Here are the 5 Bitcoin (BTC) news of the week for you to start with

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In this ochtendupdate we get different news at. Among other things, the price of a Bitcoin as well as the comparison with a bank will be covered. Also, Anthony Pompliano, with a great discussion on CNBC, and a short explanation on the (dis)utility of a 51% attack.

Contents

1. Bitcoin (BTC) price list

The price of a Bitcoin is below the threshold of $8,000 to up to no good. At the time of this writing, you pay for one BTC is $7.916. This is 2,57%, lower than a day ago. The volume has been in the last few days it has risen from $9.5 billion to $12 billion.

2. Bitcoin as a sound investment

By 2019, the price of Bitcoin more than doubled. In spite of the fall in the price of the to $14,000 at the current ~ $8.000, is BTC a lot in the countryside.
At the beginning of this year, it took Bitcoin for only $3.700. In the first ten months of the year, the cryptomunt 114% more valuable they become.
This performance is many times better than the best of U.s. equity securities. The gold is in this year, a 17% increase in the S&p 500 gave up 21% of profits.

In the past few years, the term ‘store of value’ and the ‘safe haven’ is increasingly referred to as. Due to the political unrest, it seemed as if there was en masse for Bitcoin to get in was going to be. Bitcoin seems to be more and more as the official public investment is seen to be.

3. Bitcoin vs the banks

Sometimes, you will forget it again: Bitcoin is a new kind of money. It’s more than just a speculative asset as an investment is used. It is designed for rapid, low-cost, and, especially, the distributed transactions.
In the case of transactions by the banks, these three items is simply not an unique selling point. Quite to the contrary.
According to a report from Bankrate’s walk, the average fee for using an atm machine in the direction of $5. Two decades ago, the fee was about $2.

The service fees, and also like it. And the Bitcoin network. Since the introduction of the SegWit, we can see the transaction fee as it may be affected. The average costs are currently $0.50 each. The Lightning Network, he didn’t have to talk about.
The greed and the business model of the banks to play Bitcoin on the map!

4. Safety and security of the network

Tuur Demeester share on Twitter a number of screenshots that Greg Maxwell, a Bitcoin core developer, explains what’s going on with the 51% attack on the bitcoin network.
In bitcoin, it should not be possible to get the coins two more times to give up. This is the well-known “double-spending” problem (or, commonly said, money printing). This requires the network to be monitored.
A logical step would be to see that each of the first transfer of an address that is valid, and all of the other following the other payment will be invalid.
He says, however, that it is not so much from the first transaction, the first by an “attacker” is used: “In a truly decentralized system, “first”, it is both logically meaningless.”
In a lot of blockchains are going to do this ‘first’. With Bitcoin, it is different: it is, as it were, in order, a vote or election. And then, not by man, but by computing power. For this measure, it is not a tussenpartij is required.
With a 51% attack, you will have to handle that, “the first transaction”. The whole of the network is outside of the malicious parties will simply have to work the split-off (a hard fork). Below you can read the entire comprehensive story of Maxwell.

5. Anthony Pompliano

Finally, it is also a ‘speech’ by Anthony Pompliano to the organisation itself. In just fifty seconds, he explained clearly that he did believe in the future of BTC.
The question was, “why would you want Bitcoin to use it if you have the American dollar, is appropriate. Please see below for the answer: the unique properties of the different types of target groups to be very interesting.

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