As a result , businesses are increasingly tubers Bitcoin performance problem . Software is the leading exchange Mt.Gox it handles about 80% of transactions with Bitcoin . If a business fails, the currency will decline rapidly . In fact , the terrible price hike in April 10 caused by a software problem in Mt.Gox , has frightened many people using Bitcoin . Perhaps because the legal status of this kind of money is unclear . On March 18 , network control financial crime (Financial Crimes Enforcement Network) , an agency of the US government has proposed to regulate the exchange of Bitcoin , which suggests that the agency can not afford causing them to stop working .
Mike Hearn , an expert on Bitcoin , said that technical issues would have to be addressed phuc.Vi have a lot of users to join this network so the amount of data required to circulate and control of them ( to determine proving the ownership of each Bitcoin ) is growing , which makes the speed of the system slows down . Technical fixes can fix this problem , but to implement it is very difficult . Because it requires users to upgrade and software for Bitcoin mining . Mr. Hearn fears that such money can grow too fast for its inherent features .
Moreover , Bitcoin is also subject to the competition of the coins " virtual " other .
And the threat really worth attention . Currently there emerged many alternatives . Litecoin , a copy of Bitcoin , is a concrete example . So far it is only used for a small number of nuclear or a community of passionate system of brain activity ( computer programming or use of the Internet , ... ) but it also has increased in price end of the year. There are rumors that soon will be able to Litecoin traded on Mt.Gox .
One other alternative but used less than the ripple . Chris Larsen , a well-known entrepreneur in Silicon Valley , co-founder of the company OpenCoin ( started operation after the occurrence of the ripple ) , said Ripple was assessed would be easy to use than Bitcoin . The transaction is approved ( or not ) in just a few seconds , much faster than ten minutes when needed to a normal Bitcoin transactions are confirmed .
OpenCoin expected to start rolling Ripple to the public in May next . The company has generated 100 billion Ripple , and promised not to increase this number up . To increase the strength for this new currency , 75 % of the money OpenCoin Ripple came to market, anyone who opens an account will receive a year OpenCoin Ripple , taking account of people moving to Ripple Bitcoin will get more. OpenCoin retain 25 % of the ripple to ensure value for Ripple
One of his note said Gallippi BitPay firm , a company like Visa can easily create a separate system of international payments instantly with cheap rates .
And what would happen if a country concerned with the issue of money based on the algorithm ?
Everything can happen , Bitcoin could collapse , the user is willing to use other virtual currencies instead. But one thing is sure, it is a lasting impact of the currency " virtual " to the financial markets .
