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Bitcoin [BTC] is revolutionary sound money; ICOs and STOs are ultimately centralized, says Bobby Lee

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Bitcoin [BTC] is revolutionary sound money, ICOs and STOs are ultimately centralized, says Bobby Lee
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Crypto-savant Bobby Lee, a well-known Bitcoin’s enthusiast in the community, tweeted explaining when to buy Bitcoin and when to sell it.

In his tweet, Bobby Lee explained when to buy Bitcoins, the first being after completely understanding how Bitcoin is a revolutionary form of sound money. Bitcoin revolutionized p2p transactions through its underlying technology, the blockchain, which keeps the records safe and is immutable and it runs on a complete decentralized network, meaning, no central or controlling authority has control over it.

The second reason for buying Bitcoin according to Lee’s tweet was if one didn’t own enough Bitcoin or didn’t own any Bitcoins. The third point insinuates that if the above-mentioned points hold true then one should buy Bitcoin no matter what the price of Bitcoin is right now.

His second part of the tweet pertains to selling Bitcoin. The first reason that Lee explained to sell Bitcoin is after getting a 20x gain. Furthermore, Lee asks not to sell it completely, but rather diversify the investment which is his second point.

Just before tweeting the reasons/timings to buy Bitcoin, Lee sent out a tweet that said that Initial Coin Offerings [ICO]s or Security Token Offerings [STO]s are ultimately all centralized and that the real revolution and the sound money was Bitcoin.



To Lee’s “when to buy Bitcoin?” tweet a user Rafal replied:

“Very good advice but we have to remember that soon or later bitcoin price will start to stabilize and someone who bought for 20k will have to wait quit long to get X 20 profits”

Twitter user Ryan Radloff commented on the STO tweet saying:

“The most important & under appreciated (& valued) companies working on the 2nd layer of #bitcoin are:@Blockstream, @lightning, @RSKsmart, @commerceblock, They are all building “the roads” on top of a predictable rock (bitcoin) not sand (eos tron neo eth etc)”





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Bitcoin

Bitcoin [BTC] will be vulnerable to quantum computing if we’re not prepared, says Andrew Poelstra

Biraajmaan Tamuly

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Bitcoin will be vulnerable to Quantum Computing without preparation, indicates Blockstream Researcher
Source: Pixabay

Security is an important aspect of every crypto-asset and Bitcoin [BTC] is often dragged into debates on whether the blockchain is protected from hacks or vulnerable to certain technological developments.

In a recent episode of whatbitcoindid, Andrew Poelstra, the Lead Researcher at Blockstream, was asked about whether Quantum Computing was a genuine threat to the existence of some Bitcoin on the current blockchain.

Poelstra indicated that the threat was evident, but it was still a long way off from being practical in the current technological field. He mentioned that he expected quantum computing to come into play against the security of Bitcoin in “maybe less than 15 years” and said that he would be really surprised if “it was less than 25 years”.

Poelstra said that it was necessary to take actions in the current scenario for post-quantum systems because he believed that without any preparation for the impending technological aspect, it did not matter how the future rested. Without preparation, the community was going to be blindsided, he said.

He stated,



“It’s important now that we started working on standardization and exploring ideas and exploring what Bitcoin is going to look like in a post quantum world but in the current scenarios there were no candidates for post quantum schemes that would be reasonable to deploy them in a Bitcoin.”

The introduction of quantum computing in the cryptocurrency scenario was a topic which was widely debated among other personalities in the community as well. Mati Greenspan, a prominent eToro Analyst, had started earlier this year that the threat only existed to Bitcoin if quantum computing was available to only one person.

If people or users collectively upgraded to quantum computers, then the Bitcoin miners would upgrade among themselves to protect it from an alleged 99% attack, which is possible with a quantum computer.





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