What is the strength of Bitcoin and cryptocurrency? Top 4 advantages of an expert

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2018-11-06 03:30:07

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What is the strength of Bitcoin and cryptocurrency? Top 4 advantages of an expert Source:

spoke to the audience on the World Crypto Conference and talked about how that creates value cryptocurrency. According to Lee, before we exchanged chickens and cows because they benefited, but in the end still went to the monetary system. Now we exchange paper money and gold value. The primary value of gold lays in Whether its scarce nature and physical properties, not that it just looks cool.

On the other hand, Bitcoin has no physical properties, and own no one in fact can't. We only have to get the private key that will allow access to the individual particles of all bitcoins. The same applies to other cryptocurrencies.

Bitcoin is therefore called digital gold. These properties form its value. Case reliability

the

4 main properties of Bitcoin

    the
  1. first, Charlie Lee believes that Fiat money is centralized and the government fully controls them. While bitcoins can be sent to anyone anywhere in the world. The government does not prevent this because the Bitcoin is decentralized.
  2. the
  3. Second the main feature of Bitcoin according to Whether the irreversible nature of transactions in the blockchain. That is, the inability to substitute or cancel has already been done.
  4. the
  5. Third property is expressed that really not equal to zero. In the production of cryptocurrencies mechanisms are used proof of work mining and competitive, and it imposes certain costs. If this was free, everyone would be able to make yourself as many bitcoins.
  6. the
  7. Fourth factor value is the constant devaluation of Fiat currency, which is impossible in the Bitcoin ecosystem. His number is strictly limited to wallpapera. And price creates only the supply and demand. If someone wish to change the final offer bitcoins will be 21 million , it will have to obtain the consent of all users of the network. Which, of course, is not possible.

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