The idea of Bitcoin is pure genius. But, people are still confused about when it. Some know what it is, while some are still struggling to ask the simplest questions with fear that they might look silly.
Questions can be silly and that’s completely okay! We don’t judge! In fact silly questions can be quite enlightening for everyone and make you look at things at a deeper level. So, we present you with the most silly questions asked by people.
Do People Really Use Bitcoin?
Well, duh! There are millions of millions of Bitcoin transactions literally everyday. This shows that the Bitcoin network is fully functional and being frequently used. The truth is, businesses have started to accept Bitcoin as a payment method. Isn’t that great? A virtual currency being used for buying goods and services! Gotta love the 21st century. We’ve definitely hit a new revolution which isn’t going to stop anytime soon. It’s just the beginning baby!
But, it’s super hard to determine the exact number of people using Bitcoin. It’s practically impossible! Its because a single user can have multiple wallets in possession. Even if a person forgets the address to their wallet, it will still remain on the network forever. That’s exactly why counting the number of wallets as people have suggested is not the right way to get the exact number of users. What we really need to know? That people are using Bitcoin and Bitcoin is here to stay for good!
Can You Make Money With Bitcoin?
It seems like a silly question. But, trust us! It’s a genuine concern among the people. It’s also one of the hardest questions to answer as well. If you approach the question as a crypto-enthusiast. The answer is simple. “Yes, of course you can make money with Bitcoin. It’s the best thing ever!” However, we’re not here to feed you with false hopes and half truths. Sure, Bitcoin took of like crazy in the past few years and its price has been skyrocketing too.
The thing is many factors need to be taken into consideration. You can’t just turn a blind eye to the reality. The reality is that even though businesses are slowly accepting this payment method we don’t know for sure if all of this will be enough to survive. The problem is that there have been plenty of revolutionary technologies that took off for a minute and before you know, it sunk like a rock in a lake. A short and precise answer would be “Yes, you can make money through Bitcoin.” But, there are always risks that will have to be taken into account. If they are neglected you could find yourself in a huge financial mess and Bitcoin could be the reason behind your tears! So, stay safe! Learn before you begin to make investments.
Is Bitcoin A Virtual Currency?
Well, no shit! How can we put it for you in the best way possible? Hmm. Look at it this way, Bitcoin is as virtual as a Credit or Debit Card. Technically, Bitcoin doesn’t have a physical form. The Bitcoin balances are actually stored in a large network which then distributes all the information amongst the holders of each balance.
We say, the most easiest way to use Bitcoin is through your smartphone. If you live under the fear that the Bitcoin will vanish because it have no physical form. Don’t worry! It can’t happen okay? They are stored on the blockchain and the blockchain itself is immutable. The currency may be virtual, but it’s much more powerful than you can imagine
If you have more silly questions to ask. Let us know in the comments below. We’re happy to answer them for you!