Crypto Coin Mining for Digital Asset Investment

The Crypto Currency concept defines a digital representation of money that is built on digital systems that rely on cryptography to ensure its security in the exchanges and digital storage of this money. This term is popularized with the birth and adoption of Bitcoin, although there were some cryptocurrencies previously. However, Bitcoin is the first one that relies on a distributed network of computers for storage, which makes it much more resistant to attacks and practically impossible to shut down, just as distributed music download networks have been.

Taking bitcoin (BTC) as a reference, we can say that a cryptocurrency is a decentralized digital currency when we think about cryptocoin asset and investment, represented by a non-duplicable code chain, which is transferred between users through the Bitcoin protocol (commonly called blockchain). This protocol guarantees ownership through encryption and avoids double spending (i.e. duplication). Beyond this, the Bitcoin (Blockchain) protocol also deals with the generation of BTC, or what is the cryptocurrency, through a reward mechanism towards miners. They are what are responsible, with the power of their computers, to validate transactions, add blocks to the Blockchain (generating new bitcoins) and keep the network secure.

Advantages

There are numerous points of interest over advanced cash, among these favorable circumstances we can find that they can be sent to any individual who is associated with the Internet for all intents and purposes in a split second and with little expense. Which makes them a magnificent innovation for global cash moves. Another preferred position is that they are unattach able, that is, nobody can take this cash. Specifically, Bitcoin is amazingly secure, without having had the option to make new Bitcoin while we continually observe endeavors to fake cash. Another favorable position is that there can never be in excess of 21 million Bitcoin, contrasted with customary monetary standards whose states may choose to make more cash.

·         It is decentralized: it is not controlled by any state, bank, financial institution or company. Bitcoin is governed by a common software installed on thousands of computers distributed worldwide and is based on the same rules for everyone, nobody can change them if the vast majority disagree. Any participant who fails to comply with them is automatically expelled by the rest, so no one can exercise central control over their operation.

·         It is deflationary: the issuance of new bitcoins is reduced over time and will stop at 21 million bitcoins; this avoids the main cause of inflation in traditional currencies.

·         It’s fast: you can send any number of bitcoins in minutes. Regardless of the destination.

·         It is cheap: the cost of making a transfer in bitcoins is of cents regardless of the amount.

·         You have total control of your bitcoins: your bitcoins are only yours. The owner of the BTC is the only one who controls them. There is no entity that can change or prevent transactions or block accounts.

·         It is safe: counterfeiting or duplication is impossible thanks to a sophisticated combination of proven cryptographic techniques.

·         It is universal and free: it can be used worldwide equally. Any person anywhere in the world can create an account without intermediaries and receive money without connecting to the Internet.

Do you think that in the future they will go to more?

 The advantages of this type of money that we listed above position it as an excellent alternative for many people who have to send money. Apart from being a currency with a limitation in its issuance, they allow the price to rise in the face of the increase in demand and therefore becoming an excellent cryptocoin asset and investment. It is also a technology that allows you to create automatic rules to money (for example, it could be programmed that an inheritance could only be spent 10% annually). All these great advantages allow us to predict that its use will continue to grow.

Today may not be the best system in all situations, but it is certainly an unstoppable evolution. The spread of bitcoins in the world as a global currency is already a reality, the development of solutions that solve some gaps is already underway, the revolution that the blockchain has brought and is also bringing to other sectors, beyond the systems of payment, is constantly increasing.

All the largest companies have already realized the value of that technology and are focusing on solutions to implement them in their businesses. Speaking of the value we believe will increase, and surely that of Bitcoin will begin to be interesting from next May. On this date the halving will occur, an automatic process that will reduce the reward to the miners by half, this event has historically always increased the price.

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from David's Been Here https://davidsbeenhere.com/2020/02/29/crypto-coin-mining-for-digital-asset-investment/
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