I. Introduction
After Satoshi Nakamoto distributed white books in 2008 (Nakamoto, 2008), Bitcoin was not conspicuous to get acquainted with the world in 2009, but it was only a piece of dark code. For more than a year after its shipment, each Bitcoin available to be used is exchanged at a cost of several money, given the fact that the local coders area makes small changes and improvements to open source customers in the center of the framework. In February 2011, the value had moved to around US $ 1.00, moved to nearly US $ 30 four months after the facts, and after that, the normal fee between July 2011 and February 2012 was only US $ 8.16. Since then, demand has begun to increase. First continuously. At that time I don't know where. In 2015 NTID, the cost of bitcoin was around 290 US dollars. This is recognized by various organizations throughout this planet, from main online retailers to food trucks. The total bungalow industry has emerged to help people buy, sell, store, move and track bitcoin costs. This is usually the subject of the main media report. Everyone who has been interested in Bitcoin seems to have an equivalent investigation: will it last?
Apart from the fact that the assessment in connection with the fate of Bitcoin was finally mixed, most of them were positive for its durability in the future. What if we look at the partner side that Bloomberg concludes the examination report given by McKinsey and the company: According to McKinsey and the company, "ending the representatives is not enough to save the largest bank in the world from mechanical and administrative changes that are the changes In the world and administrative that is mechanical and administrative changes that are mechanical and administrative changes that are mechanical and administrative changes that are mechanical and administrative changes that are entered and the administrative re-establish business- All organizations must go. Almost every bank must surrender all desires and offer everything to all clients ... McKinsey states that only three to five full gifts worldwide will survive "which is also a thesis statement from this paper.
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In this article, I consider the factors that influence the possibility that Bitcoin will continue to facilitate transactions in the future. First, I discussed the obstacles to currencies and coins that exist for Bitcoin. Then I presented my view of the future of Bitcoin and digital payments.
Reception of cryptographic money will be an important point that is worth considering later, on the grounds that it might be a true innovation that can change the way in which cash trading throughout the world is traded. The advantages of Bitcoin that developed cannot be distinguished from market changes throughout the world. The current internet encouragement around the world is really tangled. If the local market starts to fall, there is no doubt that it can transport various business sectors. Bitcoin, similar to Euro, can be unminded by crossing many public lines and building a climate that advances global trade, public prosperity, and even peace.
If water is rare, it will be more valuable than diamonds. Bitcoin has value because its users believe that if they accept it as payment, they can use it in other places to buy what they want or need (Kelly, 2014). As long as the user maintains this belief, the object of value can be anything. The value of bitcoin is in its ecosystem, the same as Shell is the original American land currency (Kelly, 2014). Bitcoin has no intrinsic value like gold because it cannot be used to make valuable objects such as jewelry. However, because of trust and acceptance, values still exist and seem to continue to exist.
II. Literature review
Under the literature review, let's look at some of the main and small points that support and prove why crypto-currency will be in the future.
Crypto-currency can manage inflation by representing an unconnected system. Duplication of computerized money is much simpler than using actual cash. The answer to this problem is to have intelligence in focus power that tracks exchanges with monetary standards and guarantees every exchange. Bitcoin, the biggest digital money, adopts other strategies to take care of this problem. (Dwyer, 2014) Because the form of digital money can be accessed by all members in the framework, they provide different options with the focus note frame for the exchange of payments. This allows the presentation of a decentralized framework that empowers the form of digital money to rival the monetary standards of the National Bank (Raskin and Yermack, 2016). As a result, a decentralized strategy for the framework of cryptographic money is inflation. As a small point; Bitcoin has an extraordinary plan that makes it practical cash and has improved its status in the long run. What's more important is the fixed limit that Bitcoin will have. Bitcoin will be mined with consistent losses such as clockwise to the most extreme bitcoin number: An aggregate of 21 million (King, 2013). This bitcoin section is very important for its value. Because of the number of bitcoin that have been determined, it will never be swollen by a large number of Bitcoin. Likewise, Bitcoin and other forms of digital money are mostly seen as resistant to swelling caused by changes or limits on the public government (Magro, 2016). This creates a "safe paradise" for investors to put their wealth into it, because it is usually not depreciated due to inflation.
Safe Haven options and price volatility are other points that I want to mention.
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Crypto-Currencies provide Safe Haven options and price volatility
A mixture of interest in the place of choice of protection and instability in value helped bitcoin to be the best money in 2015, using the US dollar file (Desjardins, 2016). This implies that Bitcoin is the most significant money in the world to the end of the years ago. In the world economy covered by extraordinary countries such as China and the United States, this is not a small problem. Bitcoin exchange volume in South America has developed generously, developed by 510% from 2014 to 2015 (Bitcoin: The New Global Economy, 2015). Argentina has become a den of expanded digital money utilization due to a very high expansion rate and a large number of residents who do not have a bank account (Magro, 2016). Previously, Argentina would exchange their money to the US dollar to protect its value. However, Argentina has recently been forced limits to the size of the US dollar which can be traded by its inhabitants. Therefore, there is an underground market to buy US dollars at a more exorbitant cost and expansion in the allocation of Bitcoin (Magro, 2016). Requirements for Argentina to maintain the value of cash are now very clear, and digital currency is a significant instrument to meet this need. The situation in Argentina is not the only one. Financial supporters have seen the interference of business sectors throughout the world consistently (generally due to political reasons), and the values and use of digital currencies continue to grow. Britain recently gave a vote to leave the European Union and the phrase "Brexit" was generally brought. Before the voting, the cost of bitcoin dropped by almost 15% (Bovaird, 2016). After the British voted to leave the European Union, the cost took off from the US $ 550 the US $ 650 per day later. Actually, because financial supporters lose confidence in the exchange market throughout the world, the exchange value of exchanges worldwide fell sharply. What is the meaning of Brexit's choice financially? For this situation, digital money is extraordinary on the grounds that the only money that can be purchased and sold quickly is still used throughout the world. Other valid monetary forms can be traded, but the opportunity requires an individual visit to the cash trade office, and the money cannot be used unless locally recognized. For example, Americans cannot quickly turn US dollars into Japanese Yen and then use the cash to get a purchase. They have to go to the money trading office, which might hope to go to the nearest global air terminal. In addition, when they get cash, they will not use Yen because it is only money that is trusted and felt locally. The current situation has no significant influence on bitcoin (or other digital money). To buy bitcoin, you only need to make online notes in online trading, making invitations, and exchanges are generally completed in some moments. When Bitcoin is in their sophisticated wallet, they can get it from a large number of providers throughout this planet. In this model, Bitcoin is a more reasonable arrangement because it can quickly get incentives for the fast and out of cash. Other forms of Fiat monetary may become more down-to-earth and more important, but they cannot compete with the readiness of digital currencies. Crypto-currency is a disturbing technology that can be accepted by investors who only want to avoid the fall of the global market.
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The driving factor for the development of crypto-currency as a transformative technology is its ability to solve old problems, coupled with developers and users who support and develop.
Another point is that the driving component for the increase in digital currencies as innovative innovation is its capacity to overcome old problems, combined with a strong and developing local designer and client area. The explanation that you have digital money is identified with cryptographic money is in a special situation as a pioneer of extraordinary innovation that is possible for a long-standing monetary framework. In his impulses, he can fill holes in today's monetary innovation and can help overcome conventional financial problems by turning it into a joint framework. Napster is another distributed framework that changes the music business by removing the mediator (Kelly, 2014). Innovative innovation begins with taking care of explicit problems in business. For example, cryptographic money is relied upon to help overcome the problems identified with customers without ledgers. A large piece of the population in non-industrial countries does not have financial balances. In Latin America, 60% of the 600 million residents did not have entered the ledger (Magro, 2016). Bitcoin innovation allows people to trade monetary standards without requirements for outsiders who are told on parties (such as banks) to direct exchange. What you need to use Bitcoin is a cellphone, 70% of them are Latin Americans who are undoubtedly able to visit (Magro, 2016). Because of the organizational capacity with Bitcoin, two clients can trade Bitcoin with each other by checking the QR code printed on the cell phone with the application. For certain people, the difficulty that has existed for quite a long time, this is a true arrangement -correct type. When the client base develops, this will definitely increase, so that the requirements for better digital money organizations and applications will turn into the main concern. There is a very large market for potential designers that make this application because this innovation can affect any industry that depends on the framework of the external clearing that is believed (PWC, 2015). Every engineer that increases comfort through Bitcoin application and GUI improvement will be very effective. The driving factor for the development of Bitcoin as a transformative technology is its ability to solve old problems, coupled with developers and users who support and continue to develop.
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The company began to see the value of using crypto-currencies for international transactions, especially when they need to make transactions quickly in response to an emergency.
The organization began to see the benefits of utilizing the form of cryptographic money for global exchange, especially when they need to manage exchanges quickly remembering the crisis. The organization began to see the value in utilizing digital currencies for global exchange, especially when exchange needs to occur quickly remembering the crisis. Because of the speed of exchange and comfort in a distributed framework, digital money is only used to take care of this problem. Cash can be moved universally, but most appear a few days after being sent then all (Tim, 2016). The exchange may be influenced by some unresolved expenses when they are crossing, so it is difficult to send the right to increase to other organizations. The original illustration of this urgent need is an online organization that has experienced an administrative attack and needs to be ascertained by an immediate digital protection organization (Team, 2016). For this situation, the speed of exchange is very important, and consistently the organization's site is closed, and the benefits of missing. Cryptographic money enjoyed a significant upper hand over the conventional monetary form, because of its agility in leading rapidly distributed exchanges, especially in the global B2B situation.
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The internet market has exploded and is an original competitor for the actual traditional shops. Amazon.com has developed to a level that is practically surprising. They even started using the driver "at the request", who used their own private vehicle to deliver the standard bundle (Saito, 2016). This development shows that this organization seeks to also strengthen the control of coordination costs, thus extending when businesses develop and develop dramatically. Ebay.com has used installment frameworks such as Bitcoin, which is called Paypal and has used it effectively to work with all the purchases made on its site. Sutra road is another illustration of developments in the web market, regardless of the fact that it is very forbidden. He associated buyers and dealers who basically use Bitcoin to complete the exchange. This market shows how computerized monetary forms associating buyers and vendors are still effective without intercession that is not necessary by the administration of the host country. Exploded internet shopping, and Bitcoin is ready to expand its scope by providing providers and clients with proficient and useful installments. In the second quarter of 2015, the internet was universally useful for people representing almost 23% of the exchange handled by Bitpay (Kasiyanto, 2016). For traders, cryptographic money enjoys the advantage of conventional card-based monetary standards because it destroys this expenditure.
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One of Bitcoin's biggest chances is that he can also act as a kind of commodity, similar to gold.
In addition, maybe the biggest opportunity for Bitcoin is that it can also be used as goods, such as gold. At any point an opportunity to damage the world market balance, the value of gold takes -off, as we found in Brexit's choice. The value of valuable metals rose to the highest in two years because financial supporters did not know how the market would respond to the voting, using it as a shelter (Reuters, 2016). Ware Market is a type of exchange that is widely recognized throughout the world, and digital currency seems to have begun to imitate gold. Gold has for some time become a significant value holder, which depends on all-inclusive recognition and trust in its value. Cryptographic money can turn into a significant member in the item market. They have a special assumption of purchases through direct online components, which provide simple access to buyers.
The International Law on Taxation has been ratified recently, creating validity for crypto-currencies as the main device.
On the other hand, international law in connection with the tax assessment has been passed lately, making legitimacy for digital money as a standard gadget. Global law on tax assessment is lately, making the adequacy of digital money as a standard gadget. Before thinking about further cash as a true type of exchange -strong, law on the assessment of Cryptographic Money Taxes must be approved. Towards the end of 2015, the European Court announced the exchange of Bitcoin to be issued from VAT (Hileman, 2016). Such a step will significantly increase the flow of crypto-currency. Some users refuse to use currencies without knowing how it affects their tax statements, no matter what positive perspectives they see.
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III. Discussion/conclusion
I have tried to explain why crypto-currency will occur in the future by writing this paper. If necessary to summarize my opinion about why we must support this thesis statement;
Open code for mining digital currencies. BTC applies a calculation similar to web-based banking. Solitary contrast in web-based banking is exposure to client data. All data about the exchange in the BTC network is distributed (how and when), but there is no information about the recipient or sender of the token (there is no entering the individual data of the owner's wallet).
There is no inflation. The largest number of coins is limited by 21 million Bitcoin. Because political power or effort cannot change this request, there is no opportunity to swell in the framework.
Crypto-currency peer-to-peer network. In such an organization, no basic worker is responsible for all activities. Data trading (cash for this situation) occurs between 2-3 or more programming customers. All program wallets introduced by clients are very important for Bitcoin organizations
Possible transactions without limits. Every wallet holder can pay anyone, anywhere and any amount. The exchange cannot be controlled or blocked, so you can move cash from anywhere on this planet, regardless of where the client is different from the Bitcoin wallet.
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There are no boundaries. It is difficult to drop the installments made in this frame. Coins cannot be made, replicated or used twice. This ability guarantees the honor of the entire framework. The number of online stores, assets, and organizations that recognize BTC develops every month.
Low Bitcoin operating costs. As actual money, BTC digital currency consolidates web-based business elements. There is no strong reason to pay commissions and costs to banks and different associations.
Decentralization. There is no focus control in the organization, the organization is adjusted to all members, and every PC that mines Bitcoin is an individual from this framework.
Anonymity. This is really anonymous and at the same time is really transparent.
Transparency. BTC holds the historical background of the exchange that has occurred. This is known as a quadratic chain or sequential blockchain. Blockchain stores data about everything.
Transaction speed. Can send money anywhere and anyone in a few minutes after processing payments on the BTC network.
It only belongs to the wallet owner. There is an interesting electronic installment framework where the records have a place only with the owner. BTC, the owner has a personal key and public key that compares, the location of the BTC wallet. There is no owner who can issue bitcoin.
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There is no opportunity to use certain personal data for fraud. This is an important point. Today, most of the purchases are made with a credit card. They are temperamental. When completing the structure on the site, the client needs to enter the accompanying information: card number, expiration date and code. It is difficult to think about installment strategies that are not safe. As a result, credit cards are often stolen. BTC exchange does not have to reveal anything close to personal information.
For the reasons that I think the future of the crypto-currency is light and although in the first step; Need far. And it seems that it will require more ways in the near future so we will continue to use the crypto-currency.
