Do you think that the BITCOIN can present a danger...?
That´s not true.. are also the Alt-coins, which also must reach certain height in its capitalization. RIPPLE.
RIPPLE is the of the same name digital coin and the company which is engaged in development in the sphere of cross-border payments for world banks..
And what is the confusing with this Crypto...!! Everything is simple, Ripple is made bankers for bankers and the thing more amazing is that it is not even a blockchain.
Ripple is a centralized system, it is the case more interesting... Could even enter the crypto world this project..?
BITCOIN THE KILLER OF HUMANITY....!!!!
Even yesterday we didn´t know which were the bitcoin on the Crypto-coins and Blockchain, but today the world is changing and does so fast that not everyone will have the time to understand and accept these changes, increasingly more often heard from news, internet, acquaintances and other people that the price of Bitcoin has increased several times.
The crypto-coins continue to grow, but the majority of the people still do not realize that the financial system and the whole world are changing right now.
And those who believe that they know everything, may be wrong.
One important thing is to always have the correct information and the correct understanding of things that happen, because tomorrow in a new world can not find a place to fit.
This information not only will open your ayes to people who do not know about Bitcoin, Alt-coin and Blockchain, but also open the eyes those who already are immerse with the world of the crypto-coins.
Nothing is as simple as it seems..!!!
The bitcoin can rid the world of the financial system and banks but can also destroy them.
-----2008--- Was 2008 a group of anonymous people, a person was hiding under the pseudonym Satoshi Nakamoto public a document under the name ººººwhite-paperºººº which termed the technology and the principles of the functioning of the Bitcoin. That same year was registered the domain bitcoin.org and was published the first articles.
Fans and evangelists of the bitcoin already had appeared, people who believe in the idea and the technology of Bitcoin in the blockchain basic, At the time Bitcoin was the value of the future completely safe and anonymous, he could be used without intermediaries such as banks and not be controller with supervisory authorities or other individuals.
But the main feature of the Bitcoin is that no it belongs to nobody, people thought if they still thinking in that way.
But here we can learn among other things that people can´t imagine, In what Bitcoin could transform our ordinary world may not be so bright and wonderful.
The Bitcoin can leave the world backwards in a way that no world war could, In 2009 the Bitcoin exchange rate was 700 or 1600 Bitcoin for every dollar.
At the end of 2017 a single Bitcoin Worth 20000 thousands dollars, the exchange rate increase 32000 times, It is a fantastic grow, And the bitcoin is continues growing up, each new brand psychology is reached more and more fast and soon we will see the cost of a Bitcoin at 50000 thousands dollars, 100000, 200000 and perhaps until a 1000000 million of dollars.
Why Bitcoin and other Crypt-coins continue grow up..? The answer is simple, because the root of the majority of the Crypto-coins this technology Blockchain. It is a chain of blocks, each block safe information about addresses, transactions. And the same structure is completely decentralized.
Decentralization is the key word....!!! when servers that ensure certain Crypto-coins do not belong to a circle of people, there are a hundreds of thousands of computers and each one contains a complete base of the Blockchain of the Bitcoin, Full history of transactions, account balance and other things.
All transactions in the network can be tracked until the first. And this is how we obtain the transparency of information from the all users.
To change any data in the network of the Bitcoin to hack, You must change the information in 100000 servers, in which owners are regular users and miners.
Mining is a method to extract Bitcoins, when you provide computational information from your computer to ensure the proper operation of the network, by doing so it rewards you with Bitcoins, but it is not as simple as it seems, while most servers are on the network, less receive award..
There is a whole industry around the Bitcoin and others Crypto-coins, before you could undermine in any computer, when the entire network was small and the Bitcoin recently had gone, but now there are special computers.
Mining companies whose sole purpose is the mining, computational power is not compared with a normal computer. That´s why do mining in your computer common has completely lost the sense, some Crypto-coins are mined with video cards that also made a leap in the development of this industry and to the shortage of equipment..
Now have a private return without making large investments in teams, it is no longer profitable, individual miners were replaced by the mining pools. Whole buildings with servers that generate enormous computational power and investments in these projects amount to million of dollars. So, We can therefore see as independent private mining and the basis of honesty and reliability of the grid step of bitcoin into the hands of the huge pools of mining.
most people make money when buying the generally correct decision to buy some kind of crypto-currency, whose growth can be equal to 500 or 1000% in a single month and sometimes more, but not so great, some crypto- coins may fall, but in very rare cases now, and even crypto-currencies with collapsed value will eventually grow and re-establish their base price.
A common interest of the world in the investments in crypto-coins helps the growth of everything that is connected to the crypto-coins and blockchain, in the past years the bitcoin had been developed exclusively by a small group of people who believed in their expectations and technologies.
In 2015 bitcoin began to appear in the wider communities, and in 2017 there was a significant jump in popularity and growth, not only with bitcoin, but also with other crypto-coins called Alt-coins.
The community of crypto-coins has grown, there are more and more developers and specialists in blockchain technology, cryptography and decentralization. The bitcoin had its disadvantages, even in 2014 the bitcoin technologies were obsolete, which with the growth of its popularity affected an inadequate network takeoff capacity.
In December of 2017 if you send a bitcoin to another address, the confirmation of the transaction can be delayed 24 hours or even more.
The new crypto-coins began to appear, as for example Ethereum, which was supported by the crypto-coin community as a way to raise funds for development and promotion through the ICO.
Also a recent concept, the first buyers of the Ethereum tokens also increased their investments by dozens of hundreds of times as the cost increase and capitalization of the Ethereum.
THE BLOCKCHAIN AND CRYPTOCURRENCY.
As mentioned above due to the bitcoin blockchain technology began its penetration to our normal life, it is important to understand that the creation of crypto-coins like bitcoin and others, by far is not the only application of the blockchain.
In 2015, the Ethereum network was launched, which brought more modern blockchain technologies and a new understanding of intelligent contracts.
The Ethereum was already a more advanced blockchain in which not only Token S transactions are carried out, but also the launch and processing of intelligent contracts, and the creation of customized tokens for side projects, intelligent contracts are a new direction that arose with the development of the blockchain.
Imagine a smart digital contract that includes all the terms of a transaction and nobody can change them, for example ..: You created an intelligent contract to sell a house, you programmed the necessary terms using that contract you need to create for it, in this case it is sale of a house. The buyer adds the address of the intelligent contract, the equivalent amount in crypto-coins and there reviews the contract to see the updates in the public registry of real estate every 24 hours and then it will appear information that your house is registered for the buyer, the Smart contract will transfer the total amount of money to your account, if this information does not appear in the registry within a month, the smart contract will return the crypto-currency to the buyer ....
It is the simplest example that allows us to understand that there is a huge future in the blockchain, it is the technology that will help practically get rid of the fraud and the deseptions of so many citizens as the authorities, the migration of public services, private companies and others in blockchain offer not only transparency but also protection and guarantee, because the information in blockchain practically can not be changed without leaving traces.
For example .... :: Someone decided to appropriate your property let's say a piece of land, to do it using bribes and corrupt schemes in a real register of properties and lands of your government they replaced you with the new owner and your information was completely erased as if the land had never been yours. In this case practically you do not have how to prove otherwise, until the trials begin and your land will be resold many times and eventually it will be in vain.
But if this real register of properties and land is in the blockchain technology where the information can not be eliminated or changed without leaving traces, this way of appropriation will disappear.
If new information appears of the new owner of this land in the blockchain, all the previous information will follow also, tens or even hundreds of cases can be quoted like that, the blockchain is needed for most of the daily processes, from taxi services, to public companies and banks, since the beginning of the blockchain recently began to enter a new stage, and more companies are considering implementing the blockchain in their processes.
The blockchain and the crypto-currencies are currently similar to the internet in 1993, the most interesting has not yet arrived, and the important thing now is to begin to understand everything and if it is possible to be part of it, but each medal has two sides, and as we look in detail at all the theories of two of the largest crypto-currencies of the capitalization.
Bitcoin with 209 million dollars and Ripple with a capitalization of 120 million dollars on January 6, 2018, the total capitalization of all currencies today is equivalent to more than 800 billion dollars, and that is only a drop in the sea. According to the analysts the capitalization for 2022 will increase to 20 or 30 trillion dollars, including all the blockchain companies.
It is a huge market of rapid growth, if the internet needs 25 years to reach the current level, the blockchain industry and the crypto-currencies need only 5 or 8 years to achieve it, the blockchain can not stop its growth, the world community does not will allow it and we normal people must do everything to defend this technology.
In the right hands will offer total benefits, which will make the world a fairer place, all interactions between people, governments, companies, both external and internal will be much more transparent and all information or registered transaction will be irreversible.
But first we must learn to differentiate crypto-currencies from blockchain companies, remember the most important thing is total decentralization, nobody can and nobody should have the opportunity to make changes in information or transactions.
The decentralization is achieved through the distribution of servers that conserve and process the information, and the less the owners of servers are related to each other with personal or other relationships, the better it is for decentralization.
But sadly when the implementation of technology occurs so quickly and the first branch as the crypto-coins are put in the first place, many new companies use it ignoring totally the subtleties of technology, deceiving people hiding the dangers and risks. Now you know more about the blockchain and the crypto-coins and this will allow you to understand the next part. Now I'll explain why Bitcoin and Ripple are dangerous.
BITCOIN IS THE KILLER OF HUMANITY
The bitcoin is wonderful, the technology on which it was created even better, but everything that is happening now we owe it totally to bitcoin, but we must understand that bitcoin is not just a technology, bitcoin accumulates a huge amount of money for yes, it practically became a digital gold as many call it now, in the past people bought gold and gold itself provided another currency to different countries, but not anymore.
Now there is not a country that still reinforces its currencies with international reserves, which made the creation of the world's main currency, the infinite American dollar.
The printers of the federal reserve continue printing new dollars without stopping by when the American banks receive new digital credit appear new amounts, which put in the credits of some companies of people. This is how the galloping inflation happens.
You can not start saving in dollars because they lose value, you have to take credit and buy something because you can not save money to buy the world's printing, the bitcoin and other crypto-coins began to fight against this.
In bitcoin a total of 21 million coins can be mined for the year 2140 and right now there are only 16 million dollars mined, if on date one the bitcoin is worth 17,000 dollars that means you can not buy bitcoins that equals 1, this was devised from the beggining.
A bitcoin is divided into multiple units called satoshi, satoshi is the minimum value and is equivalent to one hundred million bitcoin, this means that you can buy a bitcoin part for up to 100 dollars, the complexity of the extraction increases, the pools of Mining is growing, which is bad for the ecology and is an unnecessary waste of electricity. The bitcoin does not need such computational power to process transactions, the vast majority are subject to the resolution of mathematical challenges for which the mines receive their prizes, the complexity of the challenges grows along with the number of miners, that partially increases the price of the bitcoin, eventually we have a currency that nobody controls and that is increasing in price. As of January 6, 2018 it cost $ 17,000 for one currency, and according to studies for 2022 the price of bitcoin will not be less than 100 or 200 thousand dollars. And everything started when the price of bitcoin was less than a penny.
When bitcoin passes the psychological marks its price increases intensively as when I pass the 1000 thousand dollars, then 10000 thousand dollars, etcetera.
Nobody can stop transactions in the bitcoin network and other crypto-currencies, nobody can affect the integrity of the information in your account, block it or do something else, that's how it is assumed that everything is fine. But there are great concerns and we will see it in a logical way through major moments.
FIRST DANGER ...
As we can remember the creator of the bitcoin a man or group of people under the name of Satoshi Nakamoto launched the bitcoin network for the first time, to test and review it were mined about 7 percent of all bitcoins of the moment, it is simply a huge amount , until now it is more than 20 billion dollars, and by 2050 this 7% will be approximately 5 or 10 billion dollars, if the money is not calculated in reverse, the price of that dollar will be estimated in bitcoins. And that can happen even if it sounds funny today.
In 2010 a man who bought a pizza from 10 thousand bitcoins would laugh too if he had heard that in 2018 it would be equivalent to 150 million dollars, but anyway it happened.
Ask your trader or economist, what would happen if you put 7% of all the bitcoins in a change of crypto-currencies in a day, we would witness that so fast it would not only collapse the value of the bitcoin, but of all the other crypto -coins too, the value can fall several hundred times and cause a catastrophe in the world that would be so great that most financial organizations, retailers and others would have to stop all exchange operations, basically the world economy would stop by One or two days, markets, pharmacies, no one could accept payments because yesterday we bought products at prices 100 times higher, everyone would expect explanations that would not arrive very quickly, it would be such a crisis, a wave of chaos which the world would never have viewed.
People will not have other option but to enter the markets and pharmacies to look for the necessary products, it will be a good benefit for the poor and they will scratch and steal not only markets and pharmacies, but everything they find along the way, the touches and what we saw in the movies about future apocalypses could happen in real life. Imagine it.
And what are the chances of this happening, quite large, imagine that you have a room in your house full from floor to ceiling with 100 dollar bills, and that if you open the door the flow of money flies, and you have lived in this house for 9 years now, and in these 9 years you have passed outside this room without touching a single dollar, do you think a person can handle it? Almost nobody could.
This is how Satoshi Nakamoto would look if he was a person, since 2009 there have been no transactions from the Nakamoto account, not even a bitcoin has been spent, except for small parts that were spent to test the systems in the beginning.
It is impossible for a normal person, then who can do that? Maybe a group of people, maybe a person, but whoever it is is not motivated by money and wealth.
These people are united by an incredible goal, for which they are willing to give up billions of dollars and wait for more than 10 years, everything seems a scenario of a Hollywood movie, a thriller where a group of programmers create a new digital financial system and wait a moment and ruin the world economy, starting a wave of looting and chaos in which the whole world is left around, and becomes something new ... But in what?
We can not even imagine it, but the goals pursued by this group raise serious suspicions, and we must understand it and try to prevent this scenario from happening. How can we do it.? it's simple, a steep increase of bitcoin in its capilatization should not be allowed, until you know who exactly is this Satoshi Nakamoto.
If you are a normal person, you would have to send the vast majority of your bitcoins to your wallet, from which it becomes impossible to make more transactions, basically you should destroy most of your bitcoins, the danger of such scenario would disappear but it seems unlikely that Satoshi Nakamoto go appear and do it. It takes 9 years this man or group waiting for something and have not touched their bitcoins.
SECOND DANGER ....
We believed that bitcoin would destroy the existing financial system, in which 50% of all the wealth of the world is in the hands of 1% of the population, but now we will see that 40% of all bitcoins belong to only 1000 people .
So what is the difference between the new digital gold, and the current financial system, it seems that there is no difference, it is the same unequal distribution, even more unjust than the current one.
A THIRD DANGER ....
The third danger is related to mining, in the bitcoin blockchain network there is an algorithm that allows making changes in transactions, in transaction histories, in account balances and other things, as is possible. It is possible if someone has control over 51% of the servers in the bitcoin network, you would say that it is not real, which is one of the main advantages of blockchain and bitcoin. But it is not so, when the bitcoin had just been created it was vital to create new servers with volunteers, who should be rewarded with something to exploit the power of their computers and that is how mining was created.
Mining was initially established in the bitcoin algorithm, and it was not until 2140 that the complexity of mining increased every certain period of time, and the more servers there are, the lower the chances of being rewarded for the challenge.
At the beginning the bitcoin network was made up of enthusiasts who offered their computers almost free of charge when the cost of a bitcoin was less than a penny, then with the growth of bitcoin came the professional miners, then the mining pools, where have joined the miners, there the manufacturers of mining equipment that created systems with the ability to solve the problems of the bitcoin network more quickly than any other computer no matter how powerful it was, then the opportunity to support the network of bitcoin and mining from a normal computer disappeared.
Mining is a process very thirsty for power, to accommodate large mines, there must be very varable and accessible equipment, as well as a very good climate region.
The equipment for mining produces enormous quantities of heat, which must be adsorbed, in which countries you think the main powers of the miners are found. It is in China.
1- CHINA -------------------------------- 81%
2- ICELAND ---------------------------- 5%
3- JAPAN -------------------------------- 3%
4- CZECH REPUBLIC ------------------- 3%
5- GEORGIA ----------------------------- 2%
6- INDIA ----------------------------------- 2%
As we can see, China is the absolute leader, all the powers of the bitcoin network are located in a single country, which makes the connection between the owners very close, causes great concerns.
If 51% of the owners meet, they can make any changes to the bitcoin network.
The mining pools already have brands and names, they have known about the existence of others for a long time and probably even communicate with each other.
The main computational powers of the bitcoin network belong to only 4 mining pools, which is 51%, if these pools join or conspire to do whatever they want with the bitcoin, when the idea of the network was initially created of the bitcoin, surely this scenario was not taken into account, by design the bitcoin network would have to have been distributed around the world among small independent miners. But this took another direction.
Mining is a huge business which crossed the line of billions of dollars, in the new crypto-coins this mining system is not necessary, there are developed projects that are safer and cheaper, where the role of the miner is not so important, and there is no need for high electricity consumption, and the bitcoin network already consumes electricity equal to that of a city with a population equivalent to 1 million people, another aspect is a rapid aging of the mining equipment, it is the race endless.
Even yesterday those miners who buy, tomorrow will be irrelevant with the emergence of new, we saw the main dangers that can cause bitcoin, but what we do to avoid them. everything is simple and difficult at the same time, the community of crypto-coins should not increase the price of bitcoin than it is. We think that 50 to 70 thousand dollars is a reasonable limit for bitcoin and safe enough for the crypto-currency market, because if someone is trying to pull down the bitcoin. All ALT-COINS will fall with it. we must evaluate the situation and not elevate it to certain heights that could be dangerous, there are more positive scenarios that I want to talk about too.
ALTCOINS AND ICO
Do you think that the BITCOIN can present a danger ...?
That's not true .. are also the Alt-coins, which also must reach certain height in its capitalization. RIPPLE.
RIPPLE is the same name digital coin and the company which is engaged in development in the sphere of cross-border payments for world banks ..
And what is the confusing with this Crypto ... !! Everything is simple, Ripple is made bankers for bankers and the thing that is amazing is that it is not even a blockchain.
Ripple is a centralized system, it is the case more interesting ... Could even enter the crypto world this project ..?
If the network is not decentralized then all the controls of the assets, functions and everything are totally in the hands of the owners and founders, another factor much more worrying is that 60% of all the coins released from RIPPLE are changed in the crypto -changes to 40% and the majority is left by the owners, you have heard talk followed by the bust of the crypto-coins. RIPPLE is something like common fiat money, like dollars that can be printed without end and without control and everything is handled by a group of people, the second worrying factor is that the newcomers in a world of crypto-currencies have not I learned even how to differentiate the real crypto-currencies from something like RIPPLE. And they react exaggeratedly whenever there is new information that considerably increases the capitalization of RIPPLE, Ripple is in second place of capitalization of the qualification of crypto-coins, just after the bitcoin, 120 billion opposed to 240 billion, is a trend very worrying, and we hope that common sense prevails, and that such projects never reach so high, because that bourgeoisie can be created for pleasure. That at the moment they need it banks throw down the whole world of crypto-coins.
We have all heard about huge profits in investments with crypto-currencies but the newcomers see the investments in the leading crypto-currencies that are already in the highest heights that do not grow as much as the investors would like, the blockchain technology needs development, which There are a number of useful projects, which launch the development of blockchain technologies to implement in the real world, the whole community of crypto-currencies crave that the time comes when the blockchain begins to be implemented in our daily lives. And that trend is also provided by ICO.
This is a new meaning that appeared recently, one of the largest ICO was Ethereum, which we previously mentioned, ICO Initial Coin Ofering. Groups of developers and companies need funds to create and realize their ideas, generally related to the development of blockchain and crypto-coins, is the first stage in which the currencies of a new potential project can be purchased at the lowest prices, the project collects the necessary amount with the help of private investors and investment funds, the development of the project begins, and the coins released in ICO begin to appear in the changes of crypto-coins, then depending on the project the price of the coins increases , the most surprising growth after ICO was with the coins of the STRATIS project, which increased a fantastic 150.082% in just one year. If 1000 thousand dollars were invested in STRATIS during ICO then in a year your investment of 1000 thousand dollars would have generated a surprising amount of 1,500,000 million and a half dollars, but it is important to be vigilant. This kind of crazy success examples are popular among frauds.
Projects created for the purpose of creating funds or those ideas are impossible to achieve, those are scams.
It is an advantage that the crypto-currency community consists of a large number of professionals and those projects are identified quickly, even before the fundraising stage, remember that not all crypto-coins grow after the ICO, generally the growth It happens to the projects that they serve, that is why you should think carefully about which project you want to invest, if you are delighted with amazing success stories in investments of crypto-coins, remember that each case of success can be a case of failure.
In 2018 there are more and more projects that connect normal life with blockchain technologies, for example the ICO ARM-PACK project, It offers to free our world of product fakes when using the blockchain, it also offers an application for the cell phone which is useful, which you can use to pay for your products with a crypto-currency, store different crypto-currencies, check the originality of the products, get discounts and participate in promotions of your favorite brands.
ARM-PACK will develop blockchain-based logistics services for companies, better marketing opportunities for communication with its customers and also the use of the ARM-PACK blockchain network for any company to accelerate the implementation of the technology to all the processes of business.
Imagine that using the application for the cell phone called ARM-WALLET you will have the opportunity to review the originality of any product, and just after seeing the information as it should be, due date, chain of distribution, contact of the manufacturer, number of inspections of this product, give a comment and contact the manufacturer, and the manufacturer itself can reward you with a crypto-currency for your purchase, and all processes are combined and interrelated with a blockchain ecosystem that is controlled with smart contracts that offer a hundred percent protection against fraud and deseptions, unfortunately there are only a couple of similar projects, but we see that the market is tight and that the use of the blockchain is the future.
How to save and develop other crypto-coins and blockchain, no crypto-currency should have a great domain, the list of the 50 best crypto-coins should be constituted according to the capitalization, there should not be any type of crypto-currency individual, whose capitalization is 10, 20, 30% or more of the capitalization of all the crypto-coins, if this continues we will have the same dollar and absolute inequality, while only one will dominate the whole world, it does not have to be that way , and all the participants of the crypto-currency community have to understand it, the market will be safe and will be in continuous growth, so there will not be a strong and dangerous dominance.
Do not let the banks penetrate this world too....
Do not let the banks penetrate this world too, the worst enemy of the crypto-coins and the blockchain, is our financial system, which has been failing for years, and I hope that together we can create a new, more honest and just world where the people do not depend on banks, governments or other mediators.
