The future belongs to cryptocurrencies!
Many are convinced that this is the future of money. This also includes TOBG!
"There are already some people today who receive their wages in Bitcoin and live off it."
Anyone who takes a closer look at our global economy and recognizes the interdependencies knows that our money is unfortunately going steadily "downhill". Our money is constantly losing value. This is called inflation. But this is by far not the only reason for the loss of value. The control over our money is mainly in the hands of the central banks. But the state and the other banks also control monetary policy decisions and thus the purchasing power of our money. One only has to look at the recent history of Greece to realize that our money is not our money in every case.
If you live in Switzerland, you might be thinking, "What is he writing? Our Swiss franc is stable and hardly knows inflation. In addition, certain products are even becoming cheaper. That is also true. BUT, what about the constantly rising costs for health insurance, insurance, taxes and the falling returns on savings, the pension etc.? In addition, the problems that Greece, Spain, Italy and Turkey are currently experiencing will not pass us by without leaving a trace. Sooner or later, this circumstance will also affect us. The question is not if, but when! Anyone who has acquaintances or relatives in Germany knows what I am talking about here.
It would be great if everyone had the opportunity to own a currency whose value is regulated only by supply and demand. Another plus point is that Bitcoin and Co. cannot be controlled by any bank or state, as they are decentralized currencies thanks to blockchain technology.
If you think that the multiplication of value is not possible, you should know that you cannot multiply REAL decentralized cryptocurrencies like Bitcoin at will. The creators of the cryptocurrency Bitcoin have paid close attention to creating a currency that cannot be "abused" by large institutions. In addition, one can "produce" a maximum of 21 million Bitcoins!
While Bitcoin is the best known and most widely used coin, there are a great many (too many) other cryptocurrencies. All of them will not survive.
TOBG believes that the future belongs to cryptocurrencies like Bitcoin, Dash and Ether. Why?
Bitcoin could be the digital currency for larger volume business. From web stores, to stocks, to the largest construction projects.
The disadvantage of Bitcoin is the fact that it takes a relatively long time for a payment to be transmitted and confirmed. This can take from 10-xx minutes. I don't think anyone wants to wait that long at the checkout.
Moreover, Bitcoin transactions can be tracked, albeit with some effort. They are pseudo-anonymous.
Thanks to Lightning, a 2nd layer solution for Bitcoin, transactions are possible in a few seconds. These are also anonymous and almost free of charge.
Dash has the same potential as Bitcoin. Unlike Bitcoin, however, a transfer takes just 1-2 seconds and can be done completely anonymously.
Dash could therefore also become a means of payment for everyone. With it, you can pay in the bar, restaurant, off- and online shopping, etc. very quickly and easily.
What makes Ethereum and its cryptocurrency Ether so special is the fact that you can also attach a contract to a transfer, for example.
As an example, if someone has signed a contract for a car lease and does not pay their installments, Ethereum can be used to automatically block the vehicle from further use.
Where does digital money come from?
Everyone probably knows what mines are. There, for example, gold or other precious metals are mined.
The English term mining is also used for the mining of digital currencies, such as Bitcoin. Only that the miners in this case are computers and not humans.
Mining itself is not used to generate coins, but to confirm transactions and make the Bitcoin blockchain secure. As a reward, the miners receive Bitcoin.
The power requirements for mining are often criticized because they are relatively high. However, the technology is advancing and the need for energy is constantly decreasing.
To make a network, a blockchain, secure, it is important that the attempt to manipulate it costs something. If one could attack a network without high costs, its security would not be guaranteed. An attack must therefore be more expensive than what could be captured if successful. This is one of the reasons why the Bitcoin blockchain has been the most secure network in the world for over 10 years.
Not all cryptocurrencies are created through mining. Of the four cryptos below, IOTA, for example, does not use traditional mining to make the network secure.
The four logos lead to information about Bitcoin, Ethereum, Dash and IOTA Bitcoin.
Important basic knowledge for entering the crypto market!
Fear and Greed Index
What is the mood in the crypto market? Fear and greed, FOMO (fear of missing out) & FUD (fear and uncertainty).