Bitcoin is following the same path towards mass adoption as other technologies like the internet and social media.

One can earn money by working, selling things, or exchanging other currencies, similarly, one can earn bitcoins by mining (working in a virtual world), getting paid in bitcoins for selling goods, or purchasing bitcoins by exchanging existing currencies (like US dollars).

Recent developments demonstrate the strong future potential of the currency. And venture capitalists, pouring in large amounts of capital into the currency, are in it to reap a great return from long-term potential.

Using the Proof of Stake (Pos) algorithm that is the basis of many new cryptocurrencies, staking involves the purchase of cryptocoins and holding them in a wallet for a particular period of time.

Mining requires technical know-how as well as computational power so as to solve the algorithmic puzzles involved in blockchain networks.

Bitcoin Core (BTC) was created to function as peer-to-peer electronic cash. Bitcoin Core transactions are messages, like email, which are digitally signed using cryptography and sent to the entire Bitcoin Network for verification. Transactions are public and can be found on the digital ledger known as the blockchain. The history of each and every BTC transaction leads back to the point where the bitcoins were first produced.

Prospective miners use special software to solve math problems and are issued a certain number of bitcoins in exchange. The software complies recent Bitcoin transactions into blocks and proves their validity by calculating a "proof of work," that covers all of the data in those block.

We should try to put in some efforts to understand the technology. The public might think it is hard and too complicated to get the terms and concept and a short run, so we can change their view regarding the crypto world by educating them and also providing knowledge.

The first step in crypto consciousness is understanding the underlying technology - blockchain. Invest only what you're willing to lose, this is because the market is exceptionally volatile, one which is fuel by hype and market sentiments rather than fundamental elements. Also to focus on the long run, especially if you do not have the necessary trading or technical skills.

Bitcoin has been alarming people for years because of the amount of electricity needed to mint new virtual coinage.

Bitcoin and most other cryptocurrencies are founded on the notion of an immutable ledger, called the blockchain, which comprises the transfer of value from one party to another.

Cryptocurrency “miners” seek results to a kind of algorithmic puzzle that fits a very specific set to requirements. Every ten minutes on average, a server finds an acceptable solution, and the miner gets a reward from the bitcoin system.

The miner’s combination of solution and transactions is also added to the blockchain. The new block does not become a de facto part of the ledger until a few more blocks are added, because valid solutions are sometimes found simultaneously, and it is not always clear straightaway which will become the longest, winning fork in the chain.

To ensure that coins cannot be minted too quickly, as the overall network’s computational power increases, the bitcoin protocol continually makes it harder to find a putative solution. Miners are obliged therefore to keep upgrading in order to earn rewards as fast as competitors. And more computing power requires more electricity.

The basic purpose of blockchain is to keep all the record updated, all its execution, the authentication while the Al will help in making a decision, assessing, and going to help in simplifying the independent interaction.

Putting blockchain and Al aims is to increase the security of systems by placing key aspects of decision-making in the blockchain rather than individual machine learning systems.

The downside for using blockchain is its inherent inefficiency. Blockchain technology is not optimized for speed or compute efficiency. This is actually a feature of the system, not a bug. As such, blockchain systems can’t be placed into the execution stream of decision-making without slowing down the process.

Blockchain and Al are two technological trends which have the potential to become even more revolutionary when put together. Both can enhance the capabilities of the other, while also offering opportunities for better oversight and accountability, as well as improving the level of trust, transparency, adoption, and communication.

Bitcoin is not just a cryptocurrency, but also a new financial system comprised of many components. It was invented in 2008 by the mysterious Satoshi Nakamoto and released shortly after the public. Most importantly, Bitcoin is not controlled or owned by any individual, corporation, or government. It extensively uses cryptography and relies on a peer-to-peer network.

Bitcoins derive their value party through their scarcity, which is defined by a cryptographic lottery. You can either buy Bitcoins on online cryptocurrency exchanges or you can earn them through a process known as “mining’.

China holds threatening influence over Bitcoin - perhaps even the ability to attack and ultimately destroy the entire Bitcoin network.

They have the capability and strong motives to perform on variety of attacks against Bitcoin. Even worse, it is already exerting its power over Bitcoin in a myriad of ways.

Research shown that the Bitcoin mining ecosystem has become heavily centralised. The level of centralisation found in the Bitcoin mining ecosystem is the biggest issue for the peer-to-peer digital cash system today. As a technology depends on decentralisation in order to provide a censorship-resistant bearer electronic, any trend towards centralisation should be viewed as problematic. Having so much mining power centralised in any single country exposes the Bitcoin network to a worrying degree of political risk. This can be seen as a threat to china’s economy or a competitor to their own planned digital currency, they could wreak untold havoc in the Bitcoin ecosystem.

Cryptocurrency miners have banded to such an extent that over 80 percent of Bitcoin mining is performed by six mining pools, with five of those managed directly by individuals or companies based in China.

Chinese mining pools control more than 70% of the Bitcoin network’s collective hash rate. Not only does China manufacture most of the world’s mining equipment, but massive mining farms are located there to take advantage of extremely cheap electricity prices.

The fact that Chinese mining pools control so much of the Bitcoin ecosystem has direct consequences.

In my opinion, china will have the upper hand in making a huge impact on Bitcoin.

Bitcoin offers an efficient means of transferring money over the internet and is controlled by a decentralised network with a transparent set of rules.

Bitcoin will obtain its value both from its use as a medium of exchange and as a store of value. This will show that bitcoin’s utility as a store of value is dependent on its utility as a medium of exchange.

For something to be used as a store of value it needs to have some intrinsic value, if Bitcoin does not achieve success as a medium of exchange, it will have no practical utility and thus no intrinsic value and won’t be appealing as a store of value.

From my point of view, is that as Bitcoin gains legitimacy, larger scale investors, and more adoption. Its volatility will decrease to the point that volatility is not a concern that would discourage adoption.

I will invest in a new cryptocurrency, there are more promising cryptocurrencies other than Bitcoin.

Both centralized and decentralized networks currently exist in popular platforms, both currency in the crypto community has been a debate. The benefits and drawbacks have been widely discussed and amongst coin enthusiasts.

There’s a new form of crypto emerging, a hybrid cryptocurrency. A hybrid cryptocurrency is one that takes the best parts of both centralized and decentralized currencies. 

Blockchain itself can be a never-ending process, its just depending on how fast the person is doing the codes.

Prices are based on Bitcoin as a gold standard because Bitcoin is the first mainstream cryptocurrency.

Cryptocurrencies were designed as a unit of exchange and as a place to store assets without relying on a central bank. Bitcoin is often seen as the ‘reserve currency’ of the cryptocurrency world. Rises and falls to the price of bitcoin often has a knock on effect with other cryptocurrencies. As bitcoin was the first mainstream cryptocurrency and is the most supported, the price of bitcoin can often influence the other cryptocurrencies.

While having wider adoption of cryptocurrencies across the world that has led to greater innovation, is vital to running businesses and societies. It is essential to have regulation, supervision and global coordination.

Bitcoin is the first cryptocurrency, despite the rise in Altcoins, Bitcoin still has the advantage of being widely recognized.

Blockchain will definitely create a better world as it provides transparency, the mechanism is designed to make everyone accountable, ensuring that there's no missed transactions or machine errors!

This is a very good idea, to have time turned back to see how it was first invented!