Bitcoins and the perspectives of using them in the upcoming years

Bitcoins and the perspectives of using them in the upcoming years

 

Bitcoin itself. While WebMoney Transfer, Skrill or the famous PayPal are electronic payment systems.

Bitcoin

Bitcoin

But there are also real electronic currencies, and one of the most popular is Bitcoin. It is completely virtual. In the original form it can be used to pay for goods and services, for transfers and other operations. Nevertheless, it can be withdrawn – exchanged for physical money. Unlike WM, Yandex.Money and other digital payment units, you can exchange Bitcoins into absolutely any currency. In order to do this, you can use special online services that are easy to use, convenient and reliable.

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How and when it was created. The development of a peer-to-peer network for the Bitcoins trafficking was launched in 2007. It was based on the principles of “b-money” – the crypto currency, coined in 1998.

The protocol in which the Bitcoin network was described was published in 2009, and in May 2010 the first transaction was made – one owner of Bitcoins purchased 2 pizzas for 10 thousand coins.

Where do they get Bitcoins? The Bitcoin network essentially does not have a single emission center, that is, the place where this currency is produced. The very process of production of Bitcoins is called “mining”, and any person with a powerful computer can take part in it. The Bitcoin system provides only one opportunity for additional emission – the new Bitcoins are given as compensation to those who generated the next block, which is the combination of transactions. Not any generated block can be accepted by the rest of the Bitcoin-hunters: there are lots of demands and conditions to be met, besides all the information is accessible and every step or transaction is thoroughly checked. The volume of Bitcoin emission is known in advance (nowadays – up to 2,033).

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Who can own and use Bitcoins. Anyone can use the BTC crypto currency. To do this, one needs to go through the registration procedure on the official Bitcoin website and install the appropriate software, through which the user will perform transactions and monitor his BTC-wallet. In addition to the “mining”, you can receive Bitcoins as payment for services, goods, as a gift, charity or just buy them at the corresponding virtual exchange points.

Pro et contra. The advantages of the Bitcoin system (as well as of any other crypto currency) are:

  • Record low, or often, absolutely no commissions;
  • Efficiency – the implementation of any transactions; regardless the distance and amount it takes no more than half an hour;
  • Unlimited – the only thing required for any transaction is the Internet access;
  • Impossibility of blocking the account and seizing Bitcoin-savings;
  • Impossibility to levy taxes from owners;
  • High level of anonymity and security.

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Like any other payment option, the Bitcoin system also has its disadvantages:

  • Bitcoins are still known to a very limited number of people. As a consequence, it is not always easy to spend them as payment for some product or service;
  • Like most young currencies, the Bitcoin rate is very unstable – almost every major transaction affects the value of BTC in one way or another;
  • The software and its functionality are still being developed.

As you can see, Bitcoin has both advantages and disadvantages, and the experts give quite contradictory prognoses, but nevertheless, the rapid growth of the rate of this crypto currency clearly indicates that it can become a bonanza.

Artificial intelligence and its future: forecasts, areas of use and possible problems

In the world of rapidly developing technologies, the topic of artificial intelligence and its significance for the future is gaining more and more popularity.

AI

AI (Artificial Intelligence)

First of all, we should define that artificial intelligence is the ability of machines, computer programs, and systems to perform intellectual and creative functions of a human, to find independent ways of solving the problems, to be able to draw conclusions and to make decisions. The academic community predicts the emergence and active introduction of smart machines into a person’s life in 10-30 years. However, one can say that the development of artificial intelligence will have apparent impact on society, economics, and interactions between people in the future.

The influence of AI on the economy and labor market

Predictions of scientists on the benefits of artificial intelligence in the future are very different, but all of them stick to the point of view that new technologies will change labor market drastically. These changes will affect millions of jobs, as it will be more convenient for people to shift part of the routine tasks to a machine, and to engage human resources in various scientific researches and all sorts of creative work.

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Such automation can also affect qualified personnel, which can lead to unemployment, leading to negative effect on economies of the countries. Thus, government and scientists must think of such consequences in advance, and to develop a plan of adjusting society to a new life.

Unemployment is an important aspect and a point of concern of many scientists. Bill Gates, for example, offered to oblige robots to pay taxes in order to reimburse the amounts that people could pay as income taxes. Ilon Musk in his turn proposed to introduce a universal basic income in order for each person to get a certain amount of money required for living.

Is artificial intelligence is a person or not?

Another hot topic is if a robotic system is a person. There are many discussions on the necessity of giving status of ‘electronic personality’ to robots, for these machines were designed to make people’s life easier, along with smartphones, computers, and other gadgets. The problem that such machines have AI makes the issue a lot more difficult.

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Many experts in this industry announce that in less than half a century mankind will witness the appearance of a real artificial intelligence, which will be much smarter than its creator. Such AI will have an incredibly wide range of intellectual tasks and will be able to think independently. Foresight Institute Organization supports the view that such robots must have data on ethics in their basic parameters, so that it becomes the basis for their decision-making.

The future of artificial intelligence

The future of artificial intelligence is rather vague so far. Despite the work of many research centers, it is necessary to accept the fact that many people are afraid of independent AI, having in mind a threat to their jobs and a risk of mistakes driving it out of control. There is also an opinion that people can be replaced by robots, which may one day become a new dominant form of life.

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These fears are not groundless, and they slow the development of this sphere down, even though many people approve positive effects of using AI as assistance in managing the household activities and performing other routine duties.

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