'We propose a solution to the double spending problem'. This phrase alone was as important as the introduction of Bitcoin in 2008. A lot of persons, myself especially, did not completely understand cryptocurrencies until after being exposed to a whole lot of videos and articles. In fact, it took me hours to get the hang of the Bitcoin whitepaper. Now, it looks like I am going all crypto and the next big news on the crypto space may be just what I would be looking out for if you catch me on my computer.
Now come to think of it. The gold rush was quite intense and everyone seemed to have moved nonstop into digging up the valued precious stones. In fact, two years after the discovery of gold in the California area in 1848, nearly every nugget of easily accessible gold was out of the ground. The Forty-Niners as they were called were so desperate and determined that they could drain an entire river to dig gold up from better concentration at the bottom. Ships from every corner of the world, traveled thousands of nautical miles to get gold. Servants deserted their masters in what seemed like a quest to possess the only reason for their obedience. “Gold! Gold! Gold from the American River”.
Straight into the late 90s’ and the early 2000s, there was a lot of speculations there were a lot of unfounded speculations about the application of the internet to businesses and product users. This would is known as the dotcom bubble. Investors were hell-bent on sacrificing any advice based on traditional knowledge in favor of the technology. The rise in the stock prices meant companies grew thousands of percentage in the capital and what ensued was lavish spending by these companies. The result of the dotcom bubble was a collapse dozen of companies folded up and the army of individuals that decided to quit full-time jobs started to consider other options.
Here we are. From the publication and launch of the bitcoin in 2008, there have been thousands of innovation and development built on the blockchain. The blockchain itself is an innovation of unequal magnitude. It gives us another perspective from which a lot of the things that have become part of our everyday life could be looked at. It is again another foray into the beauty and power of science and math. Users of the blockchain themselves do not have to be scientist or mathematicians. This would raise an important question about the current increase in the number of cryptocurrencies. Bitcoin was designed to reach a maximum of 20,000,000. Litecoin claims to be a good substitute with a maximum of about 80,000,000. Bitcoin itself has witnessed some breaks in its blockchain in what is technically known as a fork. Etherium is currently is unique for its proof of stake rather than work and the lots more of possibilities on its open source platform. Ripple rose from nothing to become the third on the cryptocurrency list by market capitalization. Cardano is in the fifth position and NEM’s beautiful blockchain is just another of its kind. Steemit and LBRY.IO came with a force so powerful because politics meets the blockchain in their ideas of decentralization and reward. The proof of brain is one big thing—no doubt. Maybe it could be called the CRYPTO MARCH ON WASHINGTON. The truth is—cryptos with unique ideas like Etherium and Steem are more poised on the ground to stay. Which of these coins would survive long enough?
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Love you all steemians. Do not forget to resteem, and yes, vote too.
Remember all altcoins are pegged to centralized exchanges and bitcoin which are also pegged to fiat.so if bitcoin loses 90% of its value so do all altcoins because they have no exit. Warren buffett is no tech expert but hes predited a very bad ending for cryptos for the simple fact they have gone up to fast.All that being said steem iota bitshares EOS still have huge potential .can see bitcoin being pushed up to 30 k by the end of 2018 before the whole thing pops MY advice to anybody trading take some of the table here and there and look to invest big when the whole thing crashes
Sure, but it is also possible for other coins to gain more fiat currency value over bitcoin. Looking at the applications of each currency, bitcoin would only survive because of its new lightning network. Otherwise, there would have been good chances that its value would increase yes, but up to a point.
Hi. I flagged your post for spamming it in steemit chat on channels it doesn't belong to.
Ouch! I am so so sorry. New to Steemit as you can see. I did not do that on purpose.
Well it's great you understand, I've removed the flag :)