Cryptocurrency- A Few Aspects of Bitcoin. [Part 1]

If seen at the beginning of history, humans have been using bartering instead of goods. There was no idea of currency or money at this time. In this, cattle and vegetables used to be a part of this method. Then, due to some indispensable requirements, this method was considered as inadequate and inaccessible, and according to the known date, in the six hundred BC (600 BC) ancient Turkish King Alates introduced the first lesson of the world that In the economic fate proved to be the world's living chapter. People could not accept it for a long time when bank notice was started in the seventh century. Because innovation is rarely accepted. But it was not just innovation because this note was still on the principles of Sikh only. The amount of the note was its intrinsic value. By mentioning the amount of gold or silver etc., these notes continued to be close to the twentieth century, and then it also ended up with some uncertainty. Now the actual price is not available. Most currency found in the world is called the Fiat Currency. And this currency is based on the public's sole basis for the transfer. The real value of the note is the only trust we do at our institutions. This system is in the world for the second half of the 20th century.

1. Cryptocurrency

It's changing time and changes are coming faster than ever before. In the same way, the 21st Century highlighted a dimension of currency that had never been imagined before today. It was named Captain's currency that was developed by Corp. Lozi and Crypto graphical techniques. BitCoin is the first currency of this tribe, which was introduced in the year 2009, and reached the extremities of popularity in a short period of time. Today its price has exceeded the number of Pakistani rupees. Furthermore, more than thousands of commodities were introduced, including Ethereum Ripple (Zcash), LiteCoin etc.

Indeed, there are digital shapes of asset Crypto. It is clear that there is a difference between digital assets in digital assets and traditional assets. Digital assets are the currency that has three goals. The first is that it can be used as a transaction with complete protection. Secondly, fake is not possible and third is that the transfer can actually be delivered. This currency is made of cryptographic graphics techniques. It is inevitable to solve a particular type of codec for an account to reach another account. And this work is just possible from the real corruption currency. It can not be possible in a counterfeit manner.

Here's a question. And that's exactly, Is the Cryptocurrency really exists? And also what is the difference between rupee notes and one bit? The answer is as follows:

1. Both Cryptocurrency and faith currency (i.e. dollars or Pakistani rupees) have no personal value or value or intrinsic value.

2. Traditional currency is centered. That's why Gravity or any responsible organization can run it at its own option. While crypto is the currency decentralized, which does not work at the authority of an organization or a gourmet.

3. The traditional currency institution can be customized whenever and wherever it is printed. And the price falls in case of inflation. While crypto is limited in itself. It can not be made whenever you want it.

4. All records of traditional currency and permission to transfer it are under the Central Bank. And during this time the fees, tax and various types of deductions are deductible, which is likely to reach the seller from the buyer. There is no such case in cryptocurrency. It is restricted to the picker only.

5. The traditional currency record is in the bank's digital laser system, which can easily be tracked and the risk of getting rid of your wealth is always while your wealth is fully owned by the currency card.

6. The traditional form of the traditional currency is a paper note or a sue. While the currency format of the currency is merely a computer's data. It does not mean that it is physical.

7. Counterfeit in traditional currency is possible while the crypto of the currency of Crupto can never be made in a false way.

8. There is no record of traditional currency notes that the public does not have the number of notes circulating in the market. And consequently, there is always a danger that the value of the note will fall. While cryptocurrency is also favorable during the era of hyper infections. For example, the total number of bitcoin worldwide is 2 million. It can never be more than that. Therefore, it is not likely that the value of hyper infections ends. So buying power will always remain uniformity or growth.

2. Objections or Bugs

1. Cryptocurrency has no intrinsic value or value. freight currency such as rupees and dollars do not have intrinsic values

as described above.

2. Cryptocurrency does not exist. Which can be priced? The definition of existence must be done in a new way. The size of something does not depend on the size or weight of it. But in modern technology, there are many things that do not get the physical shape. They cannot be measured nor can they be measured on a physical scale. Here are examples of cloud servers and Google Drive spaces. And their interpretation is done with their own units. Just like the power units are to be paid and the bill is to be paid every month. Similarly, there are also units of currency exchange. As the bit is called a cornerstone.

3. He does not regulate any central institution. Is this a sharp objection?

4. In some countries, it has been banished. Where and where was not Ben? Is Sharia justified?

5. it’s a bubble. It is obvious that a parallel system of currency that can be multiplied in comparison to your resized currency and with its quantity limited, it is not a matter of fact that it is down to top. It's about supply and demand. There is a problem of hyperinflation in the traditional currency due to which things are always expensive. While crypto is a D Fusion in the currency. That means cheaper and currency gets stronger. The Remaining part later.....