It is betaware and will eventually be overtaken by Ethereum which is government backed.
No links to support it, I heard it from a crypto currency researcher while attending a presentation in CryptoValley. Could be total BS.
To answer some of your questions...
Bitcoin is extremely easy to buy and sell (with 0% comission on the exchange I use)
A free online bank transfer to your chosen exchange can be done within 2-3 working days. The exchange has a wallet where you can store your euros, pounds, dollars, and bitcoin. Most exchanges have a more secure offline digital vault which provides extra protection against hacks. There is usually a 48 hour waiting time, once bitcoin is requested to be transferred from the vault to the wallet. During this time you will receive emails confirming that it was definitely you who requested the transfer and giving you the option of cancelling it if someone else requested the transfer. It is not a good idea to hold you crypto on exchanges anyway. I am buying a Trezor hard wallet which is extremely secure. Selling Bitcoin to Euro is also simple and once again 0% comission on the exchange I use.
The blockchain technology behind the transfer of bitcoin from one person to another or one person to an institution is completely secure and has never been hacked. It is poor security on exchanges that is the problem. However lessons have been learned after Mt Gox.
The max amount of Bitcoin out there after the last one is mined in the year 2140 as you say will be 21 million. Some people have lost their private keys and this will certainly reduce the number available to trade. Those lost in Mt Gox are possibly still circulating or stored by the hacking group responsible.
I don't really understand your last question. But don't forget although the price of a single Bitcoin is approx €7000 now you can buy tiny tiny fractions of bitcoin.
And I would imagine that the amount of bitcoin held by the criminal world represents a large portion of the total, does this mean that we will have a huge amount of criminal Bitcoin billionaires down the line. Or will any criminal trying to exchange their Bitcoin to other currency come under authorities scrutiny and hence try to continue living in a bitcoin world. It's anyone's guess I suppose.
The bitcoin multiplying company I invested with are about to bring the first Bitcoin ATMs to Ireland!!
I know! At $5 a bitcoin I was going to buy a grands worth of them but just never got around to it and I honestly just never believe in them. So every time they have gone up since I've just thought that the increase has been crazy. I'd be a millionaire if I had and held them. But as I say I never believed so more than likely would have started selling out at $50 and considered my self just blindly lucky!
I see the general stock market in need of a major correction....although I saw this 2 years ago and was wrong!!!
Back in the day when I was a heavy advantage gambler some new bookies appeared that offered to take Bitcoin , in the whatsapp group I was in at the time there was about 8 of us , most of us hadn't heard of Bitcoin (I know I hadn't) but it was cheap maybe like 10c per Bitcoin or 20c I can't remember exactly. We all bought some for the purpose of using it on these obscure gambling sites , think I invested 1000. It never really took off (from a gambling point of view) but we hung on to our Bitcoin and generally forgot about it (pity we didn't develop full amnesia!) but fast forward some time later and we got back talking about Bitcoin as someone mentioned it had gone up in price dramatically. I think I sold at like €1 ( I don't remember really tbh ) but proabably made 5 x my money.
Out of the 8 of us , one of the guys was adamant it was going to be huge but even he sold at under 10€ , when I read the "if you had of bought xxx you'd be a millionaire stories " I don't really think they are realistic unless you went into a coma i'd imagine 100% of people will sell well before they let an investment grow that big.
Noone knows who owns how much bitcoin, so saying that criminals hold a lot of it is unfounded. Criminals mainly use USD.
You can buy gold with bitcoin on suissegold and many other brokers.
You can buy property if someone sells it to you, but you still need to pass AML.
Thanks for the info. And just to confirm, it's easy to get your the EUR in the wallet from your exchange back to your bank account after your sell your bitcoin for EUR right? The only reason I ask is that you always hear of people buying Bitcoin but I rarely hear of anyone selling it
Do you know the Dublin dealerships that are accepting bitcoin? Curious to see which ones they are.Very interested in hearing about this.
I believe quite a number of car dealerships in the UK are now accepting Bitcoin as payment. In recent weeks i have seen a few dublin dealerships also advertising that they also accept it as payment.
From my understanding Bitcoin is now becoming more of a store of value and Bitcoin Cash is the new prevailing method of payment.
Do you know the Dublin dealerships that are accepting bitcoin? Curious to see which ones they are.