Bitcoin is a cryptocurrency and worldwide payment system It is the first decentralized digital currency, as the system works without a central bank like FRB or single administrator

The network is peer-to-peer and transactions take place between users directly, without an intermediary These transactions are verified by network nodes through the use of cryptography and recorded in a public distributed ledger called a blockchain Bitcoin was invented by an unknown person or group of people under the name Satoshi Nakamoto and released as open-source software in 2009 He is anarchist that extremely sensitive about somehow being put at a disadvantage by government He was careful enough to contact only the closest peer via e-mail from first development to now

The programmer with real name, Satoshi Nakamoto, was an ordinary programmer who was completely away from Bitcoin, and the real developer is still anonymous we will never know who has given this grace to mankind Hacking is virtually impossible because transaction books are stored on multiple users servers across a global range based on block-chain technology As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment Research produced by the University of Cambridge estimates that in 2017, there are 2

9 to 58 million unique users using a cryptocurrency wallet, most of them using bitcoin The anarchist developer was right The US government has begun to crack down on bitcoin related personnel and things ,like stock market and developer, one by one they are suspected of tax evasion, money laundering, and terrorist revenue inflows

But government can't actually control the market, cryptocurrency jumped into the biggest speculation bubble in human history it is understandable to instinctively feel rejection in the bitcoin but economic experts analysed speculative bubbles to grow and popularize as money It can be seen as a rebellion against past banks, which had blown up bubbles, disintegrated developing countries, and eroded capital at low prices along with bitcoin, there is popular one, called ethereum

bitcoin natually can't programme as government's intention It is a thoroughly anarchist currencies that can not be engaged by a third party that is why government hate this system because they have owned the history with controlling currency but ethereum is quite different

Etherium is a distributed computing platform for implementing smart contract functionality based on block-chain technology bitcoin, Etherium both are block chain Let's look at its technologic difference The bit coin is based on the block chain technique described above it is Digital money

If you buy some bit coin, the record is stored in blocks distributed to computers So it can not be hacked, it can not be controlled by outside interests like the US government, it is transparent Etherium technology provides 'smart contract' Unlike bit coin, this is a 'programmable block chain' Bitcoin is a virtual currency, but Etherium is a platform that can realize a self-certified system of existing bank

In short, it is easy to understand compare with vending machine If you put a dollar in it, the money will be turned into cola, that is automatically agreed according to predetermined conditions and contracts Bitcoin is a coin, but Etherium is a programmable platform Bitcoin is a payment technology, but Etherium is a comprehensive system that can be allowed from government to intercept and trade personal information at any time and to tracking personal information at any time under and can regulate conditions in the system they called 'Lawful'

Now, The central bank are making Fedcoin base on the Etherium technique they are Planning To Replace "Bitcoin" with "Fedcoin" Fedcoin doesn't even exist yet, and yet the Washington Post is already hyping it as the primary cryptocurrency that we will be using in the future Do they know something that they rest of us do not? We want cryptocurrencies to stay completely independent, and we definitely do not want the Federal Reserve and other global central banks to start creating their own versions Because of course once they create their own versions they will want to start restricting the use of any competitors

The one thing that could derail the cryptocurrency revolution faster than anything else would be interference by national governments or global central banks Unfortunately, now that Bitcoin and other cryptocurrencies are getting so much attention, it is inevitable that the powers that be will make a move the Washington Post published an opinion piece by Professor Campbell R Harvey of Duke University that was entitled "Bitcoin is big But fedcoin is bigger

" These days, there is an agenda behind virtually everything that the Washington Post publishes, and so it is not just a coincidence that they have published an article with "fedcoin" in the title Here is how that article begins Over the past few weeks, investors have been flocking to bitcoin, the digital currency whose value has soared by about 2,000 percent in the past year alone

And while many economists are cautioning against excitement about bitcoin — which is caught up in what may be one of the biggest speculative bubbles in history — it's important to note just how revolutionary the technology may be Indeed, the technology underlying bitcoin could fundamentally change the way we think of money Professor Harvey goes on to explain that it is "only a matter of time before paper money is phased out", and that some version of "fedcoin" is inevitable But it doesn't have to be The Federal Reserve and other global central banks could just leave us alone and allow us to create our own currencies

The cryptocurrency revolution is moving along just fine, and there is no need for any sort of interference But we have a feeling that the powers that be will eventually manufacture some sort of a "cryptocurrency crisis" if one does not happen naturally In the aftermath, they will attempt to introduce some version of "fedcoin", and many in the general public will be very thankful for the "solution" that the government has provided And that day may be closer than we think In fact, the U

S government has already invested millions into cryptocurrency research To add fuel to the fire, the U

S government has been rigorously studying Bitcoin for about two years now and instead of fighting Bitcoin, the Feds seem poised to wipe out the U

S dollar by creating their own digital currency The National Science Foundation, a US government agency that supports and funds research

has awarded $3 million to three US universities for wide-ranging cryptocurrency research

Cornell, the University of Maryland and the University of California Berkeley will focus on developing new cryptocurrency systems that, according to principal investigator Elaine Shi, will address "pain points" attributed to Bitcoin and other existing networks The Federal Reserve is far from alone Other global central banks are doing their own research, and the Bank for International Settlements says that "all central banks" may eventually need their own cryptocurrencies The following comes from CNBC Central banks may one day need to issue their own cryptocurrencies, the Bank for International Settlements said in its latest quarterly review "Whether or not a central bank should provide a digital alternative to cash is most pressing in countries, such as Sweden, where cash usage is rapidly declining," the Sunday report said "But all central banks may eventually have to decide whether issuing retail or wholesale [central bank cryptocurrencies] makes sense in their own context" This is going to be a critical phase for the cryptocurrency revolution, because the people of the world are going to have to make it exceedingly clear that they do not want central bank cryptocurrencies

Central bank cryptocurrencies would simply be an extension of the current debt-based system that is systematically enslaving humanity The thing that makes cryptocurrencies so great is the fact that they are not debt-based and they are allowing humanity to express independence from the current system As existing fiat currencies fail, we want there to be independent cryptocurrencies that people can use as an alternative And we don't have to just imagine what that would look like In fact, it is already happening in Venezuela

But in Venezuela, the collapse of the bolivar has forced locals to turn to alternatives like bitcoin and local community-issued currencies with fixed exchange rates The rapid erosion of the bolivar's value made everyday transactions like buying groceries and paying cabbies untenable – customers had to pay with large, cumbersome stacks of bolivars that were difficult to transport Patricia Laya, a Venezuela-based reporter, tweeted a photo of the 5,000 bolivars – the maximum amount – she was able to withdraw from an ATM in Caracas

They're worth around $005 Laya stated that she had waited 20 minutes in line to obtain $005 in hyperinflated currency worth little to no value, according to CCN Even though bitcoin transactions can take hours – even days – to settle, local merchants have readily embraced the digital currency

This is a revolution that has the potential to completely change the global financial system, but we have a feeling that global central banks will never let it get that far The current system funnels literally trillions of dollars to the very top of the food chain, and the elite are going to jealously guard their golden goose