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DERCRAFT

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  1. The future of cryptocurrencies After the rapid growth of interest in cryptocurrency in 2014-17, today it has fallen sharply. This can be seen from the statistics of the leading channels in popular social networks that are dedicated to this topic. And the depreciation of bitcoin and altcoins, as well as their fixation at the same level, do not inspire optimism for investors. Today, the most interesting is the analytical information regarding the future of cryptocurrencies, as optimists and supporters argue that this is only temporary stagnation, and opponents joyfully rub their hands and gladly spread rumors that this direction has crashed and will soon disappear altogether. But in order to see the trend for the future, it is important to recall the history of the blockchain and compare it with other innovations in the currency market. Reason for the rise and fall Blockchain technology and the first cryptocurrency (Bitcoin) received the most positive reviews from the first days of their entry into the market. The ideology of this development itself was aimed at strengthening the free market for electronic payments, protecting users' personal data and creating the most reliable system for storing, accumulating and investing financial resources. But after the successful implementation and testing of the desired popularity, the cryptocurrency did not gain, because the masses did not have confidence in it, and the policy of the regulators of many states was ambiguous to the new product (many immediately threatened to ban it). The main reason for the growing popularity of Bitcoin was the ability to produce this currency on its own. Thanks to the so-called "mining", millions of people and even organizations began to produce cryptocurrency. At this time interval, 3 very important events took place: Altcoins began to appear - this is a lot of free cryptocurrencies that are not bitcoin. Many popular people, movie stars and pop stars, as well as large businessmen and companies created their money. ISO (ISO) projects appeared that offered investors both new cryptocurrencies and special services for their earnings. These were multiple exchanges, cranes, and trading robots. For the first time, blockchain influenced the real sector of the economy. The thing is that to create a cryptocurrency, very powerful processors are needed, which in most cases are installed on gaming video cards. Therefore, those who wanted to earn bitcoins and altcoins began to buy them en masse, which caused unprecedented excitement in the computer hardware market and a sharp increase in the price of video cards. These reasons first led to a sharp increase, and then a drop in rates. Due to the wide variety of altcoins and the rapid growth of their popularity, “bubbles” began to appear - unsecured masses of cryptocurrencies, in the development of which the developers invested almost nothing. Most of the ISO projects in the process of growing popularity were replaced by fraudulent pyramids that skillfully disguised themselves as start-ups, but after (or in the process of) fundraising fell apart, and their managers disappeared along with the money. In the real sector, the economy also began to collapse - after several years of colossal superprofits, video card manufacturers began to prepare for losses due to the glut of the market. What technology has brought and what impact has had Blockchain technology, despite the criticism of many opponents, has left indelible consequences for everyone. Most experts today are not shy about using terms such as the “cryptocurrency world” instead of the “cryptocurrency market” and this is quite true. The thing is that blockchain technology turned out to be much more reliable and progressive than the existing banking system. After all, it, in essence, enables each user to have their own bank. And the fact that each transaction is stored in the system eliminates the possibility of artificially inflating (understating) the course. In addition, cryptocurrency cannot be created endlessly - the possibility of creation is always limited by the demand for it. All large corporations and banks appreciated the entry of bitcoin into world capital, as a result of which cryptocurrency was allowed for international trading on a par with the currencies of different countries. Today, hundreds of millions of dollars are invested in blockchain technology, investments are made by banks, large financial organizations, software developers, and even food manufacturers. Already on the basis of this, we can confidently say that blockchain is the technology of the future, which will subsequently change the understanding of the payment system and the banking sector. What will happen to ordinary users If everything is clear with large companies and financial corporations, miners, traders and just users of bitcoin and altcoins are now experiencing depression. But the main reason for this is the lack of easy money. Yes, at the very beginning of bitcoins, it was very easy to earn on taps and various services. Then I had to invest in the construction of special "farms", which quickly paid off and began to generate income. And now, only professional market players can earn money at all. And the point here is not at all in the cryptocurrency itself - just large corporations invested a lot of money in its promotion and popularization. It was at their expense that many were able to earn in the early stages of the development of this system. Today, investors no longer need to "feed" the interest of the general public to blockchain technology. Now they intend to return their investments and make profits, which is why a kind of "restructuring" is taking place in the market. The course has stabilized and the likelihood of new leaps remains quite low. As for the positive aspects, experts say that in the future, ordinary users should expect new ISOs. They will be exclusively working projects that will completely displace financial pyramids from the market. Investing in them will be carried out not at the initial stage, but gradually, as the project develops. From themselves they will be a technological product, and not just another speculative scheme or a new unpromising altcoin. In connection with the introduction of blockchain technology in the banking system and huge investments by corporations in the future, it is expected that cryptocurrency, if not replaced, will become a full-fledged competitor to the existing payment system. To understand how this will look, just study the Chinese experience in implementing the WeChat settlement system. In this country, in just a few years, payments by mobile phone replaced cash and bank cards, which provoked positive changes in the country. This introduction accelerated economic growth in times of crisis, thanks to it private business began to develop more actively. Blockchain technology will ultimately bring such changes, not only within the framework of one state, but of the whole world. At first, not all countries may support this, but in the end they will also have to resort to the massive introduction of cryptocurrencies.
  2. Google’s quantum computer was able to calculate in 3 minutes and 20 seconds, for which the world's most powerful supercomputer, Summit (IBM), would take about 10 thousand years. Employees of the company outlined information about this scientific discovery in a publication that was posted on the NASA website. However, after a while, this report was deleted from the site without explanation. But the Financial Times managed to study and analyze the opening text. At the end of August 2019, Google experts prepared a report entitled “Quantum Supremacy Using a Programmable Superconducting Processor” about their discovery using a new quantum computer - achieving quantum superiority. The material was published in September 2019 on the NASA website, but was later deleted. The data in this report remained in the Bing cache and is available at this link. Quantum superiority is a turning point in which a quantum computer can fulfill a task that was previously considered impossible or would have taken an incredible amount of time to solve using the current advanced technological achievements of civilization. A quantum computer is a computing device that uses the phenomena of quantum superposition and quantum entanglement to transmit and process data. A quantum computer (as opposed to an ordinary one) operates not with bits (capable of taking either 0 or 1), but with qubits that have both 0 and 1 values. Theoretically, this allows us to process all possible states at the same time, achieving significant superiority over ordinary computers in a number of algorithms. Many companies and universities around the world are involved in the creation of quantum computers, but Google has been the leader in this race for several years. As early as 2017, engineers at Google’s quantum hardware division used a 22-qubit quantum computer. Google's quantum processors are located in the company’s lab in Santa Barbara. There they are kept in special tanks - cryostats. Compressed helium and liquid nitrogen, pumped from the freezer, cool the inside of the cryostat to minus 273.11 ° C. Such a low temperature is necessary to maintain superconductivity. In fact, this is a quantum integrated system, which includes in addition to a cryostat with qubits and classical electronics, which is responsible for the remote access of specialists to the system for program research and analysis of the data obtained. Moreover, all elements of the system must be reliably protected from mutual and external interference. This is a complex and expensive system for conducting quantum computing, and the company spends a lot of money on its maintenance and operation. The quantum engineering team at Google is led by Hartmut Neven. Neven at the company previously oversaw the most innovative projects - from AI facial recognition software to launching Google Glass. At the end of 2017, the Neven team in Southern California was preparing to launch a quantum computer on a 49-qubit processor, using which it was planned to overcome a new technological frontier, after which quantum computers could achieve quantum superiority. In March 2018, Google introduced the 72-qubit Bristlecone quantum processor. The company is also working on the creation of a new architecture for a quantum computer so that it is possible to work with it at higher temperatures, as well as using new engineering solutions to reduce interference during data transfer. And so, in September 2019, Google experts published a report on their discovery when using a new quantum computer - achieving quantum superiority. A Google quantum computer with a 53-qubit processor, called the Sycamore (Platan), took part in a scientific experiment. To create Platan’s infrastructure, the Google quantum technology team even had to downgrade the design of the previously created 72-qubit Bristlecone processor. NASA’s website, removed for unknown reasons, claimed that Google’s quantum computer was able to perform very complex software calculations in just two hundred seconds. Thus, an experimental demonstration of the superiority of a quantum computer over a traditional one was carried out. For comparison, Summit's most advanced supercomputer could produce such a result in only 10 thousand years. The Summit supercomputer was launched in the United States in 2018. Its estimated capacity is 200 thousand trillion operations per second, it consists of 4608 computing servers, each of which has two 22-core IBM Power9 processors, and internal memory reaches 10 petabytes. Also, according to company experts, the implementation of the same experiment on a Google Cloud server would take 50 trillion hours (5.7 billion years). In their publication, Google experts clarified that their new system can only perform one calculation, and the use of quantum computers to solve practical problems is in the distant future. Whether this calculation was associated with certain studies or mathematical problems, the company did not specify. Although the company’s specialists explained in the article that the experiment used random numbers generated according to a special scenario associated with quantum phenomena. “We have achieved significant acceleration compared to all known classical algorithms, which was able to provide experimental implementation of quantum superiority in the solved computational problem, which marks the emergence of such an expected computational paradigm,” the Google report stated. The report also suggested that the power of new quantum systems would increase at “double exponential speed,” even ahead of the exponential speed that determined Moore’s law, a trend in which traditional computing powers double approximately every two years. Regarding the removal of the publication from the NASA website - Google refused to confirm the authenticity of the report and its results, NASA also did not respond to a request for comment about this strange removal of material from the publication. However, according to Fortune, a source at Google familiar with the situation suggested that NASA accidentally published this document too early. After all, the calculation results and analysis of the quantum computer calculations have yet to be thoroughly checked by experts and scientists. And such a process of complex scientific peer review can last from a few weeks to months. Also, this article will be under the scrutiny of the scientific community, and if its results are confirmed, it will become a harbinger of a turning point in quantum science. Why were the data on this experiment published on the NASA website? In 2018, Google entered into an agreement with NASA to use the agency’s supercomputers to verify the company's calculations using quantum computers. In general, no matter what the results in Google’s calculations, many quantum technology developers fear that the current results of the experiment may be exaggerated and they are worried by the fact that increased expectations of imminent progress in this area in the short term will lead to the emergence of a new technological a bubble that can burst quickly. Dario Gil, director of IBM Research, does not recommend using the term “quantum superiority” as a metric to measure progress in this area. “This experiment and the term quantum superiority will be misunderstood by almost everyone,” Jill cautioned. According to him, it was a special laboratory experiment, which at the moment has no practical application. “Quantum computers will never dominate classical computers, but will work with them, because each has its own unique advantages,” said Jill. Jim Clark, Intel Labs Director of Quantum Technology, identified Google’s achievement as a significant marker in the development of quantum computers. However, according to him, a commercially viable quantum computer will still require many achievements and solutions in the field of R&D before it becomes a reality. “Despite the fact that this development is still at the first stage of our marathon, we firmly believe in the potential of this technology,” Clark added.
  3. The price of Bitcoin is unlikely to rise to 40 thousand dollars by the end of 2019. This conclusion was reached by investor Trace Meyer. Judging by the behavior of the asset over the past few months, its value will reach a historical maximum by December. Fans of crypto protection can expect a price increase of up to 21 thousand dollars, while in such a short time Bitcoin is unlikely to reach high heights. Today, cryptocurrency is trading at $ 10,876. Over the past day, its value increased by 1.7 percent. Recall, the previously well-known trader Peter Brandt said that in this bullish cycle, bitcoin could grow to 100 thousand dollars in the foreseeable future. Tuzemun borders on Meyer's forecast based on the metric of the same name - the Meyer multiplier. This indicator is calculated by dividing the current market price of Bitcoin by the moving average value of 200 SMA on a one-day chart scale. Now the multiplier is 2.09, which can be interpreted as a low probability of an asset growing too fast. Recall that earlier the co-founder of the Gemini exchange Tyler Winklevoss said that after overcoming the level of 10 thousand dollars, bitcoin without problems will grow to 15 thousand dollars. Please note that this level is the nearest important mark for bears. This is where a new deep Bitcoin correction may begin. The Meyer factor suggests that the bulk of the BTC price movement on this bullran will happen next year. Exactly one year later, cryptocurrency will reach 30 thousand dollars. This year has become very significant. After the high-tech growth of bitcoins in 2017 and a rapid fall in 2018, 2019 showed that the first cryptocurrency is able to survive such a “swing” and recover like a phoenix from the ashes. The industry is entering a new round of its development: this is not the same insincere toy that can be obtained on the processor of your home PC. Bitcoin is the real product that is being used. Yes, mainly in the black market, but this is only the beginning. Giants have entered the game, and around the cryptocurrency infrastructure, exchanges and various services are growing, like mushrooms after the rain. At the same time, do not forget that to create any service you need money, not small ones. For example, how much does it cost to create Twins or Coinbase? Millions of dollars. And people who have money are ready to invest these millions in cryptocurrency related services. Even after the fall of 2018. Bitmain goes IPO, Facebook launches its cryptocurrency, the US State Department and other countries consider cryptocurrency as a new tool in the securities market. Does that sound like death? I doubt. Rather, cryptocurrencies are entering a new stage: big uncles are interested in them, and now they will create real work products. Will there be growth? I hope not. 20 thousand dollars by the end of the year is the maximum that I would like to see with a successful news background. It should be understood that the same ban on cryptocurrencies in India or another country can bring down the course in a matter of days. Better a good apartment with clogging with new services than a sharp increase, which will necessarily lead to a sale. Marks such as 10, 15 and 20 thousand dollars are triggers for the sale, it will be very difficult to overcome them. People did not receive bitcoin evenly: those who had previously learned about this and could mine on a home processor now have huge reserves of coins. These people will go to these levels because they have enough money for the rest of their lives. The industry will have to accept these kickbacks and move on - and this already causes global interest in cryptocurrencies. I hope that huge companies like Facebook provide cryptocurrency information to billions of people. And in a good way.
  4. Bankruptcy Exchange Mt. Gox But did you know that already in 2015, the market value of one bitcoin could be about 1,500 US dollars for one coin? The stable growth rate of the leading digital currency was hindered by the Tokyo exchange Mt. Gox, which in the summer of 2013 conducted up to 50% of all blockchain transactions for bitcoin. In early 2014, Mt. Gox closed the top three exchanges leading digital money transactions. However, it was at this time that an incident occurred out of the ordinary - around 850 thousand bitcoins unexpectedly disappeared from the clients of this site, whose market value at that time was about 470 million US dollars! Later it was possible to return 200 thousand "cue ball", but this did not correct the situation. As a result of the incident, the exchange suspended trading, limited the withdrawal of funds, and then generally filed for bankruptcy. As a result of this event, bitcoin fell exactly 3 times. It is noteworthy that the reason for this loss has not been finally established to date. Most likely we are talking about a massive hacker attack, which led to the theft of money. OneCoin Project In 2015, a group of enterprising businessmen tried to take advantage of the popularity of cryptocurrencies by launching the so-called OneCoin project. OneCoin meant a new digital currency based on cryptography and blockchain. The launch of this startup brought considerable profits to its owners. However, market experts quickly figured out a scam, recognizing in it a classic financial pyramid. During the investigation, it turned out that OneCoin is not a cryptocurrency, but a kind of analogue of electronic payment systems actively used in modern gaming. Therefore, all operations conducted with OneCoin are aimed at personal enrichment of owners at the expense of respectable investors who decided to invest in a new and “promising” digital currency. Bitfinex hacker attack In 2016, a group of hackers dealt an irreparable blow to Bitfinex, the largest global exchange trading bitcoins. Using a planned attack, the attackers managed to withdraw from the accounts of about 120 thousand bitcoins, the price of which at that time was 65 million US dollars. As a result, user accounts were frozen, transactions were suspended. The market rate of bitcoin fell the next day after the theft by 20%. Drug Traffic on Silk Road At the very beginning of the era of cryptocurrencies, the anonymous virtual trading platform Silk Road, working through the Tor browser, seriously damaged the reputation of digital money and blockchain technology. The fact is that more than 70% of all goods passing through Silk Road, in fact, were nothing more than psychotropic and narcotic drugs. All purchase and sale operations were carried out using bitcoins, which guaranteed complete anonymity to both sellers and buyers. It was practically impossible to track down attackers who freely trade through Tor (the so-called Dark net), and even additionally are protected by encryption through the blockchain. In 2013, thanks to the efforts of law enforcement, Silk Road was finally closed. However, as they say, an unpleasant sediment remained. Syrian Electronic Army Scammers (SEA) For the past several years, scammers and extortionists from a non-governmental terrorist organization, the Syrian Electronic Army, have been engaged in targeted mailing of threats and demands to the email addresses of businessmen, politicians, public figures. The requirements are quite prosaic - to transfer a certain amount in digital currency to the specified wallet, otherwise the “army men" threaten to disclose the incriminating evidence or closed personal data of the recipients of such correspondence. Tracking intruders is virtually impossible. All used email addresses are one-day ones, and wallets, taking into account the use of the blockchain, cannot be blocked. Operations on the Coin.mx exchange This quite popular virtual platform has established itself as a place to launder financial flows obtained illegally (in particular, with the help of hacker and massive virus attacks). Coin.mx organizers E. Murgio and Yu. Lebedev registered Collectables Club to activate and conduct black schemes, but already in 2015 they managed to bring the scammers to fresh water. Today, Coin.mx executives are in custody and awaiting their sentences. Chinese hackers At the beginning of July 2018, a group of hackers who developed and launched a series of malicious software applications on the network were discovered and arrested by the Chinese cyber police. The purpose of the development is to send to ordinary users applications to browsers via the Web, which should speed up surfing and computer operation. In reality, such programs immediately after installation began to work hard for their owners. Namely, mine cryptocurrency and automatically send mined coins to the wallets of their owners. In just two years, attackers managed to extract 26 million DigiByte, Siacoin and Decred tokens, whose market value today is more than $ 2 million. BitConnect Project Perhaps the most high-profile scam that seriously shook the cryptocurrency market in 2018 was the unexpected collapse of the BitConnect project. This digital investment platform appeared on the Web in 2016 and immediately announced its intentions to enter the digital economy elite, bringing superprofits to all project participants without exception. At the heart of the scheme of work of fraudsters is special software, which, according to its developers, helped to calculate and then generate daily profit in digital currency. Everyone who bought copyright software could calculate the exact time period for the most profitable purchase or sale of “cue ball” on virtual exchanges. According to the promises of fraudsters, such a scheme was to bring up to 365% per annum of net profit (or 1% per day)! Positioning itself as a successful ICO startup, the BitConnect project, indeed, for some time promoted Bitcoin, contributing to its price growth, and, accordingly, to popularization on the Web. The startup issued BCC tokens, which until the beginning of 2018 were among the twenty most expensive cryptocurrencies in the world (exchange price - more than $ 400 per coin). However, in early January 2018, BitConnect unexpectedly turned off its activities for everyone, and the virtual platform closed. The cost of BCC instantly fell by 65%, and the capitalization of the project decreased from 2.8 billion to $ 188.2 million US dollars. During the investigation, it turned out that BitConnect was nothing more than a well-designed fraud scheme. Having collected several billion profits from investors, the scammers laundered money and immediately closed the platform, thus leaving investors with a nose.
  5. the first "cipher banks" were mostly libertarians from California. I belonged to a different tradition, but we all sought to protect individual freedom from state tyranny. Cryptography was our secret weapon. Now many forget how subversive it was. Cryptography at that time was the exclusive property of states and was used by them in numerous wars. Having written our own program and distributed it everywhere, we released cryptography, democratized it, and distributed it to the farthest reaches of the new Internet. The tightening of nuts followed in the form of various laws on "arms smuggling", but these attempts were unsuccessful. Cryptography has become standardized in web browsers and other software tools that people use daily. Strong cryptography is an important and powerful weapon in the fight against state oppression. This is the message of my book Cypherpunks (Cipher Banks). But the universal accessibility movement of strong cryptography should do much more. Our future lies not only in the freedom of choice of personality. Our work at WikiLeaks provides a keen understanding of the dynamics of world order and imperial logic. During the rise of WikiLeaks, we saw evidence of how small countries were blackmailed and oppressed by larger countries, how foreign enterprises infiltrated and infiltrated them, forcing these countries to act contrary to their interests. We saw how the will of the people is deprived of the means of expression, how elections are bought and sold, how the wealth of countries such as Kenya are stolen, and then sold at auction to plutocrats in London and New York. The struggle for Latin America’s self-determination is important to far more people than the people of Latin America because it shows the rest of the world that this can be achieved. But Latin American independence is only in its infancy. Attempts to undermine Latin American democracy are still being made. Recently, they have been observed in Honduras, Haiti, Ecuador and Venezuela. That is why the message of cipherpunk is of particular importance to the Latin American audience. Mass surveillance is not only a problem for democracy and government. This is a geopolitical issue. Surveillance of the population of an entire country by a foreign power naturally threatens its sovereignty. Constant interventions in the internal affairs of Latin American states have taught us that we must be realistic. We know that the old powers will use every opportunity to delay or suppress the massive emergence of independence in Latin America. Think about a simple geography question. Everyone knows that oil resources are the engine of global geopolitics. Oil flows determine who is the main, who is being invaded, and who is being expelled from the world community. Control of even a small section of the pipeline gives its owner tremendous geopolitical power and strength. States in this position can make huge concessions. The Kremlin in a blink of an eye can doom Eastern Europe and Germany to a winter cold without heating. And even the slightest hint that Tehran can lay a pipeline in the direction of India and China, serves as an excuse for warlike statements and plans on the part of Washington. But the new big game is by no means a war for oil pipelines. This is a war for information pipelines, for control over fiber optic lines that run along the seabed and on land. A new global treasure is the control of gigantic data streams connecting entire continents and civilizations, linking billions of people and organizations into a single whole communication. It is no secret that on the Internet and telephony all the way to and from Latin America goes through the United States. Internet infrastructure directs 99% of the traffic going to and from South America via fiber optic lines that cross US borders. The American government has shown that it will not feel remorse, breaking its own laws and connecting to these lines in order to spy on its citizens. Every day, American spy agencies absorb hundreds of millions of messages from across the Latin American continent, keeping them forever in their repositories, not inferior in size to small cities. Consequently, the geography of the Internet infrastructure has important implications for the independence and sovereignty of Latin America. But the problems here are not limited to geography. Many Latin American states and armies protect their secrets with encryption equipment. These are equipment and programs that encrypt a message at one end and decrypt it at the other. Governments buy these things in order to keep their secrets secret, often spending a lot of money on it to the detriment of the well-being of the people, because they rightly fear that their connection will be intercepted. However, companies selling this expensive equipment maintain close ties with the U.S. intelligence community. Their leaders and senior employees are often mathematicians and engineers from the NSA, and they use the inventions that they created for the state of total surveillance. Their devices often deliberately break and disable. It doesn’t matter who uses them and how - American departments can decrypt the signal and read the messages anyway. This equipment is supplied to Latin American and other countries as a means of protecting their secrets. But in fact, this is a means to steal their secrets. Meanwhile, the United States is accelerating a new large arms race. The discovery of the Stuxnet virus, followed by the Duqu and Flame viruses, ushers in a new era in which software made by powerful and influential countries, converted into sophisticated modern weapons, will be used to attack weaker states. Their aggressive use as a first strike against Iran undermines Iranian efforts to maintain national sovereignty. Such a perspective is fully consistent with the interests of the United States and Israel in this region. There were times when the use of a computer virus as an offensive weapon was only a plot from science fiction. Now this is a global reality, which is spurred by the reckless behavior of the Obama administration, acting contrary to international law. America will now be followed by other states, strengthening its offensive cyber potential. The United States is not the only criminal. In recent years, Internet infrastructure in countries such as Uganda has been developing through direct Chinese investment. These countries receive generous loans in exchange for contracts with Chinese companies to build a basic Internet infrastructure that connects schools, government ministries and communities, connecting them to the global fiber optic system. Africa goes online, but the hardware is provided by a foreign superpower with great ambitions. Will the African Internet become the means by which Africa will be oppressed in the 21st century? Is it again becoming a platform of confrontation between world powers? There are several important points that indicate that the message of cipher banks is not limited to the struggle for individual freedom. Cryptography can protect not only civil liberties and human rights, but also the sovereignty and independence of entire countries, solidarity between groups of people fighting for a common cause, and a global liberation project. It can be used not only in the struggle against the tyranny of the state over the individual, but also in the fight against the tyranny of empires over small states.
  6. Supporters and experts of digital currencies strongly believe that Bitcoin will one day supplant traditional money and become a global means of payment, while others claim that it does not meet the criteria of money and therefore cannot replace fiat money. Over the past 20 years, the system of traditional currencies has undergone many changes, however, none of them turned out to be as significant as the appearance of bitcoin on January 3, 2009. Bitcoin was conceived as a direct competitor to the traditional monetary system, and this led to many speculations that it could replace fiat money. Although it is difficult to imagine that in the future all existing currencies can be replaced exclusively with bitcoins or something like that, in fact this day can be much closer than we think. “They will laugh at you for not using cryptocurrencies” Well-known investor, billionaire and Bitcoin optimist Tim Draper believes the widespread adoption of cryptocurrencies will lead to the fact that the circulation of fiat currencies will significantly decrease and they will be replaced by digital currencies. Now, Draper has significantly increased his bullish forecast for bitcoin, naming the price of $ 250,000 per coin over the next four years, and also predicted that fiat money will disappear much faster than expected. His son Adam Draper, founder and CEO of Boost VC, also recently made similar statements, saying that in 10 years there will be more digital currencies in the world than fiat ones. Most investors also believe that over time, the share of bitcoin in cash turnover will increase significantly compared to fiat money. According to US Global Investors, today in the United States the volume of circulating fiat money is $ 1.59 trillion, and according to the Chicago Fed, this figure may be reduced to $ 501 billion over 10 years, since in general bitcoins and cryptocurrencies have become more widely used. for transactions. The St. Louis Fed also makes similar predictions, stating that a rapid transition from cash to cryptocurrencies could occur. Researchers at London's Imperial College and the eToro trading platform, having evaluated the fundamental role of traditional currencies and compared them with cryptocurrencies, have come to the conclusion that new payment systems do not appear overnight. However, they noted that cash payments have long evolved from cash to digital or contactless. According to London researchers, “the wider use of cryptocurrencies and digital assets is just the next natural step.” Who reacts and how If the United States seeks to explore the prospects of bitcoin as the world's leading currency, countries such as China are worried about a decrease in cash turnover, which, in turn, may also lead to an increase in alternative payment methods. Each country reacts in its own way to the appearance of bitcoin - in some countries it can completely overthrow fiat money, and in other countries cryptocurrencies and fiat money can apparently coexist. On the one hand, cryptocurrency enthusiasts are looking forward to the moment when traditional fiat money will completely disappear and they will see that Bitcoin will become the single currency of the world; but, on the other hand, governments and central banks see this as a multitude of problems. If cryptocurrencies prevail over fiat money, then the latter can quickly lose their value without any hope of recovery. Such a transitional moment can cause significant problems for established governments, which will have to change their methods of work in order to keep pace with the times. Since cryptocurrencies are not under the control and censorship of governments, the latter are likely to lose control over their traditional currencies, and they will no longer have to determine how much currency to print in response to external or internal pressure. The most fanatical bitcoin enthusiasts see this as positive, but the general public may have some concerns about this scenario. Apparently, the fact is that not all people are ready to fully control their own finances. Researchers from the St. Louis Fed Alexander Berentsen and his colleague Fabian Shar believe that it is not difficult for central banks to create their own cryptocurrencies, but at the same time, they say that the key characteristics of cryptocurrencies are that which are not compatible with the activities of the central bank. “Bitcoin does not satisfy the main features of the currency” New York Fed President and CEO John Williams is not worried that Bitcoin could replace fiat currencies. According to him, bitcoin and other cryptocurrencies cannot replace the American dollar, because they do not pass the basic test of what the currency should be. According to him, "Bitcoins have enough problems with fraud, money laundering and the financing of terrorism." So far, of course, the vast majority of world governments use fiat money, and it is unlikely that bitcoin will replace them in the near future. Another ten years? Perhaps Bitcoin needs some 10 more years so that we can use it as everyday money. At least that's what the words of Twitter and Square CEO Jack Dorsey are: “Ultimately, there will be a single currency in the world and the Internet. I personally believe that it will be bitcoin. It will probably happen in ten years, but it can happen faster.
  7. Despite a 70% drop in Bitcoin value in 2018, no one still knows if Cryptocurrency No. 1 has bottomed out. The year 2017 changed the market very much - then Bitcoin “inflated” to 20 thousand dollars, which radically changed the perception of the cryptocurrency market. The subsequent drop after a staggering growth disappointed some market participants. Other participants have not stopped believing in bitcoin and still feel confident with digital gold in their wallet. Today we will talk about the reasons that make the presence of bitcoin in the investment portfolio still the right decision. 1. Bitcoin always shows highs after a fall The history of bitcoin has more than 340 applications for the death of cryptocurrency. After such statements, Bitcoin always shows new highs. The fall of 2018 may not be an exception and the subsequent rise in bitcoin will become even more impressive. Recall the summer of 2011. Then Bitcoin was trading at a price of $ 30. A little, you say. But this was only the beginning of the life of bitcoin. In the same 2011, due to the hacking of the Mt.Gox exchange, the price of bitcoin collapsed 15 times - up to $ 2. If bitcoin with a value of 20 thousand dollars fell 15 times, then its price would be about 1300 dollars. So, after falling to $ 2 in 2011, Bitcoin managed to recover already in 2012. In 2013, Bitcoin fell from $ 1,000 to $ 175 and then recovered again. And there were many such cases. Today, there is no exact evidence that bitcoin has bottomed out. So it makes no sense to "merge" bitcoins right now, in the near future, it is possible (and likely) that there will be a chance to make good money. 2. The technical excellence of bitcoin continues to grow. The network has a lot of talk about cryptocurrency, which can replace bitcoin in the future. However, users forget that Bitcoin is constantly improving and surpassing itself. Perhaps no replacement for digital gold will be needed. Bitcoin developers are working not only on the scalability of the cryptocurrency, but also on adding the functionality of smart contracts. 3. Institutionals go to cryptocurrency Already this year, new products will appear that will allow institutional investors to work with cryptocurrencies. For example, the Bakkt platform will attract Wall Street companies to cryptocurrency trading, and, of course, first of all, it will be Bitcoin. Last year has already shown the interest of institutional in the cryptocurrency market. The number of hedge funds working with cryptocurrency has increased significantly. 4. Financial regulators are working on the rules for the cryptocurrency market And this is the factor that shows the seriousness of the issue. The issue of cryptocurrency market regulation was considered by the Big Twenty (G20) last year. A market that works according to clear rules will begin to attract more and more investors who are used to working in a regulated market (the same insurance companies, mutual funds, etc.). Most likely, 2019 will be marked by tight regulation of the cryptocurrency market. Most cryptocurrency exchanges have already implemented a user verification procedure (KYC, AML), which may indicate serious plans for lawmakers. 5. Bitcoin enters the masses Bitcoin distribution did not stop during the depreciation last year - the number of Bitcoin wallets over the year increased by one and a half times. This only says one thing - users are interested in bitcoin. One cannot but rejoice at the increase in bitcoin trading volume in the emerging markets of South America. Residents of countries with difficult economic situations increasingly prefer cryptocurrencies than fiat.
  8. How to get bitcoins (types of mining, investment activity, etc.) How to get 1 bitcoin, and do it as quickly as possible? If the main thing for you is the speed of crediting 1 bitcoin to your account, the best option would be an exchange through specialized online services. What could be simpler - indicate the currency we plan to give, in the “Receive” field, select bitcoin, the amount is 1 BTC. We fill out several other fields of the application - and after a maximum of 30 minutes we get our bitcoin to the wallet. But this method only has one drawback that the cat Matroskin once said a long time ago: “To sell something unnecessary, you must first buy something unnecessary, but we don’t have money.” Of course, it’s unlikely that bitcoins can be called “unnecessary,” but this phrase betrays the main point - as long as you do not have another cryptocurrency or fiat money on your account that you can give in return for 1 bitcoin, you will not receive your 1 BTC. Our task is to understand how to get bitcoin for free and quickly. Alas, in most cases, “free” and “fast” in relation to the process of receiving bitcoin are difficult words to combine. Unless some kind uncle with a bunch of BTC on the account decides to transfer 1 bitcoin to you by kindness, but the likelihood of this is also extremely small. Fortunately, everything is not as sad as it might seem. Today, there are a huge number of ways to get btc for free, that is, without giving away another currency in return. We will now consider them: 1. Mining. Bitcoin mining is a very popular way to make the number one cryptocurrency in the world. However, the complexity of mining bitcoins is constantly increasing, and therefore you can immediately forget about mining BTC on your own computer. The received crypto money will not be enough for you even to pay for the electricity that will be spent on this process. So, is it better to forget about BTC mining right away? In no case. After all, mining is different. If you create your own mining farm, equipping it with powerful video cards and pumping it in full, you can get bitcoins. But, as you know, demand always creates supply, and an increase in the number of miners has led to a significant increase in the cost of video cards. So this method of mining BTC can hardly be called “free”, because you have to invest a lot of money in creating a mining farm. However, these funds will be repulsed after 6 - 12 months, and your mining farm will begin to make a profit. But why bother with buying powerful graphics cards if bitcoin mining is inappropriate anyway? There is a small nuance: it is impossible to mine BTC on video cards, but in this way we can mine other, less expensive coins, the mining of which is much simpler. When these coins are mined, we can exchange them for bitcoins.Mining at ASIC will provide a high level of payback. But here there is one minus - the ever-growing complexity of the network leads to the fact that ASICs quickly become obsolete. Another once popular type of mining is on video cards (GPUs). Previously, in this way it was possible to mine bitcoins, now it is unlikely. Even when using powerful Radeon or GeForce graphics cards, you can get dash, monero, maximum - ethers. With bitcoins, it will be harder to do. Consider a few more types of BTC mining: Browser This type of bitcoin mining is attractive because of its simplicity, and consists in executing a JavaScript script. We do not recommend it to you, since with a low degree of effectiveness you risk your safety. Most browser mining services are created by fraudsters, and without the knowledge of the user, they inject a hidden miner into the file system. Hidden. A virus spreads that settles firmly in the computer's memory. Removing it is almost impossible, many antivirus programs are powerless. Next, the victim’s PC is used to mine bitcoins. On laptops and smartphones. Low efficiency even when using the most powerful PCs. The maximum that this type of crypto mining is suitable for is to familiarize yourself with the mining process. Mining on the HDD. Suitable for the extraction of coins that have recently appeared on the market. The essence is to provide disk space for crypto mining, and receive rewards for this. That's just to earn only $ 1 per day, you will need to provide about 500 terabytes. How beneficial is it? The answer is obvious. One way or another, getting bitcoins for free in this way is a myth, not a reality. On server. It is irrelevant for Bitcoin, except for coins such as Monero, and even then at a low cost of electricity. However, it is quite advisable to mine new cryptocurrencies in this way. Cloud mining. Miners rent equipment and mine cryptocurrency. How effective is this type of mining BTC? The answer to this question will depend on 3 factors - the current cost of BTC, the amount of equipment rental fees and network complexity. We conclude on mining: we are no longer talking about any free Bitcoin mining. Free methods are only such in theory, in fact, with almost zero efficiency, you will also go into the “minus” due to the cost of electricity. For really effective bitcoin mining, you need to have impressive computing power, and buying and even renting such power is not cheap. It is better to mine bitcoins and other cryptocurrencies in pools (Maynergate and others), and it is better to forget about BTC solo mining right away, focusing on new cryptocurrencies. Investing in cryptocurrency is another way to get bitcoins. But then again, we are not talking about any “free”. Your income will depend on the dynamics of the Bitcoin exchange rate, but one way or another, it’s unlikely that you will be able to buy BTC for a few cents and sell it for $ 20,000 - such an opportunity “disappeared” back in 2009-2010, and those who don’t went along the path of a lover of delicious pizza Laszlo, and retained his bitcoins, today they have become dollar billionaires. However, investing in bitcoins is definitely not for beginners who are completely unaware of the principles of investment activity. The high volatility of BTC can lead to significant financial losses, and before investing at least 20-30 thousand dollars in the purchase of bitcoins, you should think carefully - are you ready to take such risks? If your answer is yes, then go ahead! If you have absolutely no money, but thoughts about bitcoins do not leave you, you can consider the option with micro-earnings BTC. It consists in the fact that you perform certain tasks, and for this you get Satoshi. Here, nobody will definitely offer you 1 bitcoin at a time, and you will have to spend a lot of time and effort to earn it. Popular among beginners are online services PTC (Paid-to-Click). The meaning of earning is simple - you look at advertisements, for which you get Satoshi. However, the simplicity of this method of earning pales before its main drawback - low efficiency. The maximum you can count on is 30-40 cents per hour. In addition, the number of advertisements is limited. Bitcoin faucets will make it possible to earn up to 10 cents per hour, while the creators of the faucets themselves often say: “With us you can earn up to 0.1 BTC in 1 hour!”. In reality, in 99% of cases, the user is paid the minimum amount. But ... there is such an interesting thing as a referral program. And many services make it possible to attract other users via a referral link, receiving approximately 25% of their income. Therefore, if you approach the issue of using cranes in all seriousness, you can make them a good source of BTC earnings without investment. Completing tasks for bitcoins. Sounds good, huh? Alas, in this case we are talking about tasks such as posting on social networks, application testing, etc. The tasks are simple, respectively, and the payment for them is modest. Writing posts and articles on cryptocurrencies. In order to earn bitcoins in this way, you must have a good understanding of cryptocurrencies. For example, using the BitcoinTalk service, you can earn up to $ 3 per hour just by leaving comments. But here there are some conditions. Firstly, these comments should be useful to forum visitors. Simple comments like “Wow, this is a very cool article!” Will not be rewarded. In addition, in the initial stages you should get ready for work for “thank you”. In the case of BitcoinTalk, to receive payments for comments you need to become a full member of the community. To do this, write a minimum of 120 useful comments. However, further for each post you will be able to receive 0,0005 BTC. You can also negotiate with sites directly, receiving from $ 2/1000 characters or more, but for this you will need to not only have an excellent understanding of the topic of cryptocurrencies, but also be able to express your thoughts beautifully and concisely, know the basics of SEO, etc. Giving money on credit. In order to earn in this way, you will have to have at your disposal a certain amount of funds in BTC. We become an investor in projects and get interest. You can also borrow funds to individuals, but it is better to do this through proven services so as not to lose your bitcoins. Gambling Today, many online casinos accept bitcoins and are ready to pay generous winnings to customers. At least in words. In fact, uncontrolled excitement can lead to the loss of all savings. Earnings on affiliate programs. A very popular type of earnings, where you can also earn bitcoins. The essence of making money is simple - you advertise products or services of a company, customers follow your affiliate link, make a purchase, and a certain percentage is charged to you. The disadvantage of this method of earning is that for it you will need a well-developed website with good traffic. If you just leave messages on the forums or send advertisements to the databases of e-mail addresses, you will simply be put on the “black list”. Nobody likes spammers - this is a fact.
  9. Cryptocurrency is not yet a used tool in trade relations. That is, while it is impossible for her to pay in shops, bars, buy real estate or a car for her (not including Japan and some online stores), for the following reasons: Cryptocurrency in most countries does not have regulation and clear legislative mechanisms. Due to the first reason, there is a high level of distrust of cryptocurrency among the townsfolk. The imperfection of the blockchain, which does not allow making transactions massive because of low scalability (as you know, the bitcoin blockchain is capable of processing 3-4 tps per second).The cryptocurrency of the future is decentralization, scalability, security (anonymity). Thus, macroeconomics with the help of blockchain will reach a new level. The main feature is the lack of centralized control. With the help of the blockchain, you can manage literally any aspect of life on your own.What is the value of cryptocurrencies and why are they needed? The value of cryptocurrencies of the future cannot be overestimated. Already with the advent of the second generation blockchain, in the form of Ethereum, cryptocurrencies ceased to be just an idea about an electronic payment system. Thanks to smart contracts, they gained global meaning, in particular for business. With these platforms, transactions become secure and the ability to manage a business more flexible. The main values of cryptocurrencies: Openness - in particular, it consists in openness of the code, mining and forging. Thus, any layman has the opportunity to influence a particular cryptocurrency, get it, and even make suggestions on code changes on some new platforms; Anonymity - this factor is valuable not only for individuals, but also for business. Innovative blockchain platforms are built in such a way that network members can independently adjust the level of anonymity. In modern realities, business and individuals should have the right to confidentiality of their own funds flows. Decentralization is the main value of this factor, it almost completely eliminates the need for third parties to participate in transactions and financial transactions. Today, people can pay without third parties only by transferring cash from hand to hand. In the case of all other non-cash payments, the third parties are banks, exchangers, dealers, brokers, which not only do they have access to all information on payments, they also charge a huge commission for this. Risk reduction - the fact is that the emission of cryptocurrencies is most often strictly limited. It is impossible to print as much as you like, as is the case with fiat, thus significantly reducing the risks associated with inflation. Security - there is an article for counterfeiting in every criminal code, fiat funds are easy to fake. With cryptocurrency, this option is excluded, it is impossible to copy, crack, fake it. And these are far from all the factors of the value of digital money. Why cryptocurrency? Yes, if only because fiat and traditional assets are concentrated in the hands of a privileged group of people: National Banks, Federal Reserve Services. The closer an individual is to similar structures, the more opportunities he has to use resources.In addition, cryptocurrency can become a global means of payment. For its movement does not need to use complex systems. Enough cloud server. While in the fiat world complex schemes are used, for example, Swift. Thus, the movement of money becomes not only very long, but also expensive.The nuances or some of the shortcomings of digital assets There is nothing universal and together with the question: “why cryptocurrency?”, They also ask the question: “why not use cryptocurrency”,Existing shortcomings: Lack of regulation - until the authorities of the countries accept cryptocurrency as a means of payment, and in this area there are no clear legislative mechanisms (which at the same time will not level the principles of cryptocurrencies), there is no need to talk about the reliability of digital coins; The likelihood of losing keys from wallets and other risks associated with storage - so far, you can store currency either on exchanges or on cryptocurrency wallets. But the problem is that no one is responsible for the loss of user funds (as, for example, it is in banks) and so far the maximum that threatens exchanges and wallets, even if they want to appropriate the funds of their users, is a loss of reputation ;Coin volatility - volatility is increasing due to low liquidity. Therefore, until cryptocurrency is widely used among the masses, there will always be risks associated with strong price spikes. And of course, it is worth mentioning the limited issue, which is good on the one hand, and on the other hand, mining with each mined coin is complicated and becomes less accessible. Also, the cryptocurrency world is an “untouched field” of activity for criminal structures. They can use anonymous systems for criminal purposes, which damages not only the economy, but also the security of entire countries. The opinions of experts The opinions of financiers, analysts, traders and many other experts in the field of finance and cryptography are divided. By the way, the statements of many of them significantly affect the pricing of bitcoin and altcoins.Is cryptocurrency needed in the future? Why cryptocurrency? Because it is the future of all macroeconomics and social aspects of life. Although this is not the near future, however, the blockchain technology is being improved every day, and soon it will become irreplaceable literally in any field, thanks to its flexibility and other advantages. Therefore, cryptocurrency is worth buying, studying, using today. So far, there is every chance to join the cryptocurrency world, start making money on it and become part of the future now.
  10. The exchange rate of a currency such as Bitcoin is formed due to active demand, as is the case with other foreign exchange assets. But since bitcoins have a low overall capitalization, massive excitement and large players strongly influence the exchange rate of bitcoins. Global demand and decline of any electronic currency occurs regularly, and this depends on the willingness of users to buy electronic currency. The rate of a cryptocurrency such as Bitcoin is growing with high demand for any cryptocurrency. If there are players on the market ready to buy this currency, then the rate will constantly grow. Now it’s hard to say exactly when the price will change dramatically.
  11. Whether or not bitcoins in 2019: the pros and cons From the release of the first issue to today, the number of bitcoins has increased significantly. Therefore, for many, the question of whether to buy this currency is simply not worth it. However, this approach is not always true. Initially, when creating bitcoins, their limit was set, which can be released - 21 million. It is assumed that in the near future the problem of cryptocurrency will be as close as possible to this figure. It is not known what will happen after this. Some experts predict the collapse of bitcoin. Others suggest that when the maximum emission level is reached, the cryptocurrency rate will begin to change in about the same way as the real ones - move up and down under the influence of various factors. Therefore, do not make hasty conclusions about whether to buy bitcoins in 2019. It is best to first weigh the pros and cons. Firstly, we give a rationale for those who call for cryptocurrencies: Recently, large investors have begun to show serious interest in bitcoins. They treat him as a potentially profitable asset, investing in it. Many experts believe that this approach will lead to a further increase in the exchange rate, and recommend investing in bitcoins in 2019. . The gradual legalization of cryptocurrencies, as well as rumors that some global central banks plan to introduce bitcoins into foreign exchange reserves, fuel demand. In combination with limited emissions, this leads to an increase in value. There is an opinion that by the time of approaching the maximum emission, the demand for untwisted bitcoin will be huge. Due to insufficient supply in the market, by this time the price of cryptocurrency will be huge. Therefore, defenders consider the current moment ideal when it is better to buy bitcoins. Despite the rather serious arguments in favor of investments, there are a number of circumstances in connection with which, when answering the question whether to invest in bitcoins today, some experts firmly say “no”: Some “professionals” still believe that in most cases, only marginals and criminals use bitcoins. The likelihood that the cryptocurrency will turn out on a par with paper money is small. Too high volatility and low predictability lead to the fact that bitcoins can not only earn huge sums, but also incur losses. Lack of communication with the real world. In fact, bitcoins exist exclusively in the form of computer code. In case of problems with their sale, no one will ask for protection.
  12. The New Zealand Tax Authority recognized the receipt of income in cryptocurrencies by hired employees and published a guide on its taxation. Thus, in digital assets, only half of the salary can be received in relation to its size or fixed rate. Note that all income earned by employees in cryptocurrency is subject to taxation, including remuneration for services, bonuses, commissions and gratuities. However, the new rules do not apply to self-employed taxpayers. At the same time, in order for the cryptocurrency received by the employee to be taxable, it must be available for conversion into fiat funds and not have restrictions associated with its immediate spending. We are talking about native digital currencies of peer-to-peer payment networks (such as bitcoin), and not about utility tokens of individual services or security tokens of individual companies. Recall that in 2017, the New Zealand Financial Regulatory and Supervision Authority equated cryptocurrencies with securities. Earlier, a bill was introduced in the US Congress proposing to remove cryptocurrency operations from double taxation. In particular, the document provides for amendments to the Internal Revenue Code, according to which digital currencies will not be considered property. It is worth noting that in July, the US Internal Revenue Service (IRS) sent letters to more than 10 thousand investors with a request to report on income from operations with cryptocurrency. It is known that the department is developing a new guide to cryptocurrencies. In addition, recently the UK Internal Revenue Service sent letters to the cryptocurrency exchanges Coinbase, eToro and CEX.IO demanding to provide users with personal data and their transaction history. Nevertheless, representatives of CEX.IO emphasized that the request of the agency applies only to residents of the United Kingdom. In the Canadian province of Ontario, meanwhile, a pilot project has been launched, under which residents will be able to pay property taxes with cryptocurrency.
  13. Bitcoin wallet - an electronic image of a device for storing banknotes of electronic cryptocurrency Bitcoin. A key is stored there that allows you to manage virtual money. Typically, the keys are stored in an encrypted wallet.dat (wallet) file that is password protected. Most popular wallets: Bither Greenbits, MultiBit HD, Armory Blockchain mSIGNA, Bitcoin Wallet, Copay Coinbase Coinkite, Circle Snapcar, BitGo GreenAddress, Hive Strongcoin, Xapo, Bitcoin core Electrum, Airbitz breadwallet, Mycelium. Bitcoin wallet on computer You must download the application. Keys are stored locally (if HD wallet technology is not used). Such wallets are: thick - you need to download the entire chain of blocks and download new ones (the most reliable option); thin - you don’t need to download full chains, so it’s convenient to use on smartphones and tablets, but one hundred percent security is not guaranteed. Online Bitcoin Wallets It is not necessary to download absolutely all network blocks, that is, save time and device memory. You can manage it remotely (via the Internet), save the addresses of other wallets, transfer bitcoins. Notifications are often provided. There is a risk of service hacking and theft of virtual money. Experienced users recommend storing small amounts for a short time. Mobile Wallets They give access to bitcoins using devices based on iOS and Android. The technologies of reading and recognizing QR codes or NFC (Near Field Communication) are used. Bitcoin Wallet is a standalone wallet for Android. The balance is displayed in different formats and currencies. Addresses are saved. Allows you to pay via Bluetooth, sends notifications about the receipt of bitcoins.
  14. Bitcoin, or bitcoin [⇨] (from the English Bitcoin, from bit - bit and coin - coin), is a peer-to-peer payment system that uses the unit of the same name to account for transactions. Cryptographic methods are used to ensure the functioning and protection of the system, but at the same time, all information about transactions between the system addresses is available in open form. The minimum transmitted value (the smallest crushing value) - 10-8 bitcoin - was called “satoshi” in honor of the creator Satoshi Nakamoto, although he himself used the word “cent” in such cases. An electronic payment between two parties occurs without intermediaries and is irreversible - there is no mechanism for canceling a confirmed transaction (including cases when the payment was sent to an incorrect or non-existent address, or when the transaction was signed with a private key that became known to others). Nobody can block (arrest) funds, even temporarily, with the exception of the owner of the private key (or the person to whom he became aware). But the provided multi-signature technology allows you to attract a third party (arbiter) and implement “reversible transactions”. Using a special scripting language, it is possible to implement other options for smart contracts, however, it is not accessible from the graphical interface and is not Turing-complete, unlike newer blockchain systems. Different authors classify bitcoins in different ways. The most common options are: cryptocurrency, virtual currency, digital currency], electronic cash. Bitcoins can be used to exchange goods or services with sellers who agree to accept them. Exchange for regular currencies occurs through the online digital currency exchange service, other payment systems, exchange offices or directly between interested parties. The commission for operations is appointed by the sender voluntarily, the size of the commission affects the priority in processing the transaction. Typically, the client program tells the recommended size of the commission. Transactions without a commission are possible and also processed, but are not recommended, since their processing time is unknown and can be quite large. One of the main features of the system is complete decentralization: there is no central administrator or any analogue of it. A necessary and sufficient element of this payment system is the basic client program (it has open source code). Client programs launched on many computers are connected to each other in a peer-to-peer network, each node of which is equal and self-sufficient. It is impossible to publicly or privately control the system, including changing the total number of bitcoins. The volume and time of the release of new bitcoins are known in advance, but they are distributed relatively randomly among those who use their equipment for calculations, the results of which are a mechanism for regulating and confirming the legality of operations in the Bitcoin system. In short, Latin BTC is often written instead of “bitcoin”. Such a record is similar to currency codes, however, a similar code has not yet been assigned by the international standard ISO 4217. On October 7, 2014, the Bitcoin Foundation announced plans to standardize code for bitcoin. The BTC record contradicts the standard system - to name “global goods” starting with X (for example, gold has the XAU code). An XBT option is being considered as a candidate. When specifying BTC or XBT, it means the unit of account, and not the network, the set of algorithms, or any other entity related to this topic. The Bitcoin sign BitcoinSign.svg is included in the Unicode standard version 10.0, it is assigned the number U + 20BF. Sometimes the symbol ฿ is used - the Thai baht sign, but it is not supported by all encodings and fonts. The URI scheme "bitcoin:" for operations with bitcoins via hyperlinks is officially included in the WHATWG specification for HTML5. Bitcoin is also planned to be added to the list of currencies in Microsoft Excel 2016
  15. The price of Bitcoin is unlikely to rise to 40 thousand dollars by the end of 2019. This conclusion was reached by investor Trace Meyer. Judging by the behavior of the asset over the past few months, its value will reach a historical maximum by December. Crypto enthusiasts can expect a price increase of up to 21 thousand dollars, while in such a short time Bitcoin is unlikely to reach high heights. Today, cryptocurrency is trading at $ 10,876. Over the past day, its value increased by 1.7 percent. Recall, the previously well-known trader Peter Brandt said that in this bullish cycle, Bitcoin could grow up to 100 thousand dollars in the foreseeable future. Tuzemun borders Meyer's forecast is based on the metric of the same name - the Meyer multiplier. This indicator is calculated by dividing the current market price of Bitcoin by the value of the moving average 200 SMA in the scale of a 1-day chart. Now the multiplier is 2.09, which can be interpreted as a low probability of an asset growing too fast. Recall that earlier co-founder of the Gemini exchange Tyler Winklevoss said that after overcoming the level of 10 thousand dollars, Bitcoin without any problems will grow to 15 thousand dollars. Note that this level is the nearest important mark for bears. This is where a new deep correction of Bitcoin can begin. The Meyer multiplier suggests that the bulk of the BTC price movement on this bullran will happen next year. Exactly one year later, cryptocurrency will reach 30 thousand dollars. This year has become very significant. After the hi-tech rise of Bitcoin in 2017 and a rapid fall in 2018, 2019 showed that the first cryptocurrency is able to survive such a “swing” and recover like a phoenix from the ashes. The industry is entering a new round of its development: this is no longer an obscure geek toy that can be mined on the processor of your home PC. Bitcoin is a real product that is used. Yes, mostly in the black market, but this is only the beginning of the journey. Giants entered the game, and exchanges and various services grow around the cryptocurrency infrastructure like mushrooms after rain. At the same time, do not forget that to create any service you need money and not small ones. For example, how much does it cost to create a Gemini or Coinbase? Millions of dollars. And people who have money are ready to invest these millions in services around cryptocurrency. Even after the fall of 2018. Bitmain is going for IPO, Facebook launches its cryptocurrency, the US State Department and other countries consider cryptocurrencies as a new tool in the securities market. Does that sound like death? I doubt it. Rather, cryptocurrencies are entering a new stage: big uncles became interested in them and now they will make real work products. Will there be growth? I hope no. 20 thousand dollars by the end of the year is the maximum that I would like to see with a successful news background. It must be understood that the same ban on cryptocurrencies in India or another country can bring down the course in a matter of days. Better a good flat with fouling with new services than a sharp increase, which will necessarily lead to a sale. Such marks as 10, 15 and 20 thousand dollars are triggers for sale, it will be very difficult to overcome them. People didn’t get bitcoin evenly: who previously found out about it and was able to mine on a home processor, now has huge reserves of coins. These people will go out at these levels, because they have enough money for the rest of their lives. The industry will have to accept these kickbacks and make its way further - and this is already a matter of global interest in cryptocurrencies. I hope such huge companies like Facebook will bring cryptocurrency information to billions of people. And in a good way.
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