8 questions about bitcoins
November 15th, 2017 |
What is advantage of ICO over IPO?
To take company to IPO it is required to have substantial resources which include money and staff of legal and finance specialists. ICO doesn’t use that much of resources. In fact, it needs detailed white paper with idea and what problem that project will solve; strategy to execute; solid team; issuance of tokens and finally search of investors.
Will ICO thrive in Russia?
Companies in Russia already run their ICO, but mostly they are using foreign jurisdiction. Our president proposed to pass a legal bill to regulate such activities by July, 2018.
Why Bitcoin price grows that high?
Because people buy it, they believe in further growth and the fact that 0,5% of world population has crypto currencies makes it obvious reason why Bitcoin value increases.
Will Bitcoin cost million of dollars?
Nobody knows the answer to that question, under some conditions it probably could reach that high and also it might cost zero of dollars, as Bitcoin is backed by peoples expectation only.
Who controls biggest share of Bitcoins?
Crypto currency holders are anonymous, that’s why no one knows who they are pretty much, but people say that creator Satoshi Nakamoto owns 5% of all Bitcoins.
Does Bitcoin provides anonymity?
Yes, of course. Even though all transactions are transparent, it is impossible to find out who is behind those transactions.
So it can be used for money laundering and capital outflows from country?
It is possible, but there are much easier ways to do so. It is like asking if you can commit a crime with a phone and answer would be, yes, you can do that, but that wasn’t the reason the phone was invented for.
Can we out maneuver West sanctions by using Bitcoin?
I think we can. Only if our county will implement all necessary legislation and tokens will be legalized in Russia.