My last article was about the question on when will the bitcoin bull run starts? Is it after the G20 conference which considers bitcoin not a problem with the world economy? I do think it had already started after that statement . The bitcoins value had never went down to its lowest which is about $7000 , today its $9000 in value for 1 bitcoin. It will be an optimistic year though it would be gradual increases. I do believe in what Ankar says that the downward trend of the stock market or its final collapse will again more contribute to the rise of bitcoin and other cryptos to the moon, so let's get into cryptos.
Continuing on the discussion about bitcoin and crypto's to help others who still dont understand this phenomena and establish the athmosphere or infrastructure for the cryptos let me relay to you about crypto currencies .
What are crypto- currencies ?
Thanks Video produced for Cloud In the Sky Studio for the Bank of Canada. Directed by Duncan Elms.
Bitcoin is the first crypto currency ? Crypto currencies are de - centralized
The rules on cryptos are outside of the world financial system and its on the computer
The bitcoin which is the first crypto and other cryptos are working with the blockchain technology
Blockchain is a ledger that all transactions are recorded so that no one cheats by spending the money twice
The miners all over the world verify the transactions , record the transactions on the blockchain and discover new bitcoins and also earn from them as rewards
The bitcoin network system is a permitless system where you dont have to ask permission from any authority to participate with the system
Why used bitcoin or cryptos , there are other currencies , debit cards , cash and credit cards. Some people favor a system that is not controlled by governments and also works outside of the banking system
Others regard the cryptos as a investment opportunities, like when you buy cryptos on less value and it goes up then you earn sum
Just like cash transactions there is no exchange of personal informations you can transact business anonomously online though all systems are not perfect so information outside of the blockchain can reveal the user like fraudalent use of bitcoins and cryptos are track by authorities using the blockchain
A lot of countries are now interested and eyeing to regulate bitcoin and other cyptos like Canada, US and also Asian coutnries . Cryptos are on the rise and its still a new story which is still unfolding,
Let's be involve with the cryptos , let us be part of the history NOW !!!
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