Topic: Bitcoin is crashing due to the falling price? - page 8. (Read 2112 times)
Bitcoin has come to stay, it can only deep to go to the moon. People should be wise and librate themselves from financial slavery by learning how bitcoin works and get into the business.
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Bitcoin has experienced the same thing as many other coins have. However, it is certainly true that Bitcoin is not dead because of some following reasons:
- More people are using Bitcoin
Metrics gauging Bitcoin users and usage all point to a continuous uptrend, albeit with peaks and alleys along the way, just like with any new technology. First, transaction volume per day is probably the most straighforward metric, which is the most important index. Admittedly, the recent drop in volume is significant. However, part of this could be due to the increasing practice of transaction batching, which lowers overall volume.
- Bitcoin will not die although it has fallen to approximately $ 6.000
Although the number of current wallets and addresses is not relevant to the number of users worldwide (because most electronic wallets now consistently generate new addresses and one user can have multiple accounts), it still draws a general picture of the increasing popularity.
Blockchain, one of the most popular Bitcoin wallets, has had a rapid increase in new accounts, with nearly 24 million accounts at the time of writing. In addition, one of the most popular Bitcoin exchanges in the world, Coinbase, has recently reached 20 million users among 35 countries.
With these figures, the number of Bitcoin users is expected to reach 200 million by 2024, according to RT reports.
- The problem of scalability is being resolved well
As Bitcoin experienced a surge in new interest and users, the network became congested, leading to a spike in transaction costs at the end of last year. The adoption of SegWit, a block-weight optimization solution, has not only eased some of the costs for now, but also opened the door for developers to work on layer-two scaling projects.
Specifically, the Lightning Network, as well as other optimizations in the pipeline, such as Confidential Transactions, Bulletproofs is designed to make transactions in Bitcoin and other cryptocurrencies more private and secure, or other optimizations, such as Schnorr Signatures, are expected to make Bitcoin transactions cheaper, faster, and more private in the not-too-distant future
- Hash rate is recorded high
The Bitcoin network hash rate has been constantly climbing to the current record highs. Hash rate is the amount of computing power Bitcoin is using. The current rate is at around 25 million TH/s – a massive amount of computing power. In fact, the computing power required to successfully attack the Bitcoin network doesn’t even exist, making it the most secure and immutable peer-to-peer cryptocurrency network in the world.
It is obviously true that “Bitcoin has achieved a level of computing that no single nation state can overthrow it through computation alone,”.
#Bitcoin
#Rothscoin
Bitcoin has experienced the same thing as many other coins have. However, it is certainly true that Bitcoin is not dead because of some following reasons:
- More people are using Bitcoin
Metrics gauging Bitcoin users and usage all point to a continuous uptrend, albeit with peaks and alleys along the way, just like with any new technology. First, transaction volume per day is probably the most straighforward metric, which is the most important index. Admittedly, the recent drop in volume is significant. However, part of this could be due to the increasing practice of transaction batching, which lowers overall volume.
- Bitcoin will not die although it has fallen to approximately $ 6.000
Although the number of current wallets and addresses is not relevant to the number of users worldwide (because most electronic wallets now consistently generate new addresses and one user can have multiple accounts), it still draws a general picture of the increasing popularity.
Blockchain, one of the most popular Bitcoin wallets, has had a rapid increase in new accounts, with nearly 24 million accounts at the time of writing. In addition, one of the most popular Bitcoin exchanges in the world, Coinbase, has recently reached 20 million users among 35 countries.
With these figures, the number of Bitcoin users is expected to reach 200 million by 2024, according to RT reports.
- The problem of scalability is being resolved well
As Bitcoin experienced a surge in new interest and users, the network became congested, leading to a spike in transaction costs at the end of last year. The adoption of SegWit, a block-weight optimization solution, has not only eased some of the costs for now, but also opened the door for developers to work on layer-two scaling projects.
Specifically, the Lightning Network, as well as other optimizations in the pipeline, such as Confidential Transactions, Bulletproofs is designed to make transactions in Bitcoin and other cryptocurrencies more private and secure, or other optimizations, such as Schnorr Signatures, are expected to make Bitcoin transactions cheaper, faster, and more private in the not-too-distant future
- Hash rate is recorded high
The Bitcoin network hash rate has been constantly climbing to the current record highs. Hash rate is the amount of computing power Bitcoin is using. The current rate is at around 25 million TH/s – a massive amount of computing power. In fact, the computing power required to successfully attack the Bitcoin network doesn’t even exist, making it the most secure and immutable peer-to-peer cryptocurrency network in the world.
It is obviously true that “Bitcoin has achieved a level of computing that no single nation state can overthrow it through computation alone,”.
#Bitcoin
#Rothscoin
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