Monday, January 22, 2018

bitcoin or ethereum?-crackitdown

The price of Bitcoin is rising day by day and also its main competitor currency Ethereum's price is rising 20% greater than the Bitcoin this year. Many people ask that where should we invest? in Bitcoin or Ethereum. 

To invest in a cryptographic currency, first, we need to understand the reason why it is rising and is the reason stable or not. Many people invest in cryptographic currencies and after because of economic bubbles the prices are falls. 

The main fact of rising Bitcoin value too much is the legalization of bitcoin in Japan and Russia. Last year(2016) Russia declared that bitcoin will be banned in there and if anyone does bitcoin transaction they will be jailed but this year they took many decisions and finally they legalized it. 

This matter shocked people but actually, Russia has some banking problems and economic corruption that is why they legalized Bitcoin. Some people have the mentality that Bitcoin is not traceable, if we host Bitcoin we can't trace it. 

But this is wrong. Bitcoin can be traced at any cost. It depends on what wallet did you accept. There are many factors of accepting Bitcoin. In India, the Government is trying to get control of the economic state through demonetization but China already got that. 

In other countries, transacting money is very easy. But in China, it is not so easy. That is why the rising of the price of Bitcoin is maximum there. Many people have the misconception that China is the main country who invest maximum in Bitcoin. This is true that most of the Bitcoin miners are belongs to China but the main investor country is the U.S.

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The Headline factor of Bitcoin:

A big factor in raising the usage of Bitcoin is making headlines. That means? look, Wannacrypt ransomware spread and it demanded Bitcoins, the Disney movie case. Anything illegal happening demanding Bitcoin there. 

There is rising the usage of Bitcoin in India also. All transactions of Hawala are making using Bitcoins. The first, people used their credit cards to pay for gambling but now the maximum of gambling sites use Bitcoins for a transaction. Somebody kidnaps a child and demands Bitcoin. The criminals try to stay untraceable. That is why they demand Bitcoin. 

Don't think that bitcoin is untraceable. Bitcoin is traceable. We will discuss it in another post. The most Bitcoin transaction used place is the Dark web. Actually, when FBI seized SilkRoad, bitcoin became famous. Silkroad was an online drug and armor marketing place of the Dark Web.

  Why you should Invest in Ethereum?

Bitcoin And Ethereum. Which is right?-crack it down

Ethereum is a very very useful currency. it should not be called Ethereum because it is the name of the platform which gives some functionality to people and it has its own currency called Ether

It has a little bit different from Bitcoin but both these are equal to the point of view. But the concept of decentralization contract it took is very very smart. 

Why Ether is some way best than Bitcoin? The first thing is Ether is fast than bitcoin. Its block time and confirmation are too fast. If you take or do Bitcoin payment it takes average 20 minutes to complete but Ether takes 12 seconds. 

It has the future to run further. Do you know that more than 16 million bitcoins are already generated? The algorithm used in Bitcoin is made in a way that it can reach only to 21 million.

 If you start from zero the mining will easy but when it starts pointing to 21 your mining will become hard day by day. There is one more problem with Bitcoin that the speed value of transaction of Bitcoin per second is limited. 

Bitcoin is made in a way that it can't break the limit. Bitcoin has some limitations which make Ether better currency than it. There was an interesting fact that when Trump became president of the U.S, the people who were forced to leave the U.S, they invested their money in Bitcoin. Which caused a little rise in Bitcoin. Also every day a little of Bitcoin rises cause of China.

Why you shouldn't Invest in Bitcoin?

Nowadays Bitcoin is in such a condition that in any matter if it political, international, there comes Bitcoin. That means many countries legalized Bitcoin. This is a big problem for Bitcoin. Bitcoin is going to be a centralized currency.

 Also, Bitcoin has an economic bubble problem. The bubble means, when all Bitcoin holders who have a big stock of Bitcoins, get together they raise the price of bitcoins. The price depends on how they released the Bitcoins.

If the availability of Bitcoins decreases, the value increases. There is one more issue with Bitcoin. The mining of Bitcoin becoming harder day by day. As mining is becoming harder the releasing of Bitcoin is decreasing and thus causing the increase in demand. 

Economic bubble of Bitcoin means its demand is rising and therefore its price is rising rapidly and there is a big probability that it will start falling soon like blasting bubble after getting bigger. 

The adailcaz ransomware was mining bitcoins in an effective way but when the Wannacrypt ransomware discovered and as both adailcaz and Wannacrypt used the same exploit the patch for Wannacrypt also worked for adailcaz. If somebody again starts mining Bitcoin in an effective way the value of bitcoin will obviously fall. These are the main factors why you shouldn't invest in Bitcoin.

Hope you liked the discussion. If you have any opinion about Bitcoin or Ethereum, let us know in the comment box below. Thank you.

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