History of currency and birth of virtual currency

Electronic currency payments such as cryptocurrencies are becoming widespread, but still most of the physical transactions use paper money and coins. Compared to the days when bartering transactions were used, modern transactions using “money” such as banknotes and coins are very convenient, and such convenient settlement methods have come to be used. Can be said to be a very natural result.

Banknotes are said to have been born in medieval Europe. Goldsmiths, who were casting metal coins by mixing impurities such as copper and nickel into gold and silver, found that the value of money was not the original value of “things,” but the support of power by powers. I was aware that it was a symbol.

In the current monetary system and capitalist economy, since the central bank can manipulate the value of money by adjusting the amount of supply of currency, it is possible to adjust the value of assets held by the people and it is possible to always make them poor.  Blockchain is not a centralized data management system, but a system in which multiple users on the network manage data in a distributed manner. Therefore, the risk of tampering is very low and a high level of security is guaranteed.

Bitcoin market size

Currently, it is said that the total amount of monetary currency in the world is about 5 trillion dollars, and about 1 trillion dollars for the Japanese yen. On the other hand, Bitcoin is about $ 78 billion, as mentioned above.

For Bitcoin, which does not have a country that issues or manages, there is no barrier to its distribution range. It is possible to use Bitcoin anytime, anywhere if you are connected to the internet.

As the Bank of Tokyo-Mitsubishi UPJ has announced that it will issue and manage “MUFJ coins” based on the Japanese yen, it is believed that all currencies will be digitized in the next 30 years. . Among them, there is no more global, safer and fairer electronic currency system except cryptocurrency.

It is easy to imagine that Bitcoin, which threatens the existence of international banks including central banks, will be regulated in various countries in the future, but even if regulated, the potential potential of cryptocurrencies is still We believe that it has the potential to surpass international currency.

Mining and miner

There are various blockchain projects such as Bitcoin and Ethereum these days, but in all of them, “miner” is indispensable.

A miner is a term that refers to a person who performs mining (mining) of cryptocurrency by executing processing defined by each cryptocurrency with specific hardware, such as saving transaction records and executing contracts. When changing the network protocol of each cryptocurrency, the mining share held by the miner becomes a voting right for the network, so it has a great influence on many cryptocurrencies that adopt the P2P type network. I can’t ignore the miners.

Therefore, it is the best way to control “mining”, which is the core of the cryptocurrency, so that we can take advantage of it in various cryptocurrencies that are expected to develop further in the future. Just as goldsmiths created the central bank system and managed the issuance of banknotes in the past, in the next generation of finance, miners can be goldsmiths. There are many mining sites which offer free suggestion to their customer how to do mining and how to make money using these websites.  More info about bitcoin is available here at bitcoin-storm.

Typical crypto assets include Bitcoin and Ethereum.

Cryptographic assets have received a great deal of attention as a mechanism that allows them to exchange their property values without going through a third party such as a bank.

Also, be aware that many cases of fraud related to crypto assets have been reported. For more details, please see “Please be aware of troubles related to crypto assets (virtual currency) by the Financial Services Agency, Consumer Affairs Agency, and National Police Agency”.

Also there are many countries which give permission for the mining and there is no limitation for them. In these countries one can easily do trading without any restriction on them.

This is a sponsored post. As it’s related to crypto trading, you should also read our risk warning. Read more in our editorial policy.


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