Bitcoin vs. Fiat Many

in #cryptocurrency3 years ago

Although Blockchain and its predecessor, Bitcoin, are no longer considered investment vehicles or payment systems by a particular audience, they are still very new technology. There are a lot of roads in front of you and there are some big problems that you will encounter while taking this road.

For example, although the feasibility of one hundred thousand cash withdrawals in TIP has been discovered many years ago, it has been applied for 2-3 years. Because it is not possible to use a treatment method that has not been proven to treat human life and disease. We have also seen in the news that all of our first examples are primitive and that we have made some further progress.

As the financial structures and internet-based projects, the profession mosque does not have any influence on behaving like a Hippocratic bait. ICO projects, which have not yet completed 5% of their promises in their projects yet, and which should be given labor for many years to complete, are investors who can look at the sales stage with very pink glasses. There are also problems in Blockchain, such as the stages of the face transplant. It was explored but more primitive. Now let's take these problems in a few places:

Bitcoin vs. Fiat Many

Indeed, there has been an incredible revolution in which many of the investors who trade in bitcoins or altcoins are unaware. What is this revolution?

It was the first time in world history that "money was printed" in the nature that is not state authority, which is not recognized by any state. There is no precedent in the history of the world that is similar to this before, nor even close to these methods. But this revolution can be called a kind of disability or incomplete birth. Because still crypto money needs a price value of money.

You can not use direct crypt money to get any of the people you need today. The crypto in the hand can be bought and converted into a value in the price of money in exchange for the money. The "xxx" company, which we sometimes read in the news, accepted Bitcoin as a method of payment in purchasing "xxx". In fact, the applications are invaluable in terms of turning this revolution into a practice. But what I mean here is; at the very beginning the price-money option was turned off, directing to areas of use directly.

Of course, the inner voice will be immediately criticized: "Nobody could use it if it were this way". I also question whether I am in the internet-based games of the last century that addicted, "items" accumulated through progress. Why virtual tools are valuable? Why do people exchange these types of products among themselves? Because they need them on the level they belong to. If you draw the boundaries, you can also determine the area of motion!

Scalability Problem

What I mentioned in the first article was the biggest problem of the use of this technology. The biggest problem now known to expert engineers of Blockchain, and to them. Scalability is the ability of an application to bring efficiency gains in proportion to the number of users incremented, which can continue to be usable.

The problem of scalability in the blockade is the increased capacity of the block chain when more miners or masternode join the network. More miners or knots just means more security.

Workarounds have been made to this problem until now. For example, Bitcoin Cash is an example of increasing the capacity of a chain ring and driving it to the market with more processing capacity and speed. But everyone knows well that this is not the real solution. How to find a solution could not be discovered.

Certainly engineers will find a solution in the coming years. They should even find it. Shunki is a problem that is a problem even in the limited use area; it is even possible that there is a danger of coming to the locking phase when future expectations are taken into consideration.

Bitcoin is expected to be the Lightining Network to solve this problem. But how much decentralized the LN system will offer is a matter of debate. Nevertheless, LN is expected to be fully available in the summer of 2018. Anyway, the market needs such an acceleration. With this news, I expect to see a good investment season. But it is worth repeating, both usability is uncertain and the market is not entirely compatible with investment management with these expectations. There are so many unknowns that we are on our way. For example, will the G20 summit in Japan be held this summer, will it be expected to have positive impacts, or will there be any other development? We'll wait and see.

The blockchain problems that can be encountered are very long and I cut them here in order not to squeeze and leave the other articles to the next article. At least this section is the most sinking; we have described the most critical problems in terms of system continuity.


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