A closer look at Bitcoin & Etherium – What they really are – Etherium an accounting system?
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I have been taking a much closer look at Bitcoin and Etherium of later because I am very interested in their investment potential.
According to some people Bitcoin follows a 4 year (instead of 10 year) economic cycle. This is something I was not aware of.
Upon closer review, although Bitcoin is used for transactions IT WAS NOT DESIGNED FOR THAT AND IT IS BAD AT THAT. However, that is what it is used for mostly. What Bitcoin has become in recent times is a STORE OF VALUE. It now HOLDS VALUE, like Gold while also being used for transactions.
Bitcoin’s real strength is as a STORE OF VALUE – as a crypto-Gold. That’s its REAL STRENGTH and that is where it will really do well in time.
Etherium is not the same. Etherium has an Ether Coin, but Etherium itself is a COMPUTERISED ACCOUNTING SYSTEM. This is very surprising. Etherium is intended for TRADING for buying and selling and functioning on HIGH VOLUMES OF TRANSACTIONS. So it is really the "Paypal" of the Alt-Coins. But its not fully reached its true potential.
I will look some more at Etherium, but Etherium is a special kind of accounting system that has LOTS of strange functions. It is a type of computerised accounting system that runs itself.
It can even handle contracts and borrowing and lending. It does some strange things.
I’m not sure what to make of it.
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