Should I invest in Bitcoin? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.
Whether one should invest in bitcoin or not depends on whether you think Bitcoin will become a long-term trusted store of value.
If it does become a long-term trusted store of value, BTC should trade around $2,000,000 a coin (depending on how many coins are lost and are actually in circulation). That is over 100x the price of where BTC is today.
If BTC does not become a long-term trusted store of value, its likely price will be close to zero (unless it becomes a “cool” collectible… which is a possibility).
So if you think BTC has a 10% chance of becoming a long-term trusted store of value, it is a good investment with a nice expected return.
How is trading cryptocurrency different from stocks and forex trading? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.
Answer by John Hwang, Former Senior Options Trader at Morgan Stanley, on Quora:
Many newcomers to cryptocurrencies believe that investing in cryptocurrencies/tokens through a cryptocurrency exchange is like buying stocks at Fidelity or ETrade.
The truth couldn’t be any more different.
There are many, many more differences, but here are a few..
In any asset, there is significant informational asymmetry between insiders and outsiders. In stocks, insiders are people like executives and mutual funds who have material, unfair advantage over outsiders who don’t have access to the latest financials, board room meeting minutes, etc.
What is Ethereum and how is it different from Bitcoin? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.
Answer by Samantha Radocchia, Emerging Technologies Entrepreneur and Scholar, on Quora:
Today’s hype surrounding Bitcoin, Ethereum, cryptocurrency, and blockchain technologies rivals the dot-com bubble in the 90s.
Prices are substantially more volatile than traditional assets, which means the swings are ripe for traders who know what they’re doing – and perilous for those who don’t.
If you are ready to step up and take your crypto trading to the next level, there’s a lot to learn, but it’s nothing you can’t handle.
Remember: Most traders will lose money trading crypto. Position yourself ahead of the pack by learning how to trade like a pro.
If you are just jumping in for the first time, you should start small and scale your exposure over time.
Staying safe should be your top priority.