Investors must have the financial ability, sophistication/experience and willingness to bear the risks of an investment, and a potential total loss of their investment. Virtual currencies including bitcoin are very speculative, experience significant price volatility, and are not suitable for all investors. Like all futures products, speculating in these markets should be considered a high-risk transaction. Fluctuations in the underlying virtual currency’s value between the time you place a trade for a virtual currency futures contract and cryptocurrency the time you attempt to liquidate it will affect the value of your futures contract and the potential profit and losses related to it. Be very cautious and monitor any investment that you make.
Even after I explain bitcoin
– and I’m pretty good at explaining stuff – many still shake their head and say "I still don’t get it". If I only had a bitcoin
for every time I’d heard someone say: "I don’t understand it".
There are a few ways to gain exposure to bitcoin without owning the actual cryptocurrency. Some traditional, established exchanges, including Chicago-based CME Group (CME), offer futures contracts linked to bitcoin (/BTC).
The wallet software requires quite a bit of disk space and you have to find a Bitcoin seller in order to acquire any of the actual currency. An online wallet, on the other hand, makes the entire process much easier. As a result, we're going to focus on that process. As previously mentioned, storing and using Bitcoins requires wallet software or an online service . To set up an online wallet and purchase your first Bitcoin, just follow these steps:
Bitcoin was invented in 2008 in reaction to all the money-printing policies that were adopted to bail out the banking system. Bitcoin’s creator, the (still) anonymous Satoshi Nakamoto, wanted to create a system of money that was apolitical and resistant to state actors. Bitcoin’s inflation rate is set out in its code with full transparency. In other words, a politician or central banker couldn’t start printing this currency, even if they deemed the circumstances demanded it.
You would be suspected of doing something. If we take all of the features of Monero and bring them as a sidechain, this sidechain will have dynamic block sizes, an ASIC resistant proof of work, and last but not least, untraceable transactions. In addition, as others have mentioned, one could trace transactions being moved to the Monero sidechain and this would be the equivalent of getting $10,000 in cash. There's plenty of reasons for bitcoin to bring Monero's features into Bitcoin through a sidechain, but there's no reason for Monero to become a Bitcoin sidechain. Albeit these features, this theoretical Monero sidechain would now be coupled to Bitcoin's security model and other parameters.
It’s also cheaper, as transactions on Arbitrum cost less than two cents. Compare that to several dollars on Ethereum. While Ethereum’s mainnet can handle about 15 tps, bitcoin Arbitrum can boost this figure to about 40,000 tps. Arbitrum is a Layer 2 solution for Ethereum that uses so-called Optimistic Rollups.
Many are based on public blockchain technology, a distributed ledger of all transactions that’s decentralized and can’t be changed under most circumstances. Unlike traditional currencies, such as the U.S. Cryptocurrencies, also referred to as coins, are virtual currencies secured through one-way cryptography. dollar, they’re not controlled by any central government or authority.
This scaling solution can support faster transactions at lower costs as the blocks are settled on L2 child chains rather than on main L1 chains. The L1 chains and the child chains are connected through smart contracts that stipulate the rules guiding every child chain.
It’s a preferable medium of exchange to fiat for cross-border payments, but for small, local payments in the physical world, fiat still prevails. But bitcoin still finds widespread use as a medium of exchange on the internet, as long as buyer and seller are both content to use it. It’s unlikely I am ever going to go into my local corner shop and buy a pint of milk in bitcoin. Fiat money is much more convenient.
That’s why the use of "inflation-adjusted" pounds or dollars has become so commonplace. We still tend to think in terms of fiat money when measuring value. But it is a flawed measure because the value of £100 today is a lot less than it was 20 years ago. Finally, money is a measure of value – or, to use the parlance, a unit of account. You use money to measure the value of a good or a service.
Additionally, from the whitepaper, we see this passage - It is unknown whether Bitcoin will ever implement any of Monero's technologies, but from the outset, the cryptonote protocol (from which Monero has evolved) was made to address some of the shortcomings of the bitcoin protocol. From the cryptonote whitepaper, each of these drawbacks is listed - 2.1 Traceability of Transactions, 2.2 Proof of Work Function, 2.3 Irregular Emission, 2.4 Hardcoded Constants, and 2.5 Bulky Scripts.
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