Bitcoin is the ultimate application of P2P technology, it’ s idea extremely meets the needs of future electronic currency.
A Certain Point : Bitcoin is Revolutionary
Bitcoin is like a unit of measure invented out of thin air. It cannot meet the actual needs that are conducive to the healthy operation of the market. Essentially, it’ s a credit representative recognized by all participating operators.
If your e-wallet information is lost, it will indeed lead to the loss of Bitcoin. However, its currency storage security and convenience are far superior to traditional deposit banks and paper money. (Electronic archives can be backed up an unlimited number of times).
Why Bitcoin is More Secure and Reliable
Bitcoin is a currency comes from thin air without any physical and physical guarantee for it. This is the most questionable point.
When there is a security problem in Bitcoin, it will not be affected by physical existence like gold and silver, but it will affect all holders, and the responsibility of guarantee will be spread to all holders. As a result, no one can be responsible for it.
Therefore, the purchasing power of money should depend on whether people accept its credit guarantee.
People who spend time, electricity, and computing power to produce Bitcoin are speculative in nature.Those who first produced and bought Bitcoin pulled more people in to produce and exchange it, hoping that Bitcoin would appreciate in their hands and sell it to the next. Articles promoting the benefits of Bitcoin will tell you that it will appreciate and appreciate further. Anyway, the sooner you get involved, the better.
Why Bitcoin Can’t Succeed in the Future
First of all, there are doubts about the algorithm: what if the elliptic curve discrete logarithm problem is also solved? When the Bitcoin currency market is enough to impact the real economy, it is difficult to guarantee that no one or the government will control more than 50% of the world’s computing resources to manipulate the currency before all bitcoins are produced.
Therefore, I think the P2P Currency ” Bitcoin”will be volatile in the future, and even very likely will be replaced by the latter. But no matter how the algorithm changes, the basic idea will come from Bitcoin.