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Bitcoin is a peer to peer electronic cash made possible by a decentralized database. Should You Invest in Cryptocurrencies? Request Network is waiting to launch the miannet, adoption isnt too far away.
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While this decentralization renders Bitcoin free from government manipulation or interference, the flipside is that there is no central authority to ensure that things run smoothly or to back the value of a Bitcoin. The value of a Bitcoin is wholly dependent on what investors are willing to pay for it at a point in time. Or are cryptocurrencies a passing fad that will flame out before long? Bitcoin is a technology its digital money backed by blockchain DLT a robust international network of payments and transactional/mercantile exchanges that are completely decentralized and relies on community consensus voting mechanism for the longest/honest chain. Bitcoin was the first ever true electronic value transfer of a currency in the world's history.
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Ripple, ripple was launched by OpenCoin, a company founded by technology entrepreneur Chris Larsen in 2012. Highly secured, all your transactions will be secure as it is using.
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Fiat currency issuance is a highly centralized activity supervised by a nations central bank. Like Bitcoin, MintChip does not need personal identification; unlike Bitcoin, it is backed by a physical currency, the Canadian dollar. That is definitely one of the benefits of bitcoin. As more and more people depend on smartphones to get through their daily lives, a mobile wallet application can be used to send money securely and instantly to any other smartphone with a valid Blockchain address via the decentralized network. Identity Theft, nobody can steal your personal information from merchants, which ensures the privacy of your sensitive data.
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Very few countries have legalized the use of cryptocurrencies. Bitcoin is pseudonymous which means people wont know exactly who you are on the blockchain but they can get some information from.