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Shameel K's Membership Status

Registration Date: Feb 14, 2018
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Is the Bitcoin’s Fame Era Coming to an End?
Feb 14, 2018

The Chinese government’s recent control has taken the digital currency world by a storm. The buzz which other digital currency transaction platforms may have been accumulating up until then was subsequently reversed and any exchanges between the China Yuan and digital currencies were halted.

This change essentially headed the shifting of transactions between digital currencies and legal tenders to universal transaction platforms. In the meantime, there have been a few peer-to-peer platforms and OTC Bitcoin transaction markets whose revenues have gone through the ceiling, with their volumes seeing greater highs than ever before.

As a consequence of being supervised by the Chinese government, rather than plummeting to a demise, the Bitcoin has progressed to global platforms and dawned anew with fresh developments. Although this appears to be favorable news, in truth it does not mean as much, considering that following this tremendous market wave, several other digital currencies have also enjoyed great growth on numerous global transaction platforms. This indicates that other digital currencies are gaining strength and prominence, rather than becoming irrelevant or extinct as Bitcoin may have hoped.

Bitcoin was introduced in 2009 as the world’s foremost global cryptocurrency. Throughout the years, the digital currency has confronted and overcome several substantial issues. The most significant of these problems was recently discovered when Mt. Gox’s managers’ accounts were stolen, resulting in the sale of thousands of counterfeit Bitcoins. The price of Bitcoin also fell subsequently, as it did in several other instances including the many hardfork crises, internationally prevalent blackmail viruses, supervision of exchanges by the Chinese government, and the ban on the exchanges between Bitcoin and China Yuan. Throughout these adversities, not only was Bitcoin gradually accepted by numerous countries expanding its growth, but it also rose in value by over one million times.

There have been an intense amount of expectations laden on Bitcoin to perform as the preconceived new currency and transform the way people make payments. Despite there being multiple countries which haven’t yet acknowledged the legal standing of Bitcoin, the digital currency continues to have an unquestionably strong and widespread influence over the majority of countries and people dealing in digital currencies worldwide.

The fact is that the fame of Bitcoin is not only advantageous for the success of Bitcoin itself, but also critical to the fundamental strength of the entire digital currency ecosystem. It is evident that Bitcoin is now far from being the solitary digital currency, with numerous digital currencies identical or very similar to Bitcoin having already been devised and put to use. Although Bitcoin still has the upper hand when it comes to the price, in time this edge will become less beneficial and soon cease to exist.
TPC (an abbreviation which stands for The Public Coin), is one of such competing digital currencies. Even though TPC is not as well-known as Bitcoin yet, it is experiencing exponential growth worldwide.

TPC was decoded by a team of Japanese engineers whilst attempting to decipher an unpublished article written by Satoshi Nakamoto, the father of Bitcoin, on the core applications of blockchain. It is no surprise or exaggeration therefore, that people refer to TPC as “Bitcoin 2.0”.

TPC has undergone numerous rigorous tests to determine its viability, and the currency has proven to not only be faster than Bitcoin, but also capable of overcoming several defects which Bitcoin currently contains. Additionally, TPC is also aligned with the objective of decentralization, with the national bank level security system, and is currently being applied to international crowdfunding projects.

TPC is far more beneficial than other competing digital currencies. The rapid growth and desirable qualities of the currency have caught the eye of American financial management mastermind Orman, who has held the currency in high regard. Orman’s financial perspective on TPC is that Millennials who are not buying it will come to regret it in the near future. Regardless of anything, digital currency is here to stay, and Bitcoin no longer dominates the global platforms. In fact, if Bitcoin does not optimize itself, it may one day become immaterial and overridden by its many competitors.

Howard Marks echoed Orman’s words and added that although Bitcoin still holds advantages when it comes to being a convenient way to pay, these advantages are not enough to keep competition at bay. The winning digital currencycer is fated to change the world, and currently, TPC appears to be the most likely candidate.

Thus far, TPC has accumulated over a million registrations, and bids of more than 800 Bitcoins, even though it has not yet opened for trade. This spectacular response was wildly unexpected, and begs the question; is TPC going to supersede Bitcoin? We can only wait and see.

<< June 2018 >>

Description The Chinese government’s recent control has taken the digital currency world by a storm. The buzz which other digital currency transaction platforms may have been accumulating up until then was subsequently reversed and any exchanges between the China Yuan and digital currencies were halted.
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