Ten experts debate bitcoin's recent declines and the future of cryptocurrency

At the end of July, Bitcoin's price was over $ 8000. Now, in mid-August, the encryption currency has dropped to about $ 6,500.

Brian Kelly said at CNBC's "Power Ranch" held on Tuesday, "We are seeing panic sales." "For me, this is one of our long-term best entry points."

Bullish experts are comparing bit coins with early Internet companies like Intel and Microsoft. These companies will take some time to find a clue before they succeed. Meanwhile, bearish experts are concerned that bit coins and other encryption currencies are part of speculative bubbles.

Discussion on Bitcoin's extension is about the same as the cryptographic currency itself. In this article I will explain the background of discussion of Bitcoin extensions, consider the proposed solution next, and see if Bitcoin can be extended to handle thousands of transactions per second, and if possible We will consider that method. Over the years, various proposals have been proposed as a solution to increase Bitcoin's limited transaction rate. One of the most common and long-term recommendations is to increase the block size used by Bitcoin. Currently it is 1MB. Transactions are grouped together into one block and verified by nodes on the network. That is, the larger the block size, the more each transaction can be processed in batches for each block (each block is registered approximately every ten minutes).

The emergence of Bitcoin has raised discussion about its future and other encryption currencies. Despite recent Bitcoin issues, its success has influenced the creation of alternative encryption currencies such as Litecoin, Ripple, MintChip since its launch in 2009. The encryption currency that is anxious to become part of the mainstream financial system needs to meet very different criteria. This possibility seems far away but there is no doubt that the success or failure of Bitcoin that overcomes that challenge could affect the fate of other cryptographic currencies over the next few years.

Opinion differences, litigation, advertisements and satire make cryptic currency space cumbersome, and crypto currency will be the future of money. This fight is continuing here now. Regardless of whether it is bitcoin, bitcoin cash, Monero, Litecoin, or Ripple, one real determinant is use and control. I am writing on the wall. The world economy has relocated through the Internet. In this new world economy people are trading with millions of people. Fiat's currency and dollar standards failed, people are tired of greedy banks and dirty governments, they accept every transaction. Squeezing regime will try to stop it, but they will fail, it can mean a single thing: a massive reform is in progress