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The cryptocurrency exchanges are crumbling under the demands !!

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December 11, 2017 | 

749 Views | 

Joanna Newman | 

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With the technology of Bitcoin and other cryptocurrencies, we are in a situation as it was in the early days of the Internet.

That's what Yahoo's co-founder Jerry Yang thinks.

More specifically, he believes that virtual currencies will certainly play a big role in our future societies. Currencies like Bitcoin of course, but also like Litecoin or Dash.

Cryptocurrencies are safer than dollars or gold!

In the same way, Jonha Richman, investor and entrepreneur, thinks that more and more people will turn to crypto currencies and invest their money.

However, Yang recognizes that for the moment, these currencies are not yet fully operational because they are not yet used for daily transactions.

That's what he explains in an interview at the Fortune Global Forum:

"Bitcoin as a digital currency is not there yet. People do not use it to make transactions. People use it as an investable asset. Personally, I believe that digital currency can play a role in our society. Especially regarding not only the initial part of the transactions, but also the background of creating a much more efficient system and a much more verifiable system."

What's more, Steve Wozniak, co-founder of Apple sees it in cryptocurrency a safer value than the dollar or gold!

Technical problems hindered Bitcoin transactions

Apparently, this is also what the general public thinks.

The real craze that has taken place in recent days is proof of this.

As expected, this very high demand has led to technical problems for brokers and stock exchanges.

Take the case of Coinbase. She did not manage to meet the demand at the level of her brokerage. (The platform did not suffer any damage.)

Coinbase will even recruit 400 additional employees to alleviate these problems.

Regarding Coinmama, she also faced technical problems that forced her to announce that Bitcoin purchases would take between 3 and 5 days.

Transactions between individuals have not been left out. Bit2 C for example, announced that transactions should take between 2 and 4 days.

Obviously, these are all the problems that caused the strong movements on some other cryptocurrencies, such as Ethereum, IOTA or Litecoin.

CBOE Offers Bitcoin Futures Today

All these demands are of course due to the opening of futures on Bitcoin, now at CBOE. Because these contracts attracted institutional investors and with them, large financial movements: Friday's transactions arrived at sums reaching 21.14 billion dollars, against 6.61 the previous week.

And next week it will be the turn of the CME to also propose futures on Bitcoin.

There will also be an increased demand for Bitcoin and other virtual currencies, and with it there are still some technical difficulties.

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Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.

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24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.

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