Future Of Cryptocurrencies

What Is the Future of Bitcoin and OneCoin? 

Digital Currency is a New Evolution of Money From the beginning, a lot of experts expressed their opposition to Digital Currencies saying that they are systems that cannot be sustained for a long time. When Bitcoin emerged in 2009, almost all the experts were against it, said it was a scam, it won’t work. But what they failed to understand is the benefits of what similar systems can bring. Instead of embracing it as a new evolution of money, they immediately dismissed it as nonsense.

The Future of Cryptocurrency

Digital Currencies are just a technological upgrade of our present monetary system: from shells, whale bones, bartering, coinage, paper money, electronic money and Digital Currencies. So Digital Currencies are just a technological upgrade to our current system of electronic money. And this is what the banks around the world are just beginning to accept.
Digital Currency is Technically Impossible to Counterfeit With regard to Digital Currencies, people don’t know what they are, some people don’t believe in it, many people did not believe in 2015 and 2016, but now they are beginning to believe in it. And today many people still do not understand it. The easiest way to explain Digital Currencies is to first understand that all paper money has a serial number on it. Each Digital Currency coin has a serial number, which is heavily encrypted, and then protected with several other layers of encryption, and all of those layers are cut out, and then randomized, and that’s how they are protected in the system. So it is technically impossible to counterfeit a single coin and make two out of one.
The Unexpected Happened
But what happened? Bitcoin went up in price and mining difficulty increased from 1 to ~. Skip forward to 2013 and mining difficulty is 37.5 million and the block reward for miners is cut in half, from 50 to 25. Skip forward to 2017 and mining difficulty is almost 2 trillion and the block reward for miners is only 12.5. What does this mean? Bitcoin is more expensive to send than Western Union or the banks. This is the basic problem.
Ripple is the Bank Coin
OneCoin has a lot of haters who are accusing us of many things. But as time is passing, their arguments are mostly lost. To put this hate into perspective, let’s consider Ripple. It is now known as the “bank” coin because Ripple is focused exclusively on the banks. In the beginning Ripple was considered a scam by the Bitcoin community, because it firmly believes that a legitimate Digital Currency cannot be centralized. But now Ripple is the third Digital Currency in the world by market cap, because they stay focused on their mission.
How Important Is Anonymity?
Monero is the most anonymous Digital Currency available because of the heavy layers of cryptographic encryption. The biggest concern of the regulators for Digital Currencies is anonymity from taxes and money laundering. People cannot register on the exchanges due to KYC requirements. Every state wants full disclosure in the money flow. And that is why cash is being replaced by digital currency. Banks are beginning to prevent Digital Currency purchases.