NO TO BITCOIN

You can say I am a coward, afraid, not adventurer…. etc. But I am against this mysterious currency and that despite the wonderful advantages, but the greatest danger because:

1. Unknown origin:

Invented by Satoshi Nakamoto in the form of a research paper in 2008, a 39 Japanese man live in California, but that this information is false.

There are many legends about who made it, but nobody knows the truth.

2. Difficulty of production:

It can be obtained through the exchange (conversion from one currency to another), or by extraction (mining) via the internet, by free programs that use complex mathematical operations and documented (decoding series 64 bytes by other blade).

It is not an easy job because:

1. The more you produce the more arithmetic problems each time to replace the production, and not only that, but it slows down the process.

2. To resolve this issue, require huge and expensive processors to speed up the production process.

3. Of course, this consumes a tremendous amount of power.

A Chinese Bitcoin production plant contains a 2500 machine capacity 230 GB per second, each. (That means almost 230 billion calculations per second, per unit), the electricity bill is $ 60,000!!!

3. Value:

The value of any currency depends on:

1- linking the contents of the Central Bank currency issued him (precious metals such as gold, silver, government bonds etc …), where the bank cannot be issued more than that and the only reason for inflation and the collapse of the country.

2- confidence in the government of the currency, for example, on the US dollar, which break ties with gold in 1973, however, under the people and governments to deal with.

Bitcoin is not linked from a bank or a financial institution, so it does not have any value only in the Internet through dealers by link, and that’s why speculative enormous price tag, dollars to 13 has begun, and then exceeded epicanthic thousand dollars, and then their value fell by 20% after the site crashes exchanges across Bitcoin MT.Gox.

4. Universal acceptance:

The fact that this currency unknown and not supported, it isn’t accepted by some governments, such as China, Russia or accepted with complex conditions like USA, because it can be financed suspicious operations or dangerous, like a website called silkroad site who traded drugs, weapons…etc, which confiscated this enormous amount of currency.

However, there are governments accepted the deal, like Germany who imposed a tax on the owners.