Wednesday, February 21, 2018

Bitcoin the new gold standard*


There are many claims that Bitcoin and its clones are the currencies of the future, mainly because they are not controlled by the Central Bank of countries and in the case of Bitcoin the management of the system, of its transactions, is done by Block Chain, which makes these transactions transparent and secure without the need for a central authority.

Bitcoins can be created by running certain complex computer algorithms. What these algorithms do, appear to be of no concern to the holders/miners of Bitcoins. However, the total number of Bitcoins that will be in circulation is limited to a fixed maximum value.

 

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