Bitcoin, which was worth around $ 3,000 in mid-November 2017, reached $ 19,000 on December 6. As we prepared these news, the value was at around fifteen thousand dollars level. But in this world there are not just bitcoins, there are hundreds of different units that work with similar logic and are used for different purposes.
What do experts call the blockchain technology that underlies the crypto field as the highest information age?
Is the event really connected to Bitcoin or is it just an example?
These questions have recently been intrigued or need to be manipulated by most people. Because we need to learn as a citizen and contemporary in this process, which also extends to technology literacy.
Basic system: block chain
Bitcoin, like all crypto currencies, is based on a secure system called Block Chain. We've written about the home page, which is the most valuable cryptocurrency after Bitcoin. In the following article, we tried to explain the logic of the system in our article, which we refer to the basics of Blockchain.
Bitcoin can be used technologically in the form of local currencies, even though centralized banks and state-controlled economies have developed. Of course, this discourse applies to all other blockchain-based crypto-boxes as well.
David Yermack, a lecturer at the Department of Business Administration at New York University, says cryptographic currencies can be used as national currencies within 50 years. We refer to the logical reasons for this interesting claim.
Will we be with Bitcoin in the future?
"Bitcoin was created to work outside national currencies, which is an ideal solution for people who do not trust central banks," says Jermack.
The fact that investment transactions are so easy even on mobile phones has allowed Bitcoin to reach higher levels than most of the country's investment value. and even more valuable than the national reserves of countries such as Venezuela and Zimbabwe.
However, there are some obstacles to Bitcoin's ability to become a standard currency. While only 7 bitcoin operations can be performed in Saniy, only 65,000 transactions are executed in the same time by VISA-tagged systems.
Bitcoin has a software process and a production limitation. This prevents it from being an alternative to national currencies. On the other hand, investors are anonymous and the use of illegal transactions is therefore at risk.
Of course, this is the institutional trust of the states we trust. However, we already see that even the current national money can be burdened with corruption and horticultural claims. That's why some experts say it makes sense to ignore the loss of corporate confidence in Bitcoin.
On the other hand, Bitcoin and other cryptocurrencies are much more flexible than standard currencies. In other words, they can experience faster increases and decreases, sudden increases or decreases. Therefore, we probably will not see Bitcoin as a nationally recognized entity in the future. But it seems to be considered a valuable investment vehicle for a while.
Here we talk about the financial systems to be changed, insights into banking and even about the level of financial competence with which each individual can control their own investments. If we can replace systems based on the blockchain, if the tag comes with existing systems, these possibilities seem very logical.
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