How you explain what is cryptocurrencies to your parents? Currency of the future, Bitcoin or Ethereum?
I know many of you tried and explained to your parents about Bitcoin and other cryptocurrencies. Here i will show you how i did it and i hope you will write in comments your experience.
First of all i explained that Blockchain is Big database where all transactions stored and there cant be replacement and all sending of money is final, like - if you send 1 btc , then u sent it! nobody can cancel it or return . ( thats why i dont like EOS arbitrage thing that they can cancel transaction) .
Second point - Bitcoin is not a company , but a computer program that stored in every user of bitcoin , so Police or gangsters cant shutdown bitcoin and its MOST IMPORTANT step for decentralization.
3rd that Bitcoin is limited edition and because of that the more people know about this asset and use it, the more price of it will be in future, its like Collection thing, in the world only 21 million of bitcoins and there cant be more than that, thats why its very important to grab that opportunity.
Also i explained how it worked,stored, how to buy and so on, but the most important thing is limited edition,decentralization and Database where nobody can reverse transaction. Its hard to gain support from family without explanation.
So how did you explain bitcoin/crypto to your parents,friends?
Currency of the future, Bitcoin or Ethereum?
This time I want to give my humble opinion on this issue, which concerns us all who make life in this platform and that in one way or another we are related to cryptocurrencies. All this with the best spirit to make an informative contribution of what sustains the main cryptocurrencies of the market.
Specifically, I would like to make a discussion about the two cryptocurrencies that for years have topped the list according to the capitalization they have in the market, and they are nothing more than Bitcoin and Ethereum.
I must emphasize at this point that currently the Riple cryptocurrency ranks second on the list by market capitalization, but this has been the case since a short time since BTC and Ethereum were the first and second respectively.
All of us at some point have heard about them, and in addition to this other term: blockchain, which has undoubtedly one of the great technological advances of recent years.
Each of the cryptocurrencies mentioned above is based on the Blockchain, but with substantial differences in terms of operation or rather to what they offer.
The Bitcoin protocol involves what has been called P2P (acronym for peer-to-peer, for a pair, between pairs, point to point). As evidenced in the image on the right, (P2P-network) is a network of computers that are called "nodes", which are connected to share data of all kinds and in which each machine can act as a client. or server. This is the important thing to highlight here, there is NOT a computer that works as a center (Server-based) of all information and through it a single person can select which information is handled and which is not, in this case all computers They have the same value in the operation, all my information will arrive. (I explain?)
"This completely changes the client-server architecture that is used in most corporate computing infrastructures, in which a central computer (the server) meets the demands of others attached to its network (customers). who determines what privileges their clients have regarding access to network resources and information available on it. "
In a P2P network this privilege system does not exist. In an application that makes use of P2P networks each machine has the same privileges as its neighbor, is physically close (for example, two computers in the same house) or not (as would be two machines that share information with each other and each one is in a different continent).
Each node or peer represents a fraction of the resources of the network. The capacity of the machine provides process power, storage or network bandwidth to other participating machines, without a central computer that coordinates everything. These resources are consumed and are provided equally by each of the machines according to their power.
In other words, the traditional P2P network works by interconnecting several computers together through a hub or hub, which allows each of the users of that network to obtain the information they need from any other member. A clear example of this is that in Steemit, each user can easily see the movements of the wallet, votes, among other information of any other user.
So far I hope to have made clear what the P2P network consists of, without deepening the formation of blockes of the chain, which are purely technical aspects, now, let's talk about the mother cryptocurrency, BITCOIN.
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