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know little about why the bitcoin is negative to the media crew, Because the government thinks that Bitcoin has no formal basis and regulatory authority, bitcoin is prone to be misused for illegal transactions, money laundering, and financing of terrorism. There it is affirmed that all transactions conducted in each region are required to use their own currency. The circulation of bitcoin is also illegal because it is not reachable by the Central Bank.
This has the potential to cause bubble. Therefore, the transaction of speculative virtual currency values. Not only harm the society later, such transactions can also disrupt the stability of the state financial system.
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With the age of bitcoin is still relatively new but already so many people around the world have it because of the benefits that can be obtained by using bitcoin and his friends, I personally think the existence of cryptocurrency will still be long with the possibility of developing.
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Why many banks hate cryptocurrency? Due to its democratic nature without centralized, portable and anonymous banks it implies a threat to the power of the state bank and government against the monetary transactions of its citizens. This system takes central bank control over inflation or deflation by manipulating supplies. In the absence of a single authority, this digital currency is based entirely on math and consensus calculations; you can not prevent people from using bitcoins, can not cancel a transaction or refuse a bitcoin transaction because of its one-way nature.
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BitCoin is a technological tour de force, which means as an outstanding technological achievement. As long as there is only 1 user, BitCoin users on the internet then bitcoin network will not down because of the decentralized server nature, BitCoin circulation around the world is recorded by a blockchain algorithm that allows each user to monitor or see the total supply of circulating BitCoins and transactions in their digital network in a transparent manner. I think no one can predict the BitCoin price exactly because it all depends on market conditions.
the popularity of digital currencies such as Ethereum, Ripple, and Litecoin also began to undermine market share. BitCoin Transactions are getting bigger and slower transactions are referred to as the reason for the growing demand for other digital currencies.
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Studying blockchain at first will lead to a little confusion. Just like the beginning I studied blockchain is quite very confusing. blockchain is a data structure that can not be changed can only be added only. Each data from this blockchain is connected where if there is a change in one of the data block it will affect the next data. With this blockchain every transaction from bitcoin is stored in an Open Ledger (Ledger) which is distributed into bitcoin networks. Each blockchain will be distributed to each computer connected to the network. In each addition of data there will be check whether the data is valid or not which is usually called mining process or known in other term Proof of work.
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just a little explanation, Ethereum is a decentralized platform that can run smart contract, an application that can run itself according to programming without any downtime, censorship, fraud or interference from other parties.
Like Bitcoin, Ethereum is a scattered public blockchain network. Although there are many technical differences between Bitcoin and Ethereum, the main difference is its purpose and function. Bitcoin offers a peer-to-peer electronic money system for Bitcoin payments or transfers. While Ethereum focuses its blockchain to run a decentralized program, including one payment or an Ether transfer.
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Bitcoin is one of the most widely used and well-known use of blockchain, Ethereum is probably one of the competitors that has the potential to beat the value of Bitcoin.
Ethereum was developed to improve and improve Bitcoin, extending its capabilities. The main thing is the development in showing a clear "smart contract". Decentralized deals and self-executions are encoded into the blockchain itself.
What Bitcoin has done for payment and money by utilizing blockchain technology, Ethereum can work on applications of all shapes and sizes.
With built-in scripting languages and distributed virtual machines, smart contracts can be built to run all sorts of functions. This, without requiring a trusted third party or central authority.
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