, Bitcoin and other digital currencies are outlawed only in Bangladesh, Bolivia, Ecuador, Kyrgyzstan and Vietnam, with China and Russia being on the verge of banning them as well. Other jurisdictions, however, do not make the usage of cryptocurrencies illegal as of yet, but the laws and regulations can vary drastically depending on the country.
And today we want to talk about...
Legality of cryptocurrencies 👮♂️
As cryptocurrencies are becoming more and more mainstream, law enforcement agencies, tax authorities and legal regulators worldwide are trying to understand the very concept of crypto coins and where exactly do they fit in existing regulations and legal frameworks.
With the introduction of Bitcoin, the first ever cryptocurrency, a completely new paradigm was created. Decentralized, self-sustained digital currencies that don’t exist in any physical shape or form and are not controlled by any singular entity were always set to cause an uproar among the regulators.
A lot of concerns have been raised regarding cryptocurrencies’ decentralized nature and their ability to be used almost completely anonymously. The authorities all over the world are worried about the cryptocurrencies’ appeal to the traders of illegal goods and services. Moreover, they are worried about their use in money laundering and tax evasion schemes.
As of November 2017, Bitcoin and other digital currencies are outlawed only in Bangladesh, Bolivia, Ecuador, Kyrgyzstan and Vietnam, with China and Russia being on the verge of banning them as well. Other jurisdictions, however, do not make the usage of cryptocurrencies illegal as of yet, but the laws and regulations can vary drastically depending on the country.
Hey, cryptofellows! 👋 How are you there?
Another post of an #explained series of articles. Security is one the most important topic in crypto community.☝️ We want to share with you some basic things about wallet security and start with the question that sounds like:
I noticed that my wallet sets a new address every time I sign in - is it ok?🤔
Yes, it’s for your wallet safety. 🕋
This method is called HD-safe, or "hierarchical deterministic", and means that every time you send or receive funds, a new address will be generated for your wallet. That’s a useful option, because it makes your transactions harder to track, and impossible for hackers to calculate the actual amount of money you keep at your wallet. If you need to transfer a big amount of coins you better split it to several transactions.
Write questions in comments, stay cryptotuned!🔊
Another post of an #explained series of articles. Security is one the most important topic in crypto community.☝️ We want to share with you some basic things about wallet security and start with the question that sounds like:
I noticed that my wallet sets a new address every time I sign in - is it ok?🤔
Yes, it’s for your wallet safety. 🕋
This method is called HD-safe, or "hierarchical deterministic", and means that every time you send or receive funds, a new address will be generated for your wallet. That’s a useful option, because it makes your transactions harder to track, and impossible for hackers to calculate the actual amount of money you keep at your wallet. If you need to transfer a big amount of coins you better split it to several transactions.
Write questions in comments, stay cryptotuned!🔊
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