Blockchain technology is now used in various sectors of the economy, including healthcare, education, agriculture, automotive and banking. The ability of a distributed ledger to ensure data integrity, traceability and transparency was one of the key features that contributed to its adoption by companies in these sectors.
Bitcoin is an emerging digital currency. Recently bitcoin was in its infancy, and now it seems that it is becoming a more mature currency. The popularity of this virtual currency is constantly growing and every day we see more and more people joining this innovative industry. Bitcoin will certainly shake and destroy traditional economic and financial foundations and turn them into a more equal and democratic model.
The Bitcoin ecosystem is also increasing its agility, and more and more business segments are accepting this new currency every day. Evangelists of the movement are trying hard to introduce Bitcoin into everyday life – to turn it into a currency, not an asset or a financial instrument, and make the most of its unique functionality.
Functioning of the bitcoin market is similar to functioning of the market of some goods (coffee, gold, etc.), which is brewed/produced and sold on the markets, its price fluctuates depending on supply and demand.
Where do you trade bitcoin?
It is easier for us, not the miners, to get Bitcoin now than it was a year ago. All you have to do now is to be in the right country to buy and sell Bitcoins, where exchanges legally act as intermediaries for currency trading – something that also protects your funds from mismanagement and from external and internal attacks. These exchanges instantly convert your Bitcoin into USD or another currency, and based on the price fluctuations between these two currencies, you can simultaneously sell and buy their assets and make good profits – a process we know as arbitrage.
Наиболее часто используемый жаргон в индустрии биткойн – “Майнинг биткойн” – относится к концепции централизованной обработки, на которой базируется инфраструктура биткойн. Легко думать об этом, как о простой форме копания в интернете, чтобы найти биткойны, но на самом деле, это немного сложнее и имеет более широкие последствия, чем простое накопление богатства.
There are many advantages of using bitcoin over traditional currency. Here is a brief information about advantages of using bitcoin for transactions for goods and services.
People can use Bitcoin to make payments to other people or businesses. It is easy to use and very secure, with low transaction fees, and you can spend it directly from your computer, tablet or smartphone – ideal for online business transactions such as online casinos or investment funds.
В течение ещё пятнадцати лет после того, как это было написано, Bitcoin не был осуществлен, но было несколько ранних попыток анонимной системы цифровых транзакций. Одна из первых попыток была предпринята американским учёным-компьютерщиком и криптографом Дэвидом Чаумом. В 1990 году он основал DigiCash, криптографическую систему электронных платежей, которая использовала “слепые подписи”, чтобы позволить пользователям подписывать сделки в цифровом виде, не раскрывая их личности. Падение системы было централизацией, так как она размещалась в собственной компании Чаума, которая отвечала за проверку подлинности каждой подписи. В конце концов, это привело к банкротству в 1998 году.
Bitcoin is an effective solution when it comes to sending or donating online. Donations can be seen by the general public, which helps find a better financial solution and greater transparency for non-profit organizations. Also in emergency situations, such as natural disasters, donations to Bitcoin arrive faster to those who need them, thus reducing international response time and being extremely effective as a smooth way to transfer values. Although there are still very few initiatives, we are already seeing the first crowdfunding projects related to Bitcoin appear more frequently.
Money is what money does. It’s a repository of value, a means of exchange, a form of power, energy consolidation… you can add those definitions. For a comprehensive understanding, post-reflection of this article, there is a page of the investment project that deepens this discussion into the history to date. It is important to note that money has developed throughout history, along the path of development and regression of human civilization. Crypto-currency is a revolutionary innovation that redefines how money works. More importantly, it is rethinking how the world works with money. It is an area of interest for further impartial (cognitive, technocratic and bureaucratic) research by politicians, economists and governments around the world.