Publisher's Synopsis
TULIP MANIA was a period in the 1630's when contract prices for some bulbs of the newly introduced tulip reached extraordinarily high levels and then dramatically collapsed in 1637. The term "tulip mania" is now often used to refer to any large economic bubble when asset prices deviate from intrinsic values. BITCOIN is a digital cryptocurrency introduced in 2009 with an intrinsic value that texts only in cyberspace. Its markets value has surged from fractions of a cent to almost $20,000 USD at this printing. Some investors believe it will break $100K, $1M, or even $5M over the next decade. Unlike gold or silver or other tangible assets, it exists as lines of computer code.Is it a major change in world finance, or simply latest tulip mania for geeks, as one Dutch finance official stated?In this book we address the strengths and vulnerabilities of Bitcoin and other cryptocurrencies.- When a business allows their customers to use Bitcoins to make payments it is an advantage to the buyer because they do not have to share any of their confidential financial details such as debit or credit card numbers.- With conventional payment methods a business usually stores the customer's financial data for future transactions. This is fine if their systems are secure and they do not suffer from any data breaches where cyber criminals can steal their information.- Hackers cannot intercept a Bitcoin transaction. - There is no Inflation or deflation with Bitcoin. No government can manipulate the supply, increasing or decreasing it as with fiat currencies. - The transaction fees are lower than with credit cards or wire transfers.- Once a Bitcoin transaction goes through then it is irreversible; there can be no charge-backs.- There are no third parties involved in Bitcoin. No government can seize your Bitcoins or freeze your account. - It is very difficult to steal Bitcoins if you secure them in the right way... as we show you. - Faster and less expensive International Payments. You can make a payment in Bitcoins anywhere in the world for a very small transaction charge. The recipient also receives the Bitcoins a lot faster than an international bank transfer.While many are interested in using Bitcoin for sales and purchases, others prefer to invest in the relative value of cryptocurrencies against the US dollar or other world currencies. We offer super-simple strategies to help you get started.It's said that Knowledge is Power. These days, Knowledge is also Wealth.
