Have you frustrated Bitcoin prices? do not worry! Bitcoin will not be done. What's more, there are 5 reasons why this is the world's first ever digital currency.
1- Increasing the number of its users
Benchmarks that measure all Bitcoin users and usage are constantly rising, with ups and downs along the way, like any new technology. At first, day trading is probably the most explicit measure, followed by a high trend line. It is recognized that the new decline in volume was great. However, part of this can be attributed to the growing practice of aggregating transactions, which would reduce overall trading volume.
Second, one of the strongest indicators of strong demand for Bitcoin is the LocalBitcoins, a peer-to-peer global platform for selling digital currencies. Interestingly, the curve shown below is very similar to the price curve, with recent volume peaking in December, which is associated with the highest ever rise in Bitcoin which came close to $ 20,000 at the time. However, the overall upward trend remains intact.
Third, while the portfolios and titles are not directly equal to the number of users in the world (given that most portfolios now generate new addresses and users have multiple accounts), this paints a general picture of the growing popularity though. "Blockchain", one of Bitcoin's most famous portfolios, has experienced a rapid rise in the number of new accounts, which are now close to 24 million accounts, for example. In addition, one of the world's most popular Bitcoin platforms, "Coinbase", has recently surpassed the 20 million mark as it expands to 35 countries. At this rate, analysts expect the number of Bitcoin users to reach 200 million by 2024, according to Russia today "RT".
2. The contract has become more numerous (and distributed more widely) than ever before
The contract can be thought of as an interactive transmission of Bitcoin's physical structure. The full node of the binary is achieved from transactions based on network protocol rules. By running a complete node, users can verify their transactions with greater confidence.
The latest data show that the standard number of nodes - which are accessible - has spread throughout the world. Interestingly, China has the second-largest contract, with more than 2,300 knots, despite the regulatory crackdown imposed by its government last year.
The more complete a contract, the more decentralized the network becomes. It is therefore more difficult to successfully disable or attack the network, and in turn encourages users to become more self-sufficient and financially sovereign entities.
3. Expansion of the Bitcoin network
As Bitcoin saw rising interest rates and numbers of new users, the network became congested, leading to higher transaction costs at the end of the year. The adoption of the SegWet update, the perfect solution to increase the volume of blocks, has not only reduced some of the costs for now, but has opened the way for developers to work on second-tier scaling projects. In particular, Lightning, along with other mainstream enhancements - such as covert transactions, proofs and signatures - are expected to make Bitcoin transactions less expensive, faster and more private in the not too distant future.
4. Achieve record levels of retail rate
Bitcoin's hash rate has continued to rise to current record levels. The retail rate is the estimated number of Tera hashes per second (Trillions per second) performed by the company. In other words, it measures the amount of computing power that Bitcoin uses.
The current rate is around 25 million ter / s - a huge amount of computing power. In fact, the computing power required to successfully attack Bitcoin does not exist, making it the safest and most direct digital currency network in the world. "Bitcoin has achieved a level of computing that no one country can overthrow by computing alone," said Andres Antonopoulos.
5. Still exist
Pitcuene has been around since 2009. Even mainstream media like "Bloomberg" have called it "part of a miracle at all costs." Who would have thought that the white paper written by a writer with a pseudonym and then broadcast by some of the world's most brilliant minds would not only have an impact on the world but would turn the general concept of money upside down?
Measuring the success of this leading technology by looking at the price will be a failure to grasp it accurately. He goes beyond that. Where the creator or the creators of the house are aware, so it is likely that we will never know the identity of the real Satoshi Nakamoto. However, this letter in the configuration block gives us some evidence of truth intent. At the same time, it has been operating uninterrupted for almost a decade now. A hundred times dead, however, still exist. It enables individuals to become their own banks every day, avoiding dependence on banks, politicians and centrally planned monetary policies. In the past, the world did not know a limitless form or a neutral policy of money. It is an idea that is the right time for it.