Nabil and Tsiry - Cryptocurrencies

This is the thread for your comments, questions and discussion of cryptocurrencies. This is the follow up exercise to your class lesson so take it seriously - it is marked ! The people who missed the session should either ask the guys for their PP or do some research because you'll need to do this exercise too. Start with a few questions or read other people's comments and then comment yourself.

Hi everyone, if wou have any questions about our presentation don't hesitate to ask

With more research, i've found that the japanese government recognized the bitcoin as an official currency since April 2017, sorry for missing that in our presentation, however, few months later the bitcoin didn't resist against the chinese propaganda

Hello everyone !! I hope that you enjoyed our topic, and I am wondring if someone need some informations or news about this subject. I am available at any time ,so you have just to send an email to me.
I would like to inform you that the Bitcoin value increase more and more. Its value is now above 7000 USD with a huge volatility of 500% and that's proove what I said in the presentation of the probability that the Bitcoin can be the next currency of the world.

Your subject was very interesting and your presentation was good and comprehensive.
Recently, I read something about Bitcoins. Indeed, studies show that is needed equivalent of Nigeria' annual consumption to create Bitcoins. Bitcoins ' electricity consumption is particularly raised with regard to the classic digital means.
It's a real ecolologial problem and manu people speak even about an ecological disaster.

Hi i thought your subject was very interesting however i am still confused anout the algorithm concept. I don't really understand how you create a unit of money from your computer that other can purchase. Sorry if i'm not clear but IT science is not my area. Thank you for the effort you made to make this complicated topic easy to approach.

Bitcoin is a very interesting subject but very difficult to understand. I dind't understand how the bitcoin is create with the algorythm.
And i didnt think that bitcoin can became the new currency because the volatility is very high and to dangerous to be use by everybody. And a currency without control is unthinkable.

 For the first time, I have information about cryptocurrency and technlogy, and could understand some part of it. I think bitcoin is the future of currency.

Cassandra : indeed it requires a lot of electricity but i would not say that i will bring an ecological disaster, using a lot of electricity is far harmless to the climate than the oil mining or the nuclear plant's waste rejections
Olivier & Thomas: its the initial algorithm which define the conditions of creation of a cryptocurrency. For example,the bictoin provider Genesis mining try to resolve these conditions ( of course by algorithm) , when its done they have to register what they call "a proof of calculation" for each bitcoin created , so they can claim that they solve all the conditions and the created bitcoin is now usable.
You're right that everyone can create , but not everyone have the means for. To mine cryptocurrency you have to use a lot of powerful processor , so its not the kind of CPU that you can buy in Fnac, they use at least an Intel Xeon, its the same as the Nasa use and the cheaper version costs 6000 usd. And even you can buy that , there are the electricity costs, the computers. I mean creating one single bitcoin requires a lot of means, that's why genesis mining's CEO said that they Will continue to create cryptocurrency as long as its profitable for them. So if the bitcoin value collapse maybe they will stop

Does the algorithm show that cryptocurrencies are just the rich creating their own wealth?

I just know cryptocurrencies as "anonymous" currency.
But, for example, do you think it is appropriate to invest in bitcoin ?

Cryptocurrencies, a very complexive subject but well done with the presentation, i had some terrible headache that day and didn't focus. Tsiry thanks for your text below.

above not below

Admin: I think the same way because the founders of bitcoin mining will stop if its value decrease too much, so there is no economic purpose, it's just for their personal profit.
Clément : In my opinion it's too risky to invest in bitcoin, the volatility is too high and it's very sensitive to information
Nasser : Thanks !

What do you think about the bubble potential crypto currencies in the market ?

Mala23 : you mean "potential bubble" , for now the bitcoin capitalization is roughly 60 billions usd, and economists says that it needs to reach 500 billions to be considered as a speculative bubble, so technically we are still far

Hi Tsyri, Hi Nabil.
I wasn't there during your presentation so excuse me if I ask something you already spoke about during it !
My main question is : Do you know when the bitcoin is going to know a crash soon or will it continue a long time to increase this way ?
And also do you think there is a coherent crypto-currency alternative to bitcoin that deserves to be invested in? ?

Thanks for your answer !

Victor L : As i Said to Mala23 technically it needs to reach at least 500 billions usd of capitalization to create a speculative bubble. However two days ago, it fell from 7800 usd to 5500 usd , i dont now exactly the causes, and for your last question, i think its too risky to invest in cryptocurrency but the 2nd according To the capitalization is the eutherum

tsiry wrote:Admin: I think the same way because the founders of bitcoin mining will stop if its value decrease too much, so there is no economic purpose, it's just for their personal profit.
Clément : In my opinion it's too risky to invest in bitcoin, the volatility is too high and it's very sensitive to information
Nasser : Thanks !

I'm agree with that

sorry I wasn't present for this presentation

Victor L : I dont think that the bitcoin will crash because as you can see this latter increases more and more. And at the begining of 2018 the bitcoin will be regulated that involve the rise of its price again . There is a lot of coherent crypto-currency alternative to bitcoin that deserves to be invested in like ethreum, ripple and litecoin.

Recently, i looked on the TV a report on the ransomware attack subject. A ransomware is a computer program use to cript all your data, so you will pay a ransom to someone and he give you the key to uncript your data. It's used on company. This ransom has to be paid in Bitcoin because it's an intractable currency.
In addition, the largest ransomware named Wannacry was probably launched by the North Korea.
So in my opinion there are more disadvantages than advantages of the crypto currency, and this currency must to be regulated or banned.