For many people, investing in Bitcoin has now become a bad idea.
Many are thinking that the Bitcoin is meant to disappear, but why?
Here are some facts.
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It is hard to determine what will become the bitcoin in the future.
However when one looks at that more closely, there are several good reasons to think that the bitcoin will have difficulties to survive.
As you know the bitcoin was created by Satoshi Nakamoto but nobody really knows who it is.
As soon as the services of investigation started to seek him he quite simply disappeared.
His true identity remains a mystery. Now coders and minors must arrive at a concensus everytime they make a decision concerning the future of the bitcoin.
Most others cryptomonnaies has leaders to guide them.
Vitalik Butterin is the creator of Ethereum and Garlinghouse, ex student of Harvard is the chairman of Ripple.
They both have a seat within the community of Bitcoin because there is no leader to represent it.
In California, much of companies of Silicon Valley agree to be paid in Bitcoin but the largest ones still only accept credit cards or cash.
Unless one can buy or sell products at the larger companies with the bitcoin there is no interest to its since the blockchain can exist without the bitcoin.
The newspaper of the governmental financial management (US Treasury Official) states that blockchains can really help the financial situation but they need more users before that succeeds.
For the moment the only digital currency which really functions comes from the Ripple company which could work with large corporations, banks and companies of credit cards.
Ripple will proceed even soon to the financial transactions of American Express.
The Ripple company has its own cryptocurrecy called XRP.
All the cases of use of the blockchain become real due to Ripple and not to Bitcoin.
Besides, Bill Gates announced in 2017 that he chose Ripple in his project which has for plan to decrease poverty in the countries in the process of development.
THE BLOCKCHAIN SUPERIOR THAN THE BITCOIN
What's good with Bitcoin is that it introduces the concept of the blockchain to the whole world.
The blockchain drastically improved the speed, the intimacy and the security of the transfer of money. Bitcoin can be transferred from a person to another without intermediary.
The identity of all is preserved in the form of a succession of letters and numbers which one calls wallet.
The blockchain is really important, it will change technology and will undoubtedly become as imposing as Internet.
For the moment the blockchain is still young and exciting.
As we said earlier, if the concepts of blockchain were introduced thanks to the bitcoin, the existence of this last is not essential to the wellbeing of the blockchain.
To demonstrate, it would be a little as if a page Internet had suddenly disappeared, that would not change anything with Internet which would continue to exist as we know it.
Most users of Internet never saw the very first website to be created. It was a simple white page whose title was “World Wide Web”.
Nobody could have imagined that this page which did not have anything impressive would evolve into the Internet we all know today.
There are versions of the blockchain larger, better and faster which improved original Bitcoin like Ethereum and Ripple.
These currencies are already available on the market.
BIG BROTHER IS WATCHING YOU
Bitcoin is privet, made safe and intraçable. Therefore it is an advantage for the criminals of the darkweb. In 2013, 44% of Bitcoins belonged to people identified as being libertarians. Today there are more new investors and this percentage has decreased.
What these new users do not understand, is that, even if their identities are protected and appear in the forms of numbers and letters on the public register, they are not completely anonymous.
Most sites of Bitcoin exchanges, as Coinbase, require the users to download a photograph like a selfie to prove that they are who they say being. They will keep your name, your address and your phone number during 5 years and will be able to give all this informations to the authorities. The FBI was very clea on the subject, it supervises Bitcoin very close and manager always better to find the identity of the users who use Bitoin illegally. They are well aware though that all those who use the bitcoin are not criminals.
TIMES AND PROBLEMS OF EXPLOITATION
The more Bitcoin remains, the more difficult it is to undermine or create new currencies.
However, without the minors, the blows of Bitcoin fall. The costs to be a minor outreach normal people. The principal minors are enormous warehouses in China.
In the majority of the countries the cost of electricity to make function these computers costs more than the value of the digital currencies. It' S not even worth it to try.
The more the bitcoin will remain, the more the computers will spend time to process the data.
Currently official time for a transfer of bitcoin is of 1 hour, but we know all that is not true. The transactions can take until 6 hours because the average is of 15 transactions a second.
Nothing makes it possible to say that will improve, in fact, that is rather likely to worsen.
On the other hand the mean velocity of the transaction of currency XRP of Ripple is of 1500 transactions per second. Ripple has the technology and infrastructures necessary so that this rhythm never slows down.
With the digital surface where people do not even want to lose one second, it is frightening to note that people starting to understand the concept of the blockchain will gently turn into a cryptocurrency as slow as is Bitcoin, whereas others carry out transfers very quickly.
WILL THE REAL BITCOIN REMAIN?
Since the creator of Bitcoin, does not give any more signs of life, the coders gave up the documentation which it had left behind him.
Many people think that in order for Bitcoin to survive, one would need a massive displacement towards a faster and more reliable platform.
The developers found a solution: the bitcoin cash.
But how would that solve the problem? Therefore was made another very disputed plan in order to create Bitcoin Gold.
This plan known under the name of Segwit2x was cancelled and that caused an important rise in the price of Bitcoin.
In 2017 the amount of Bitcoin that Satacho Nakamochi has raises to million dollars but he said clearly that he was finished with this project.
THE END OF THE WORLD SUCH AS WE KNOW IT
The fans of Bitcoin are partly revolutionists, some hope that people will turn to Bitcoin instead of the traditional banking stystème.
Michael Lewis author of the Monneyball went to meet these revolutionists to the Silicon Valley thinking that could make a reliable subject for a book and he had the feeling that Bitcoin was going to disappear. He wrote several books on this subject, do not hesitate to go check it out for further informations.
So that the revolutionists have what they want, meaning thatpeople leave the traditional banks, the worldwide economy as one know it today should crumble. Millions of people could lose their work, their house and their whole life. These revolutionists are not yet enough for that to happen.
FEAR, UNCERTAINTY AND DOUBT
The market of Bitcoin is currently very unstable, his price can fluctuate of several hundreds dollars in only a few hours.
If Bitcoin became illegal or that there were a virus or a problem in the system, the value of Bitcoin would fall drastically because the users would panic and resell their Bitcoins. It is like that for all the markets.
Many thinks that the crisis of 2008 was a prelude and that the true crisis will happen in the years to come.
With a so fuzzy vision of the future of Bitcoin, there is very few investors on whom to count, or in which to trust. For the moment most people who kept their Bitcoin were rewarded, , but that won't last long...
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