At least that would be something real
How can this not be stopped now? The original argument for bitcoin was that it's limited. Yet these innovators keep getting more machines and more things like bitcoin but not bitcoin. Now there's blockchain, which is made from lots of bitcoins so they can be used more easily in transactions. Are governments really going to let that happen?
I'm wondering if gold and silver, the real deal in ones possession, will increase in value. This cybercon could cause chaos when it collapses. JMHO, I know nothing except what I read.
Wow. I don’t even know where to start....
Nearly everything you said right there is wrong.
1.) They can create different TYPES of cryptocurrency (alt-coins) but they can’t create more Bitcoin than the mining process will allow. The mining process creates a few Bitcoins every 10 minutes or so and will continue to create less and less for the next hundred years. Once 21 million are created (around 2100) there will be no more. Just like there are different types of metal that can be traded - gold, silver, copper, nickle, aluminum, platinum, etc... There can be different types of cryptocurrency. If Bitcoin is the digital version of gold, LiteCoin could be silver, DASH could be nickle, etc... The value of the new coins is decided by the market and how much people think they are worth. If people believe they are useful for a purpose they will value them higher and pay more for them.
2.) Blockchain is the technology that allows Bitcoin to work. It is a public distributed ledger that can be used for many purposes but in Bitcoin’s case it keeps track of the Bitcoin transactions. Think of “blockchain” like “database”. A database can be used to keep track of your bank balance, a baseball card inventory, user information at Facebook, etc... It is the technology that is used to allow some activity to happen. A blockchain can be used to keep track of crypto transactions, it could be used to verify contracts, it could be used for secure, verifiable voting systems, etc....We are just now starting to scratch the surface of what can be done with blockchain.
Bitcoin may continue to hold it’s value or it may crash and go away. I don’t know. The blockchain technology that it runs on is not going away and will be the future of computing in 10 years.