Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator.
Bitcoin is a digital currency created in 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity has yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies. Today’s market cap for all bitcoin (abbreviated BTC or, less frequently, XBT) in circulation exceeds $7 billion.
How Bitcoin Works
Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, also known as “miners,” are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million. One bitcoin is divisible to eight decimal places (100 millionth of one bitcoin), and this smallest unit is referred to as a Satoshi. If necessary, and if the participating miners accept the change, Bitcoin could eventually be made divisible to even more decimal places.
Bitcoin Exchanges in Thailand
A Look At The Most Popular Bitcoin Exchanges. Finding the Best Bitcoin Exchanges In Thailand is not that easy but with the help of bitcoinexchangethailand.com the task become easy and trustworthy , They will be reviewing the best bitcoin exchanges in Thailand, than they will be covering the bitcoin exchange that they use the most first.
Actually, there is only one that is worth using.
According to Bitcoin Exchanges In Thailand , They noticed that the bitcoin in Thailand can be around 10,000 to 30,000 more expensive than on an USA exchange like bittrex crypto exchange, (when converted to USD) Therefore the challenge is to make sure there is enough spread in between the exchanges. Then you need to move your currency via a stable coin that has a little spread or no difference, then you sell it for a coin on the exchange into cash or another coin, then trade it to a bitcoin again, then send it back to your Thailand crypto exchange and cash out the difference. I am as confused as you, there is many variances, calculations and you need to plan your trade and keep checking as prices fluctuate, many of my friends aim for 3% per time, but i have got 10% many times. The problem is when the prices change for the worst and you need to hold out and wait!
All the Tools You Need to Succeed
You can set your bids in for the coins, if you have little time, I would look at the charts and see what the base price is, then leave it to buy when it hits a low. Then you can look at the peaks in the charts and set them to sell at an upper amount. You can plan your trade and forget it for a few months. I have spoken to alot of successful guys and they buy low and sell on the pump/spike, its the best method to make a good income, the trick is to not get greedy and sell out when you have reached a reasonable amount, I often go for a double, but many people aim for 4x or 10x I see many amature traders buy on the rise and getting so greedy that they end up with a coin back at the base level. I find its better to go the opposite direction, sell when everyone is buying and buy when everyone is selling! Many guys ditch bitcoin and buy alts at the same time, so bitcoin goes down and alts go up, the money is going in the opposite direction to everyone else, but it takes patience. Trading View – this is a very good tool to look important in your office, its also very good at seeing trends, candles, charts, bitcoin tickets, comparisons and all sorts of tools that confuse the hell out of me, but please look at the graphs, study, look for trends and find some gaps in the market. I like to look at the bid and sell volume as one of many indicators, to see what the prices may do, if you see alot of red then the price could be going down, if you see alot of green, then it could be going up, but be aware of people adding orders to make the volume on either side look higher and then cancelling early.
For more in depth materials about Bitcoin in Thailand please visit : http://www.bitcoinexchangethailand.com