Was the landmark year of 2017 for Bitcoin the media’s attention to the new digital currency was mainly caused by a price surge. Since then, the newspaper headlines have become a headline in all media and speculations.
About the price of bitcoins has emerged.
The technique has always had a backrest.But what caused last year’s Bitcoin boom The breakthrough rate of bitcoins depends on several factors. The wide range of decentralized energy supply technologies (DLTs) has led to significant technological advances that have enabled the development of new applications.
As far as Ethereum, Ripple, and IOTA are concerned, other niche products have experienced enormous price increases and attracted the attention of investors. In addition, more and more large companies are interested in block technology and have joined the Enterprise Ethereum Alliance, for example. Growth in many markets already known as Everything Bubble was particularly pronounced in 2017 in terms of equity and real estate prices.
For an investor who is not involved in cryptographic or blocking technologies, investing in a cryptographic currency is very risky. Courses are only a logical response to an industry and technology that is still in development and needs to be explored. And, of course, there are also fraudulent activities in this area.
Storing your tokens in a safe place is certainly not an easy task for beginners in this environment. Stock exchanges and online portfolios are also managed by intermediaries, so you should first check who entrusts the money and who does not.
The market is simply still very fresh and the technology is similar to the experiment, so I recommend all those involved not to invest more money in projects that they want to lose.
Every opportunity is often associated with risks. Risks that should be gradually reduced with the development of blockchain technology. Errors are eliminated, solutions are found Separated from internal value and speculation about bitcoins, core technology is DLT (Distributional Accounting
Technology (DLT) or block technology, which is part of DLT.
This technology is extremely exciting and has a revolutionary potential, because today it is technically feasible, which seemed impossible many years ago. With the further development of the self-realization of intelligent contracts (Ethereum) or the technological progress of IOTA, with a special focus on the 4.0 industry and the Internet of Things, new application examples have emerged that go far beyond relatively simple applications, such as the Bitcoin payment method.
The debates on blockchain technology are similar to the 1993 Internet debates.
The technology of block chains, bitcoins, and networks is scattered like big experiments. If we look at the possibilities of these technologies in detail, we can say that this is a tidal wave with unpredictable potential.
Discussions and premature media applications coincide with the 1993 Internet dispute – except that technological progress, which lasted more than ten years in the 1990s, ends later this year.
Bitcoin is the first and simplest example of block technology for simple applications – in this case, the digital unregulated world currency. This allows you to send values? All over the world without intermediaries and only outside the system, no valuation or suspension of transactions.
Who benefits in the world from this technology?
So far, it can be said that there have usually been no losers, but only winners. Where the daily press sees “cracking” or even frequent “collapse”, chart analysts and asset managers see a healthy price correction after the previous rally. Like a real stock exchange, you can lose money, so basic education is important before investing in an unregulated industry.
Everyone who has been working with this technology for some time has benefited from the investments, especially in the form of money. Ultimately, however, decentralized networks will benefit society as a whole, both for people and companies. Processes can be displayed and presented in a much more efficient, transparent, cost-effective and secure manner.
DLT’s potential is far from being exhausted and cannot even be assumed at this stage. After all, we are all part of something big, something from which the emerging countries and the developing world are also benefiting.
Banks and chain hoist the modern Nokia trap!
At least last year, the big banks will have to deal with this issue. Not to be underestimated is the danger that one could otherwise touch the “Nokia trap”, not to be underestimated: Nokia’s CEO was convinced that the Apple-designed touch screen would not dominate the smartphone and the phone’s keyboard. The devastating effects are known in this case.
The blockade of the technology with its decentralized networks without attacks from intermediaries, of course, the core business of all banks, so that one can see that many banks are thinking about restructuring their business model. They are increasingly becoming service providers. In future, transfers will no longer be made via a transfer voucher at the cash desk. Everything is handled digitally.
Given that the technology is still in its infancy and still faces many obstacles, there is no need to worry about disrupting the entire banking system at the right time. However, the banking world is likely to change and accelerate significantly.
Too high energy consumption: Critical coal mining
The extraction of Cryptocuri currency is often a question of Cryptocuri. Many experts are against scrapping and do not believe in the future. Mining is proving unsustainable because a lot of energy is needed. That’s why I think it’s inappropriate for the masses.
The idea of decentralization is also worrying – a large number of mining areas in China and only a handful of miners controlling the network. The only ones who can benefit from this income are those who are very close to chip manufacturers. Bitcoin is considered to be the first, pioneer and pioneer of revolutionary technology.
However, there are already many projects that do not have to be implemented. For example, IOTA was not developed as a cryptographic currency, but as a protocol for the Internet of Things (IoT). Thanks to IOTA, micro-transactions between the individual IoT devices are to be switched on quickly. In this way, a blockchain quickly reaches its limits in a large number of transactions. That’s why everything is arranged with the so-called Tangla. Promising scalability (fast transactions with increasing numbers of participants) and free transactions make IOTA an exciting DLT project.
Therefore, it is more likely that Bitcoin in its current form will be considered”digital gold”. This is a great way to preserve values and send them around the world in a short time. Today, Bitcoin is a completely unreasonable form of payment in daily use.
Nevertheless, Bitcoin’s long-term goal is to become a kind of digital currency in the world. However, this technology must be significantly improved to reduce and accelerate transaction costs.
Price fluctuations for bitcoins
Anyone who has been involved in coinage for a long time knows the main price fluctuations and is used to them. It’s not so easy to shock someone. However, those who are unable to cope with such fluctuations should not be involved in risky investments. Nevertheless, it can be assumed that this high volatility will decrease over a long period of time and that prices will stabilize.
Last year, Bitcoin experienced an astonishing price explosion. The value of the bitcoins rose by 1200 percent in 2017, and now it was as much as 20 times higher than on 1 January 2017, and now suddenly a lot of money in the hands of mainly young computers. This makes investors, companies and private investors in unorganized capital markets nervous. No one can say for sure where this road will lead and where we will be at the end of 2018 or even in five years’ time.
Recently it was reported that China and South Korea want to regulate the cryptographic trade. Such declarations have been around for years and even if these projects were implemented, it would not mean the end of Bitcoin. Countries would also benefit from the new technology. For example, all contributions that pass through the block string are always comprehensible and transparent.
Today’s problem is how to solve it. Governments do not know enough about the opportunities and therefore regard them as a threat. They do not see the opportunities offered by this revolutionary technology. The concept of currency crypto is something that was invented throughout the industry. It is also partly confusing because not every DLT project is a currency.
Many chips are digital actions that represent part or part of a project. There are really many interesting projects in this area.