bitcoin future – Bitcoints

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Published on July 21st, 2015 | by bitcoin

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bitcoin future

Information about bitcoin future

Bitcoin

Bitcoin is a payment system invented by Satoshi Nakamoto, who published the invention in 2008 and released it as open-source software in 2009. The system is peer-to-peer; users can transact directly without needing an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain. The ledger uses its own unit of account, also called bitcoin. The system works without a central repository or single administrator, which has led the US Treasury to categorize it as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value.
Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. This activity is called mining and the miners are rewarded with transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for different currencies, products, and services. Users can send and receive bitcoins for an optional transaction fee.
Bitcoin as a form of payment for products and services has grown, and merchants have an incentive to accept it because fees are lower than the 2–3% typically imposed by credit card processors. Unlike credit cards, any fees are paid by the purchaser, not the vendor. The European Banking Authority and other sources have warned that bitcoin users are not protected by refund rights or chargebacks. Despite a big increase in the number of merchants accepting bitcoin, the cryptocurrency doesn’t have much momentum in retail transactions.
The use of bitcoin by criminals has attracted the attention of financial regulators, legislative bodies, law enforcement, and media. Criminal activities are primarily centered around black markets and theft, though officials in countries such as the United States also recognize that bitcoin can provide legitimate financial services.

Future

The future is what will happen in the time after the present. Its arrival is considered inevitable due to the existence of time and the laws of physics. Due to the apparent nature of reality and the unavoidability of the future, everything that currently exists and will exist can be categorized as either permanent, meaning that it will exist forever, or temporary, meaning that it will end. The future and the concept of eternity have been major subjects of philosophy, religion, and science, and defining them non-controversially has consistently eluded the greatest of minds. In the Occidental view, which uses a linear conception of time, the future is the portion of the projected time line that is anticipated to occur. In special relativity, the future is considered absolute future, or the future light cone.
In the philosophy of time, presentism is the belief that only the present exists and the future and the past are unreal. Religions consider the future when they address issues such as karma, life after death, and eschatologies that study what the end of time and the end of the world will be. Religious figures such as prophets and diviners have claimed to see into the future. Organized efforts to predict or forecast the future may have derived from observations by early man of heavenly objects.
Future studies, or futurology, is the science, art and practice of postulating possible futures. Modern practitioners stress the importance of alternative and plural futures, rather than one monolithic future, and the limitations of prediction and probability, versus the creation of possible and preferable futures.
The future has been explored through several art movements and cultural genres. The futurism art movement at the beginning of the 20th century explored every medium of art, including painting, sculpture, poetry, theatre, music, architecture and even gastronomy. Futurists had passionate loathing of ideas from the past, especially political and artistic traditions. Instead, they espoused a love of speed, technology, and violence. Futuristic music involved homage to, inclusion of, or imitation of machines. Futurism expanded to encompass other artistic domains and ultimately included industrial design, textiles, and architecture.

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