Bitcoins be the future currency bitcoin arbitrage korea

Bitcoins be the future currency bitcoin arbitrage korea
Lets first get things straight it is not a currency currently, but seems to me as an alternative commodity monetary system. If you wish to have purely stable value against the dollar you can go on CME/CBOE futures exchanges to lock in the price as price insurance today. Its not that expensive, and I expect the price to insure will go lower with a bigger market if you do not want volatility risks associated with a commodity like asset that can be used as mon. ey. I dont see it replacing the USD, yet people keep assuming I think it would when I even mention the word Bitcoin. Its really frustrating because people have strong assumptions and are way too guarded when it comes to new forms of mon. ey, even when Im not se.lling them anything. A lot of bankers or invtors in bank corporations have strong vted intert to spread misinformation or negative views without understanding, so you get a good amount of these people who are overly co.nservative about their beliefs based on blind faith in authority. You have people like JPM CEO Jamie Dimon claiming Bitcoin is a fraud while later retracting his statement with no apology for misinforming the public. Ironically, these are the same people that proted from widespread mortgage fraud and moral hazards that led to bailouts in 2008. Transaction fees have decreased in magnitudes recently due to recent scaling efforts on Lightning Networ.k and SegWit that was not accounted for by media outlets or bankers but well known among developers that would happen in advance. Yet for the people that do not fully understand, its especially easy to criticize something, especially when the price is dropping. The media has gotten things wrong like China bans Bitcoin when it was and still is not true, or South Korea bans Bitcoin when the opposite direction was occurring. A game of telephone if you will, even with reputable media outlets. When transaction fees are $0.01 or under Litecoin is currently at this level already, Bitcoin is near $0.05 currently down from $20 per tx, it becomes attractive to be used as a medium of exchange for individuals. Over time, it will give VISA a run for their mon. ey. Lets discuss non illicit and non speculative uses currently Bitcoin is already widely used frequently for purposes including legal marijuana businesses, legal internet gambling businesses, various porn sites, riskier warehouse financing operations/underbanked, remittance, protection against hyperinflation, SWIFT alternative for sanctioned countries, which is substantial use already. There are entire malls in Japan and South Korea for tourist uses and you actually gain from arbitrage by using cryo there as a US tourist on top of not losing the hefty foreign exchange fee on your credit card. Coinbase also has their own merchant adoption system along with BitPay. Unfortunately traditional media outlets seem clueless or do not report less than sensational news. Another assumption people keep assuming that all merchants change it to cash right away because of risks. Not every merchant is immediately changing it for cash even publicly traded companies are holding some portion of proceeds See NASDAQ OTSK SEC 10 K Our decision to accept and hold cryocurrency, such as bitcoins, may subject us to exchange risk and additional tax and regulatory requirements. More is expected to happen in the future with regards to privacy related, micro transactions and micro credit/insurance related development. For example, the way the internet is structured currently is favorable for cryocurrency solutions as accounting is impractical for co.ntent in regards to small transactions with regular currency. So you see paywalls and ads. This is not an ideal situation for a post physically co.nstrained world enabled by the internet that can be accessed by a $3 Android smartphone yes, they exist and are accessible already in third world countries. One solution is having autonomous bots to buy and se.ll anything that interts the user holding their identity based on millions of micro transactions instead of entrusting the personal data to centralized entities i.e. FANG. This is basically a monopoly for cryocurrencies over traditional currencies. There are other examples such as financial privacy where currencies leave gaps, but to keep the answer short, Ill just mention this one because there are a lot of misunderstandings with the value of financial privacy. People assume quickly only criminals need privacy. However, if you know the nature of Bitcoin, youll find its unattractive for criminals, whom prefer to use Monero, Zcash or Dash. Just look at Europol reports on cryocurrency Bitcoin price volatility is likely to reduce as markets become more stable and liquidity is increased in the long run, over decades. i.e. recently NYSE owners new startup with custodi