In recent years the news were quite enthusiastic about a
technology called blockchain, which i san underlying solution for every crypto
currency. How much trust we can put in this technology? Does it really offer a completely new way of handling trust?
Is blockchain a totally new way or another overrated tech
and economic bubble?
Does lack of in-depth knowledge about keeps poeple/you
away from investing in blockchain? Why?
How would you validate the asset before investing money?
Comments
Every investment in something new brings a risk, so you have to invest only a part of your money that you can lose and will not cause a lack of daily expenses.
2. No. As the speaker said people don’t understand how internet works and they still use it. Could be said for anything really.
3. Like I would validate any asset I buy. I would still have to trust institutions.
I think I understand the technology, at least the basics of it, but I never invested in Bitcoin because I don't know the laws of the market and I can't predict the price and don't know how should I buy and sell profitably.
Before investing money I would check if the company or commodity is something well established and stable because I don't like big risks.
Transparent ledger, everybody can see and download all transactions ever made.
Security, relies on cryptographic algorithms that make it very difficult to malicious changes in the ledger. Decentralized consensus on transactions.
Performance is the biggest disadvantage of Blockchains. When a transaction is being processed, a blockchain has to do a lot more than just a traditional database,Also in Blockchain, effort must be expanded to ensure that nodes reaches consensus.
Blockchain rather something in the middle, it's have neache but it will never overtook the popularity of regular money.
Does lack of in-depth knowledge about keeps poeple/you away from investing in blockchain? Why?
Yeah, totally. You wouldn't invest in something you dont understand and have high risks. And it's requre at least middle skill with computer technology to operate that. Also there is not that much ways of spending it right away so you louse on conversion.
How would you validate the asset before investing money?
First of all if don't know how the tech works I would start with the basics and try to understand where it's value from and what factors make it more valuable. Then I would try to analize live news and predict how it effects market behaviour and only after verifying my thought with real money I would invest
I would validate stability of an asset during last years and future predictions and exspectations related to this asset. Of course, there are much more things, but these two are main.
Yes. I think lack of in-depth knowledge is the main reason why it’s not used almost everywhere now. After global economic crisis people are afraid of accepting something new. They consider everything to be a new economic bubble. This factor slows down the progress heavily.
No, for me it's not about lack of knowledge. If we talk about blockchain investment from cryptocurrency investment perspective than it's clear that such investment has a huge risk. Also, most problems can be solved even without using blockchain technology, so it's also the question if it really necessary for us to use that experimental technology at all if there are more reliable solutions.
Well, I would probably make some research about it before investing.
How would you validate the asset before investing money?
It's important to understand the asset before investing. It's also important to read some predictions. The big value can give us the conversation with people who are in the topic for a longer time.
The buzz around crypto market and its volatility turns conscious investors away from it.
I really dont know. I would probably check competition and its competitors investment status first. If there is a chance that a competitor will pull ahead even with my investment i would not risk it.
In my opinion it's a trap because in one time something can cost about 5k dollars and after a half of day price have fallen by 50%. That is a lottery for me.
For now it is both at the same time. It's new technology, but it's overrated by people that don't know anything about it's structure and how does it work. And it will become economic bubble in the first few iterations, when everybody will mindlessly use it.
Does lack of in-depth knowledge about keeps poeple/you away from investing in blockchain? Why?
Mostly I'm not investing in it, because it's too expensive to buy Bitcoins, and other cryptocurrencies are not stable enough, to be worth investing in them for that moment.
So I will invest in them, but in the future, when I will have money for invests.
How would you validate the asset before investing money?
This depends on the asset type - if it's electronic, that I will use more or less daily I buy the new one with the guarantee. In most cases I'm unable to verify quality directly, so I have to rely on the guarantee only.
Yes I agree that lack of in-depth keeps away people in investing it, mainly because they are aware of it and the popularity of it is making them cagy. They are looking for some loophole in it.
I wouldn’t invest any money in something I don’t have enough knowledge about and in something very risky, because it’s not on my nerves. I prefer to get rich steadily and safely.
It's always better to be in-depth of something-you want to invest-in.
I would validate the asset according to its history and future plans
It is quite new approach, but countries wont allow it to exist. Many side alt-coins seems to be a bubble,but generally bitcoin blockchain is doing fine
Does lack of in-depth knowledge about keeps poeple/you away from investing in blockchain? Why?
It might, but its not a big deal, its a simple idea, every chain in the block is made partly from previous hash, that's why its called blockchain
How would you validate the asset before investing money?
First: stay away from gambling
2. I personally wouldn't invest a lot of money in blockchain because a wallets have poor protection. When you want to do a overflow and you misspeld one character you will lost all of your virtual money.
3. I already tried and I did some research before and after that I decided to stop investing my money. This market is too dynamic for me because when I bought some cryptocurrencies I was always afraid that I will lost it in 5 minutes.
In my opinion blockchain is somewhere in the middle. It is not overrated technology, although it got a lot of attention lately, but I don't think it is going to revolutionise the world.
2. Does lack of in-depth knowledge about keeps poeple/you away from investing in blockchain? Why?
I don't quite understand the question, but I think lack of in-depth knowledge about any subject limits people from investing their money in anything.
3. How would you validate the asset before investing money?
I'd probably want to meet the expert, ask some questions, tell about my worries, present my investment plan and then decide after hearing him/her out.
You're right, I refuse to invest in it, because of a lack of knowledge in this field - for now ;)
I want to dive deeper in blockchain or crypto-currency, and I'll do it when I posses some kind of knowledge in this area.
It's important to understand the asset before investing. The risk is huge I think, but it can be worth it - it's good to have a conversation with people that know this topic well - it could give a huge head start
I think it's a new way, but in my opinion bitcoin just opened doors for newer and more meaningful cryptocurrencies that actually can change money flow and replace MasterCard/Visa.
Does lack of in-depth knowledge about keeps poeple/you away from investing in blockchain? Why?
I think for last 5 years there was so lot information that even my grandma knows what is bitcoin, but I cannot pay for pizza by bitcoin, who need a currency that cannot be used for main purpose.
How would you validate the asset before investing money?
Bitcoin has not real value because people don't use it for everyday payments, so it's just a set of digital 0s and 1s that actually cannot bring you goods, who will invest to it?
But for now my goal is to collect money, and then think about investing, not vise versa.
I think that the gold rush with bitcoin, inspired other with opportunities, and in next decade we will see the rise of cryptocurrencies.