1 Level
6 Review
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Review on Bitcoin Diamond by Anna Johnson
The aim in creating Bitcoin was to create a completely decentralized digital…
The aim in creating Bitcoin was to create a completely decentralized digital currency that made transactions faster, cheaper, more reliable, and more private than current financial transactions. While Bitcoin did realize those aspirations, there’s no doubting that it isn’t perfect, and that changes can be made to improve on the original Bitcoin implementation.
One change that was made, and we aren’t sure what the purpose is, is that Bitcoin Diamond was created with 210 million coins. That’s 10 times as many coins as Bitcoin
Pros
- Despite all the questions surrounding the new hardfork of Bitcoin, within several days the price had shot up to $94, which was also the all-time high for Bitcoin Diamond. Since then the price has been steadily sinking, although there have been some spikes, which I’ll discuss in more detail later. The aim in creating Bitcoin was to create a completely decentralized digital currency that made transactions faster, The team behind Bitcoin Diamond also released the source code soon after the launch, as well as improving communication and becoming more active on social media
Cons
- Bitcoin Diamond shares a similarity with its parent Bitcoin, and that is in the anonymous nature of the founders. Bitcoin was created by Satoshi Nakamoto, a pseudonym for a programmer or group of programmers. Similarly, Bitcoin Diamond was created by developers using pseudonyms.
