I've also heard talk about this. The worlds first multifork, not entirely sure how the Proof of Ambassador consensus will work but it seems rather promising. Who out there will be claiming their coins?

Thanks for the info

So I read an article a while back about Ethereum switching over to a PoS algorithm...  But on Ethereum classic’s twitter feed I saw a post saying that it’s going to be a hybrid of PoW and PoS. When is this change expected? Also, the Ethereum developers have said they’ll be releasing the “difficulty time bomb” on the PoW system. What does this mean for miners?

Thank you for the information. That was where my mind was going.

Cryptocurrencies have the potential to change some of the world’s poorest countries for the better so why has Zimbabwe’s central bank announced that the use of Cyptocurrency is not allowed in the country? I’ve heard this and don’t completely understand the notion behind it.

From what I understand, a private key is a key to your wallet that allows access to your bitcoins and is used to recover your wallet. It’s like a digital signature that allows someone to use their Bitcoin.

Mining is a computationally intensive process where computers verify a transaction and receive coins as a reward. Buying means traditional payments are used to buy coins

Bitcoin is not anonymous, rather pseudo-anonymous. Bitcoin addresses & transactions are not tied to the identity of users however it is really difficult to hide your identity if you do transactions outside of the bitcoin platform because your personal information may be required. Once transactions leave the bitcoin platform and are traded for fiat they can be traced and the government can regulate and monitor them.

Rapid movements of the Bitcoin price are common. Any investment can pose a risk, but the Cryptocurrency world and all the technologies it brings are not only beneficial to struggling economies but are also helping central authorities by examining inefficiencies within their financial system and is most likely to remain for many years to come. As an platform for innovation, Bitcoin is definitely sustainable. By creating something that is detached from government or regulating authority, it removed all control and so regulation will require a well-coordinated effort across several economies. This will be a difficult task however regulatory uncertainty can to be harmful to the Crypto markets but Bitcoin prices show patterns of improvement. With a global Crypto market cap sitting at approximately $1trn, acceptance becomes inevitable.

Governments are starting to understand how beneficial Cryptocurrenies can be. Poverty, corruption and inflation, are all problems for developing countries. Years of political instability and poor governance has had devastating economic effects on these counties. However, the emergence of Blockchain technology and decentralized Cryptocurrencies may help solve these problems. The rise in the value of bitcoin could boost economic growth. Crypto technologies can be good innovators for the development of other technologies which the government can use in the future.