Faisal KhanBitcoin est la meilleure chose qui puisse arriver à l’humanité depuis le pain tranché.
Répondu il y a 248w · L'auteur dispose de réponses 5.4k et de vues de réponses 16.5m
There literally so many point. Everyone (who is curious about Bitcoin) knows about the limited circulation, and that its Internet money, and its market cap is so and so, here are some pragmatic points for the world on the whole:
- First and foremost it is a protocol
- The first app developed for this protocol happens to be money, the Bitcoin money!
- Transactions are irreversible
- The ledger is open for all to see (with regards to a transfer between wallets)
- Despite the ho-hah, many people don't know how to Buy bitcoins!
- For international users (read: outside the US, Canada, UK, etc.) the process to buy Bitcoins from an exchange can take between 5-10 days (to get verified and for funds to be realized)
- The best way to get bitcoins is to sell a product and/or a service and receive the payment in Bitcoins
- Despite the progress made by companies such as Bitpay and Coinbase, accepting Bitcoins (for merchant) without the volatility in its price, is not available to the most of the developing world (very few countries are covered)
- The transaction is almost instantaneous, 10 minutes for a transaction to be confirmed.
- The transfer itself has no bearing on the value, you can transfer US$ 1 or US$ 100 Million, Bitcoin makes it seamless. Only the exchanges and transfers onto other currencies is where the fees are applicable. In some cases online wallet companies may also impose a fees.
- The process of owning, trading, buying/selling bitcoins is still a little complicated for the general public use.
- Bitcoins are stored in wallets. If your wallet is compromised, your money is gone. Period.
- No one controls it. (despite this being covered in so many articles, people keep asking, well someone has to control it).
A post I did on Bitcoins recently is worth a read: Bitcoins: Everything you wanted to know about Bitcoins, but were afraid to ask! by Faisal Khan on Payment Systems
Kayee Tong, Expert en technologie Blockchain classé par 5 chez Clarity
Répondu il y a 1w · L'auteur dispose de réponses 2k et de vues de réponses 5.5m
A lot of people have misconceptions of what Bitcoin really is. Pundits misconstrue some of its features as disadvantages. The easiest way is to get it from the first-hand source. You’re also welcome to read the open source code, it is fully transparent and available online.
Satoshi Nakamoto, the creator of Bitcoin, has pretty much covered what you should know. Keep in mind, this was written well in the past with forward-looking statements in 2009. They still apply today.
La source: Emails | Satoshi Nakamoto Institute
Bitcoin’s mission is clearly against the central bank bailouts, as stated in the genesis block:
Le chancelier Times 03 / Jan / 2009 au bord du second plan de sauvetage pour les banques
The problem of Centralized Fiat Currency:
“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”
Electronic currency will be adopted:
“I would be surprised if 10 years from now we’re not using electronic currency in some way, now that we know a way to do it that won’t inevitably get dumbed down when the trusted third party gets cold feet.”
Sound, programmable money:
“With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless.”
Bitcoin was intended to have irreversible transactions as an advantage:
“The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for nonreversible services. With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable.”
Bitcoin was not intended to be fully anonymous:
“Bitcoin is still very new and has not been independently analyzed. If you’re serious about privacy, TOR is an advisable precaution.”
Bitcoin is not a stock and was not intended to be traded as a stock, more like a commodity (CFTC has oversight):
“Bitcoins have no dividend or potential future dividend, therefore not like a stock. More like a collectible or commodity.”
There are a few other things you should know that is relevant today in practical terms:
- Take security precautions. Two-factor authentication with Authy is bare minimum for anything you use, and it’s what you should be doing anyways for your non Bitcoin related emails and accounts. It’s surprising that most banks use inferior security measures compared to cryptocurrency exchanges.
- You should consider eliminating counterparty risk with a hardware wallet if you plan to hold any cryptocurrency. Choose a custodian carefully, because centralised exchanges are susceptible to security flaws.
- The Bitcoin network itself is extremely secure. There is essentially a billion dollar plus bounty to anyone that can hack it. Considering a high profile among top hackers for years that nobody has been able to claim, that’s more secure than the SWIFT network underlying big banks that got hacked for a hundred million USD before.
- Well defined regulations are in place already and Bitcoin is getting more integrated to the financial system than most think (See CME/CBOE/Nasdaq futures, SEC Bitcoin ETF applications, Bitcoin trusts, NY government issued Bitlicense for exchanges, NYSE owner launched custodian Bakkt etc). It’s a lot more mature than before, and most countries have been very neutral with regulation by only providing caution and taking steps against fraud, despite what some suggest such as “making Bitcoin illegal” (entirely false). Some are positive on Bitcoin. It is not illegal to own and use Bitcoin in China. Only a few extremely desolate poor corrupt countries have made Bitcoin illegal: https://www.perkinscoie.com/en/n...
- Bitcoin can be scalable. Lightning Network and Segwit is strong real world evidence it can really work and possibly overtake VISA someday. Ignore those who tell you it is “impossible” to scale, chances are they do not have enough technical knowledge on the subject.
Wellington W. Sculley, Aider les institutions financières à utiliser la technologie de grand livre distribué depuis 2013
Répondu il y a 74w · L'auteur dispose de réponses 377 et de vues de réponses 746.5k
I think it’s worth highlighting 3 aspects: 1) It’s not that complicated, 2) it was the first, but isn’t all that great, and 3) it’s not as scalable as you might think.
OK, diving in…
First, Bitcoin isn’t as complicated as most people think.
The reason it seems complicated is because people who talk most about Bitcoin are either overly focused on the technical details because they have an engineering background and are excited about the technical innovations. Or else they are trying to make Bitcoin appear more valuable than it is because they have invested in Bitcoin and are excited about growing their investment.
Second, Bitcoin is the first and most popular implementation of a database that relies on a consensus-driven process to write changes to it.
That’s about it. It doesn’t sound very interesting, but it has a lot of implications for specific use cases (like some types of value transfer). However, since Bitcoin came out, many more implementations have emerged that are superior for certain use cases.
Third, Bitcoin is not scalable the way that many people claim it is.
The low throughput rate (you’ll usually hear “7 transactions per second” or similar) is accurate. Bitcoin will never be able to increase this rate without making drastic fundamental changes to how it works. Even if these changes do occur, the result would end up looking similar to newer blockchain implementations like Ripple Consensus Ledger from 2012. To compare the two: Bitcoin has generated about 0.5 million transaction sets since 2008, whereas RCL has generated a little under 30 million transaction sets since 2013. If I were betting on Bitcoin to scale (which is a requirement for most of the use cases many supporters promises it will fulfill), I would be very concerned.
Thomas Miller, Commerçant d'options, économiste, nerd mathématique
Répondu il y a 1w · L'auteur dispose de réponses 2.6k et de vues de réponses 1.9m
Bitcoin is not nearly as anonymous as it has been claimed.
Bitcoin is not even remotely as decentralized as it would have you believe. There is a core development team, and trusting the protocol means trusting that team.
Bitcoin, nor any other existing cryptocurrency in its current form, solves all the problems of being money. At best they are poor complements to the system, valuable only for transfering money across borders, or facilitating criminal activity. Some day, someone will develop a crypto or set of cryptos that cannibalize the rest of the industry, and truly complement finance, but they don’t exist yet.