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Review on Bitcoin by Qua Nhi
Bitcoin, the digital currency (cryptocurrency) which jumped more than 1,000…
Bitcoin, the digital currency (cryptocurrency) which jumped more than 1,000% last year, is the first user of the blockchain application. This technology eliminates the need for third-party intermediaries such as banks to quickly and safely record transactions between two parties using encryption technology.
Since the development of Bitcoin, hundreds of cryptocurrency and other blockchain projects have emerged. Supporters say blockchain can one day change the world like the internet.
bitcoin is created for the future.
Pros
- Bitcoin future will be very bright because we can see how countries are accepting bitcoin and planing to regulate, because government approval is much important for its future also many investors are taking interest for bitcoin currency because they know its value for present and future. so finally we can say government and community both are necessary for bitcoin bright future.
Cons
- Built in Deflation Since the total number of bitcoins is capped at 21 million, it will cause deflation. Each bitcoin will be worth more and more as the total number of Bitcoins maxes out. This system is designed to reward early adopters. Since each bitcoin will be valued higher with each passing day, the question of when to spend becomes important. This might cause spending surges which will cause the Bitcoin economy to fluctuate very rapidly, and unpredictably.
