What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.
Bitcoin is a digital currency that is using blockchain technology. People treat it as either a currency and as an investment but majority prefer as investment. I actually use Bitcoin in both transactions depending on my wants and needs. Here in my country we are able to pay goods and services online with the help of our local exchange wherein merchants accepts Bitcoin payments and it is very convenient. 
Topic: Is Bitcoin technology and as a currency different? - page 2. (Read 10969 times)
Bitcoin is more of a currency then it is a technology,
Bitcoin is not a technology but blockchain is . bitcoin is not also MORE of a currency because people mainly uses it as an asset tool to be able to use on trading and investing because they want to earn a profit .
You can't stop people that looks only to the price of bitcoin as if its the indicator on how it is valuable.
Bitcoin is valueable not because of its price but because of its feature and characteristics in which it can be used on multi instances . the reason why people look on the price of bitcoin is because of the profit . they sees bitcoin as a profitable investment due to its high value that can potentially grow more in the future .
The application of the blockchain technology is overshadowed by the significant price of bitcoin in the market. Not to mention, its legal status on some countries is still a gray-area which hinders it from being developed and implemented. The potential of the blockchain technology is limitless since this will remove the need for a third-party consensus and trust.
Imagine this scenario: you visit to your local grocery shop and check the items available for purchase. Every item in the market has a QR code which can be scanned to identify the manufactured date and all the details during the time it was first processed. In that way, you could see every detail that in the item which cannot be erased or hampered with fake information.
That my friend, is one of just the few application of the blockchain technology in our daily lives ASSUMING that we implement its features.
The blockchain tech is amazing for digital goods, however, I don't think it's as effective for physical goods as you make it out to be. There would have to be an absolutely massive data bank in order to store all of the information for each QR code, and you could likely achieve the same result by just adding the supply chain information to the public domain for each product. Of course, a lot of companies wouldn't like that, for various proprietary reasons, so it would be hard to implement. The cost/benefit for adding blockchain tech to physical goods just isn't there, and I can't see a lot of companies even beginning to consider implementing it. Banks and other financial services could benefit greatly from implementing the blockchain tech, as it would allow consumers to identify where their money goes and how it's stored. Imagine this scenario: you visit to your local grocery shop and check the items available for purchase. Every item in the market has a QR code which can be scanned to identify the manufactured date and all the details during the time it was first processed. In that way, you could see every detail that in the item which cannot be erased or hampered with fake information.
That my friend, is one of just the few application of the blockchain technology in our daily lives ASSUMING that we implement its features.
There was even a bank in the UK, if I remember correctly, which had implemented the blockchain into gold trading so that users could purchase portions of gold bars and have a fundamental identifier that they owned the specific portion. I think that's one of the best implementations of the blockchain that I've seen so far, and certainly the most practical.
What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.
People understanding bitcoin is introduce by the creator nakamoto satoshi as new currency using new technology as digital money for the convient of all users for fast transaction. And people buying ang holding bitcoin because of people believe hodling of this new currency will give better earnings in the right time.
You can't stop people that looks only to the price of bitcoin as if its the indicator on how it is valuable.
Blockchain is the technology and bitcoin itself is the currency, they have relation to each other and like the other tech experts says, blockchain adoption would lead to bitcoin adoption.
That’s true because people only wants to make money and they really use the technology of bitcoin as it is. Bitcoin has its own blockchain technology and that’s why it is being adopted too. Just like the XRP where banks uses its blockchain system, and they have to have XRP too. There’s no big difference but it can mislead people when they don’t understand both of this. Blockchain is the technology and bitcoin itself is the currency, they have relation to each other and like the other tech experts says, blockchain adoption would lead to bitcoin adoption.
The application of the blockchain technology is overshadowed by the significant price of bitcoin in the market. Not to mention, its legal status on some countries is still a gray-area which hinders it from being developed and implemented. The potential of the blockchain technology is limitless since this will remove the need for a third-party consensus and trust.
Imagine this scenario: you visit to your local grocery shop and check the items available for purchase. Every item in the market has a QR code which can be scanned to identify the manufactured date and all the details during the time it was first processed. In that way, you could see every detail that in the item which cannot be erased or hampered with fake information.
That my friend, is one of just the few application of the blockchain technology in our daily lives ASSUMING that we implement its features.
Imagine this scenario: you visit to your local grocery shop and check the items available for purchase. Every item in the market has a QR code which can be scanned to identify the manufactured date and all the details during the time it was first processed. In that way, you could see every detail that in the item which cannot be erased or hampered with fake information.
That my friend, is one of just the few application of the blockchain technology in our daily lives ASSUMING that we implement its features.
What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.
May we could oversee the main reason for creation because it mostly considered as a investment rather to be of a currency. This is just for this time since only few establishments are accepting this as a mode of payment but it could be possible that it turns into the specific place it belong.But for now, we have to take this opportunity to have this as an investment and to gain money while we it have to be in adoption process cause later part, it possible we can't make it.
What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.
Bitcoin's very unique every time its value can change very extreme this thing is far different from the money created by the government or the bank, besides that every bitcoin transaction's certain to be marked with a unique digital signature. Although the value of bitcoin's famous for being the most extreme, in fact this thing is the main attraction for a large number of investors or those who are good at managing finances and can manage risk well. IMO, Hodl is just another form besides for transactions (as the ultimate goal of bitcoin), this happens together with the emergence of a government ban, which prohibits bitcoin if used as a medium for transactions.
Of course, Bitcoin technology is different from currency. At a minimum, this all happens on the Internet and you can track it, unlike currency. But the currency has its advantages. She has existed for so long.
What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.
Have you seen how many people exist in this forum? Have you ever wondered how many people in the world use bitcoin? now imagine if everyone in the world using bitcoin would only be able to help bitcoin code and not care about the price, what would happen? few people would be attracted to bitcoin... the reality is obvious: high volatility is what attracts people to enter the crypto world and buy bitcoin. There's nothing wrong with that. there are people who help with the code and there are people who are looking for profits.
There are lots of topics about the technological.
OP must have forgotten this
Bitcoin is more of a currency then it is a technology, bitcoin is not fully a technology but the blockchain is the technology that back bitcoin up. Bitcoin is a digital currency which is traded on the world exchange market which it a commodity that have huge value against other currencies on the exchange market, so to me bitcoin is a full currency.
There are lots of topics about the technological and monetary aspects of Bitcoin on this forum you just have to look at the right place. Bitcoin is a part of blockchain technology which is a new and innovative technology it's the technological aspects of Bitcoin that makes people want to invest in it, if Bitcoin was just like the regular currency it won't have gotten as much fame and investors as it currently has.
It was the creation of bitcoin that brought about the blockchain technology.
The blockchain technology is simply the technological structure of bitcoin.
Yes, it seems you are inorrect going by your assertion that people always discuss price in the forum.
I have seen threads where the technological aspect of bitcoin is discussed on the forum.
The blockchain technology is simply the technological structure of bitcoin.
Yes, it seems you are inorrect going by your assertion that people always discuss price in the forum.
I have seen threads where the technological aspect of bitcoin is discussed on the forum.
What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.
The technology behind is what we call "Blockchain". So bitcoin runs on top of this technology.
That's why you will hear countries like China who loves the technology, but frown upon bitcoin. They only want to take advantage of this technology, but totally forgot the bitcoin started it all.
Of course people will focus on the price because bitcoin became a asset or commodity in which we trade to make profits.
As stated, they are intertwined. Bitcoin is created as medium of payment and/or a currency. The reason why its mining pattern is such as gold. Bitcoin is also a technology because it is a program. They are packed into one but of course both industry are in two separate category.
Technically speaking, Bitcoin is a type of currency that is considered as a digital asset. That only means that you will not be able to compare bitcoin to currency as the Bitcoin is also a type of currency. Bitcoin is a cryptocurrency and just wanna share this niche but cryptocurrency means, crypto = digital and currency = currency. If you are pertaining to the bitcoin's technology, you might be referring to the blockchain, not bitcoin. Blockchain is the technology behind the possibility of bitcoin as a cryptocurrency.
What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.
I prefer to say bitcoin as a currency based on blockchain technology co-relation between them... bitcoin is known as the first application built on blockchain technology
since it's the pioneer, bitcoin as a currency is considered the benchmark in cryptocurrency world
and the value of bitcoin rises as more people use and develop it furthermore (bitcoin protocol and its applications)
What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.
You cannot blame them, many of these people are investors of Bitcoin. Others works for Bitcoin and many are traders of Bitcoin. Only a minority are here because they love Bitcoin technology.
As stated, they are intertwined. Bitcoin is created as medium of payment and/or a currency. The reason why its mining pattern is such as gold. Bitcoin is also a technology because it is a program. They are packed into one but of course both industry are in two separate category.
Bitcoin is something a multiple access asset which has got multiple usage. Bitcoin getting used as a currency is one among that, and people using it in different way has happened for several reasons. The major reason for the same seems to be the technology behind it. Further is the usage and the need for an evolution in the financial ecosystem.
I don't think so, not all of the people only think about investing, trading, holding, and getting profits of the Bitcoin. Well, probably the aim is for those things. However, we all know that Bitcoin is one of the advanced technology from blockchain that really surprised the world.
We cannot separate BTC as the technology and digital currency, they are in relation.
We cannot separate BTC as the technology and digital currency, they are in relation.
As of now the correlation between the markets and the technologies are unbreakable, comparing in term of the notable. Both price nor technologies are tremendously useful yet breathtaking. The prices are highly volatile but if we look to a bigger picture the percentage of price increase is enormous since the beginning of the creation of Bitcoin yet also the technologies are improved the financial and economic system in the world(Blockchain). It is indeed a piece of brand news 'untested' technologies but it keeps on improving, and many people have become aware of the usefulness.
What about the correlation in the future? Well, I'm sure when people already well-understood the technologies and boringly know the market action, it will slowly fade away, but will not completely cease to exist since somehow both are vital parts in Cryptocurrencies especially Bitcoin.
What about the correlation in the future? Well, I'm sure when people already well-understood the technologies and boringly know the market action, it will slowly fade away, but will not completely cease to exist since somehow both are vital parts in Cryptocurrencies especially Bitcoin.
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