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While not a perfect comparison, since bitcoin is more of an asset than money, it helps to contextualise how pervasive crypto has become and how much more there is to come. Some analysts believe this is just the beginning as more and more individuals are expected to look at novel ways to preserve and increase their wealth. Investors are coming Amid the flurry of market excitement, a number of prominent figures are flashing bull signs.
Bitcoin could be rat poison, and the rat could be cash. Staff members for crypto advocacy organisation Coin Center, digital rights advocacy group Fight for the Future, membership group Blockchain Association, and pro-privacy organisation Electronic Frontier Foundation took part in a Reddit AMA to coordinate efforts to stop the proposed rule. But if it does, the Blockchain Association plans to file a preliminary injunction or a temporary restraining order to prevent it from going into effect then will challenge on process grounds.
The problem with this rule-making is that it imposes a stricter set of surveillance and reporting obligations for crypto institutions only. With the Democrats having achieved a split, effectively taking control of the US Senate once Vice President Kamala Harris is officially sworn in, many are wondering what implications such a win will have for Bitcoin. Suffice it to say, Loeffler was far from the Bitcoin advocate the community anticipated her to be.
Bitcoin also runs on a technology called blockchain which is a public ledger of activity and a way for transactions to take place using the cryptocurrency. In comparison, the Ethereum blockchain is more like a software platform that allows developers to build apps on top of it. Users can then spend ether on these apps.
So-called smart contracts are a key feature of Ethereum. These are contracts that can be automatically executed using code.
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60+ Top Cryptocurrency Explained Simply in 10 Minutes - All Crypto Coins Explained
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