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Review on Bitcoin by Thanh Tran
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
- With the lightning network and much lesser fees compared to last year, I think there is an improvement when it comes to bitcoin as a currency but if and only if the time comes that bitcoins supply limit will be reached and the demand to acquire bitcoin increases then I do believe bitcoin at this very moment in time will never be used as a currency but just an investment vehicle or a store of value because I'm pretty sure the value of bitcoin will skyrocket.
Cons
- high transaction costs.
