Bitcoins: essay about its features and future existence
If someone started talking about bitcoins 10 years ago, they would consider him crazy, and now this is one of the most popular crypto currencies in the world. The cost of the most popular crypto currency in the world bitcoin (bitcoin) can fall down to 4-5 thousand dollars before it returns to growth. If there is a suitable moment to take advantage of the crystal ball and look into the future, then it is now.
Does bitcoins left us? Why does everyone make money fast in bitcoins?
The possibility of quick earning of money. Very simple mechanism: people just buy coins, store their specific time and sell at a high price.
Excellence over other currencies.
Wide use. There are few people left who have never heard of this digital currency. The coin spreads all over the world at a tremendous speed.
Cryptography of digital currency
Cryptography – in simple words, it’s encryption. Encryption allows you to store private information and secure communication between users. For example, there are such types of encryption as:
- Encryption with a symmetric key allows you to use one key for encryption and decryption;
- Encryption with an asymmetric key allows the public key to encrypt the message and decrypt it with the corresponding private key.
Bitcoins future: 2018 and so on
Researchers say in their forecasts that eventually everything will change. For example, the bitcoins wallet login will become more complex and create it will not be a matter of two minutes. Cryptography allows you to store data from bitcoins and wallets. In bitcoin, two types of cryptography are used:
- The first view allows you to create a message profile, that is, a hash. In digital currency, this type is used at different levels;
- The second kind is needed to create and verify an electronic signature. And pairs of different keys are used for verification and creation.
So far, there is not a bit of bitcoin and you are beginning to regret it? Create your purse of the bitcoins now. To choose the most reliable, we recommend reading the article “Rating of the best purses for crypto-currency.
The appearance and growth of the coin’s exchange led to the creation of alternatives to bitcoin-altcoins. Most of them try to replace or improve this cryptonym. Some are created in the source code of bitcoin, while others are created by significant changes in the source code. In simple terms, altcoins can replace bitcoin if it becomes unnecessary for society. Coins are issued that have significant superiority over bitcoin.
There are many altcoins, but the most popular and successful ones are:
- Takes second place after bitcoin and is “virtual silver”. The number of coins issued is limited to 84 million;
- Some believe that he is able to outrun bitcoin. The functions of this crypto currency are not used only for making payments. Technology can be used to register transactions;
- In contrast, bitcoin provides complete confidentiality of payments.
Let’s go back to the bitcoin course, or rather, to its very high cost, which will cause the currency to disappear, analysts say. For example, now 700 bitcoins are 5373928.00 US dollars.
Problems of implementation of detachment in the sphere of life
- The system needs constant complex calculations to maintain a high level of security. Large resource bases are required that will carry out these calculations;
- The system should not be under the control of a certain group, since there is a single center for hacker attacks and the owners themselves can use it for manipulation;
- The implementation of the blockade may deprive the work of most intermediaries, so they oppose the technology.
The future of bitcoin: let’s talk about the forecasts of analysts in simple words
Due to their considerable growth, digital money attracted the attention of most people interested in earnings. The constant growth of value has allowed many people to become rich. However, some banks and analysts argue that the coin will cease to exist. Who does not have time to exchange it for another currency, he will remain with nothing. Other banks and analysts say that this is a currency with a bright future ahead of them. Each side has its own arguments in favor of its decision.
Negative predictions about bitcoin. Due to the continual increase in the complexity of mining the Crypto-currency, miners may stop doing this business. The system will have no one to hold and this will have consequences. If the price of the currency is too high, then the buyers will become less and less. In the currency itself, most of these people are not interested. They need to sell it as soon as possible. If nobody buys it, then nobody will need it.
Positive predictions for the future bitcoin. How can you stop doing things that are constantly growing in price? Miners will not abandon this direction, especially if they receive support from the state. Today, the government is seriously considering the possibility of using crypto-currency with benefits for themselves and people. Its use will be able to resolve if not all, then most of the state’s problems. Recommendation: invest in bitcoin. You do not need to invest all your savings.