Future Bitcoin will likely be "killed" by these three ways.

Since its inception in 2009, Bitcoin has maintained a strong vitality despite policy criticism and the impact of forks, and prices have soared to around $20,000 at the end of last year.

Can Bitcoin continue to be stubborn in the future, and what factors may jeopardize its vitality? On April 24th, the MIT Technology Review published three possible threats.

Future Bitcoin will likely be "killed" by these three ways.

Method 1: The official digital currency is replaced

Fedcoin, the digital currency issued by the Federal Reserve, uses the blockchain to verify the trust of financial institutions, then authorize it as a node, and finally the Fed becomes the final arbiter to check every transaction that takes place on the block.

Yale University student Sahil Gupta said that as consumers become aware that Fedcoin is more convenient than cash, companies realize that using Fedcoin is less expensive than using a credit card, and banks realize that Fedcoin is indeed a safer option, Fedcoin It will gradually replace the position of the French dollar.

At the same time, the article pointed out that this idea is not groundless. In 2016, the Bank of Canada simulated a system with such a function in Ethereum.

Method 2: Facebook takes over

Social giants like Facebook can “sneak up” Bitcoin with their huge user size and resources, or hold control of Bitcoin firmly in their hands.

The article mentions that Facebook can create a bitcoin wallet for all its users, and develop and control usage rules. For example, use Bitcoin to reward users who interact with ads. If users allow Facebook to use computer permissions for mining, they will enjoy ad-free rewards.

When there are enough Bitcoin users and miners accustomed to using Facebook's own Bitcoin software, Bitcoin is equivalent to an enterprise version of Fedcoin for Facebook.

In addition, there is a more direct way: Facebook can control Bitcoin by issuing its own digital currency.

Method 3: Companies are issuing tokens

Although Bitcoin itself cannot be copied, the concept of digital currency behind Bitcoin can be emulated. If every company issues its own digital currency, for example, you can find not only Fedcoin and FacebookCoin from your mobile wallet, but also AppleCash, ToyotaCash and the unique digital currency of each supermarket. Become insignificant.

Campbell Harvey, a professor of finance at Duke University, believes that there should be thousands of ways to pay in the future. If the dollar and gold can be used as trading means, why can't a million shares of Apple stocks be?

Finally, the article suggests that if Bitcoin is really “killed” in this way, forms such as Fedcoin and FacebookCoin are widely used. After the transaction is handed over to the Federal Reserve and Facebook, Bitcoin is decentralized, supervised, and anonymous. Is the quality that is proud of the early days still really exist?

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