Bitcoin Currency Part 6

Show me the money. Where the money is there, it follows Wall Street; and cryptovalutor is no exception. The New York Stock Exchange recently filed an application from the SEC for the permission to launch two Stock Exchange Funds, ETFs, which will shadow bitcoin futures and give investors the opportunity to both shine and invest in the cryptovalutan without direct ownership, reported Business Insider.

 

How do I get bitcoins? Or is everything just a big "scam"?

Gold rush or bankruptcy? When it comes to criticism, Bitcoin's fate in 2018 depends on the willingness of private investors to deposit money in good faith - no matter what question. Why scrape a return of 3 percent on boring stock companies when you can get home 1500 percent in a month? At the same time, the risk seems to be as big as everything collapses and it becomes a "cryptovinter", as Jeff Garzik, an early bitcoin pioneer, recently predicted Dagens Industri.

 

Trading platforms such as Coinbase, eToro and Gemini are becoming increasingly popular when the hype takes place. The Bitcoin fever went to Sweden this fall, when the company XBT Providers bitcoin certificate in December was among the most traded securities of Avanza and Nordnet. Now about 40,000 Swedish-owned bitcoins are valued at around SEK 2 billion, according to Claes Hemberg, Savings Economist at Avanza.

 

How does crypto currencies work:

The key building blocks in bitcoin and other crypto currencies are that they are decentralized, anonymous and without transaction costs (the latter has been attacked this year). All builds are based on the blockchain technique, or the block chain - a digital logbook that records each transaction in a long chain of code, which in turn consists of encrypted blocks.

 

When bitcoin changes owner, a traceable "record" is created that cannot be changed afterwards. Satoshi Nakamoto's great genius is believed to be in the fact that he with the block chain solved the "double spending" issue, that is, the same bitcoin cannot be spent twice.

 

In addition, Nakamoto limited the proportion of bitcoins to 21 million, and created smart incentives for programmers to recover - and rewarded with - bitcoins by solving algorithms through so-called 'proof of work'. At the moment, the proportion of bitcoins is halved according to a fixed schedule, which causes the last coin to be recovered in 2140. This system, with a fixed number of coins, has made it possible to cryptically speak of a 'digital gold' - an alternative way of storing value (given that enough people really give value to bitcoin).