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RE: How To Explain Bitcoin To Your Grandparents - The Simple Way To Wrap Your Head Around Bitcoin
nice article(not only for grandpas of course ) :D
btw does anyone knows the reason of increasing the price of bitcoin in last couple of days ? and is it probable that it goes back to 7xx ?
General opinion is that the move up to about USD 830 was fuelled by a flight from fiat currencies. Particularly from the Chinese Yuan, but the collapse of the Venezuelan Peso, and recent currency uncertainty in India, have pushed people to seek safety in holding Bitcoin. Bitcoin is less likely to be subject to seizure because of its relative anonymity, and lack of physical form. Governments of countries with failing currencies often try to seize foreign currency holdings of their nationals, or at least restrict its movement, in the name of national security. Governments often try to put the blame for currency devaluation on foreign conspirators.
Whether Bitcoin will hold its value depends on whether any big holders of Bitcoin decides to cash out.
My feeling is it will hold at USD 800. Above that seems to be driven by people buying into Bitcoin so as not to miss an opportunity. In other words above USD 800 looks like bubble driven purchases.
ColdMonkey mines Gridcoin through generating BOINC computations for science...
thanks for your explanation, gonna wait and see how it will turn out in next couple of weeks
There are a lot of reasons that you can search on Steemit and Google. Too difficult to explain in a comment.