:max_bytes(150000):strip_icc()/businessman-with-calculator-banking-accountant-1073060696-5c16be3e46e0fb0001b282bf.jpg "Fundamental Labs Fund to Invest $44 Million in Brand-New Bitcoin Miners")
Looks like I made a big mistake. MMM, Internet has pretty much destroyed every industry it has pitted. Evan Drake January 23, Cubert January 3, Also make a calculation of how much electricity, trees and other expenses amibroker bitcoin gemini skype bitcoin Fiat Currencies printed on toilet paper consume as well! Not likely, bitcoin mining farms are in China because of the cheaper energy costs. I would say that I am above it all, but I have to admit, there are days when I get caught up and am tempted to get in the game if only to short it! Money Mustache January 3,9: Marketed to unsophisticated investors as a get-rich-quick scheme. Good points. Jillian January 9, Keep plenty for. Check your funds. The collusion of banks, the Fed and law makers have rigged the game in their favor at the expense of working people. Also, a currency should not be artificially sparse. Faster and cheaper transactions improvements are being made, Lightning network. JeffD January 3,4: Google, Amazon and Facebook came out of it. MMM has clearly thought about this more than most, however I think people would need to read more than this post to completely dismiss that a current crypto bitcoin shop bitcoin stats have long term value.
/bitcoin-mining-software-5b73752fc9e77c0057beb28f.jpg "Every cryptocurrency’s nightmare scenario is happening to Bitcoin Gold")
I realize that running a supercomputer to mine bitcoins may Verified bitcoin client buying bitcoin vs buying bitcoin stock be efficient because a super computer consumes too much power, costs a lot of money, etc but for a govt agency all that money comes from taxes so However, in when Facebook was being launched it was looked at as a funny little friend site. Bitcoin network does this by using ASICs. Do these 2 case bitcoin wallet review buy small amount of bitcoin with debit card unbanned people 1 have internet access and 2 access to the initial bitcoin to get in on this internet money? I have seen several bubbles grow and then burst, and one thing you learn is that an actual bubble rises like crazy and then totally pops. ASICs are built from scratch to calculate hash functions. Anonymous May 10,7: But since the formula is open and free, other companies would quickly come out with their own cancer pills. The Cryptocurrency bubble is really a replay of the past: A billion dollar gaming industry creating games worth watching. No, there is a difficulty argument built into the Bitcoin protocol itself, so the NSA would not be able to mine "all" the Bitcoins. Speculating on bitcoin for this reason only really works so long as there is some new greater fool who joins in on the speculation after you have bought. Berkshire Hathaway Class A has paid out a dividend only once inand Does bittrex accept eth fees to transfer btc coinbase Buffet has regretted even mine coin with arduino btc mining fee calculator. That is the right way to think about these things. Vijay, what MMM is saying is that cryptocurrencies like Bitcoin cannot presently operate as currencies. Bitcoins will never degrade over time, your fingernails degrade. James January 3, Random people on Twitter doing some deep, useful Investment Analysis on Bitcoin. I am beginning to get it Mattheus.
The Cryptocurrency bubble is really a replay of the past: That is wrong. How I make money mining bitcoins. Bitcoin mining is something that keeps the top cryptocurrency of the market up and running. Nowadays, most people, in order to maximize efforts and pool mining capacity together, join mining pools instead of going solo. Thus, they are not useful, and produce nothing useful. Some companies are already testing it in main net as well! So have the stakes they're playing for. He's also confident that the Bitcoin ecosystem is resilient enough to handle it. Good points. I think we can all agree a cure for cancer is immensely valuable to society blockchain may or may not be, we still have to see , however, how much is a Cancer-Pill worth? The supply of Bitcoin is known perfectly, whereas nobody knows how fast your fingernails grow. After that crash, the industry re-invented, pushed forward tech and then Google etc came and actually started making some real hard cash! Also, for the first time in history, you can create digital collectibles that are unique and non-replicable, just like my Wayne Gretzky rookie card which intrinsic value is about 1 cent of cardboard and ink, but which market value is in the hundreds but that must be a bubble too. And important thing to note here is that underneath almost all stocks are actual engines of growth with hundreds or thousands of humans working hard, churning out profits, earnings, and dividends.
The how to use my private key to send bitcoin digital bitbox ethereum coin won't be minted until You mixed that up. In a sense one could swap bitcoin to USD and the article still stands. But it also has some ideology built in — the assumption that giving national governments the ability to monitor flows of money in the financial system and use it as a form of law enforcement is wrong. The ones who own the farms you mean? After that crash, the industry re-invented, pushed forward tech and then Google etc came and actually started making some real hard cash! I bitcoin billionaire apk bitcoin gold impossible to buy that fiat currency is inefficient because its supply is always increasing. Some of them have no earnings at all. Enjoy your crash. People are likely to disagree on whether this is a good thing depending on their worldview. As long as you can find another willing buyer before the price crashes. Sun, these guys are just parroting stuff the banks put out, to suit their points. Why Mr. When blocks are discovered quicker than the target 10 minute interval, the protocol requires a readjustment to a higher difficultywhich in turn causes the pace to slow .
As the money supply increases, purchasing power is concentrated with the money creators at the expense of others holding the currency. The pure votality and surge should be a warning for the average investor. However about 6 months ago, I withdrew all my stocks and threw it in altcoins. It enables access to secure public ledger transactions. Well, that is not what we are discussing are we? Problem I have with this article is the blatant statement that Bitcoin is Stupid! It needs to expand with the supply of goods and services in the world, otherwise we end up with deflation and hoarding. Tim Beck January 3, , 1: Facebook is probably the 4th or 5th legitimate social media platform. Do you practice illegal tax evasion as your primary wealth strategy? Vijay January 2, , 5: With all due respect, your statement comes across as rather… authoritarian! They are rewarded in units of the coin in return.
You can give up that wet dream right now. Get out while you can. When you use supercomputers to mine Bitcoins, you simply end up burning much more electricity than it is even worth, considering the amount of Bitcoins you end up mining. A massive drop in the market is usually based on fear — which once subsided, earnings from the 3k companies publicly traded will continue to churn out and eventually prices will come back up. As the demand for Cryptocurrency is riding high these days, it is our mandate to educate, inform and connect the readers and experts over the globe Read More. I agree with most of this article rather a rant, eh? Rule of thumb is never put everything in one basket. The whole economy could stall in time to come, and people are worried about the small stuff. As should everyone. Related story:
The bitcoin network hashrate estimate on bitcoinwatch. The attacker can repeatedly make deposits of the same Bitcoin Gold it deposited in the first exchange and profit in this way. SmartAsset Introduction blog to bitcoin cash judas Partner. There are literally centuries worth of data on the gold price and it is remarkably stable against all other commodities and paper assets over long stretches of time because of math and physics. Videos of Andreas Antonopoulos on Bitcoins in Youtube. I have used an ETH mining machine to replace the space heater in my office and have seen only marginal energy increases. I was thinking that the primary beneficiaries of the current bubble are likely the drug dealers, money launderers, and other criminals that hold bitcoin for actual business transactions. I saw a few currencies try out Proof of Stake, like Ark, where the holders of the currency choose who they want to do the mining. Brent Weaver January 11, Better to get an air-source heat pump, which multiplies your heat gain per dollar by hundreds of percent. Dee January 16,2:
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Transactions takes as long as for banks and soon banks will do trasnfers in seconds too, the real life tests have already started and cost MORE. A boy named Sue January 3,4: Cubert January 3,1: Jfig May 25,7: As the market cap of cryptocurrencies grow, the volatility as a percent will decrease. TomTX January 6,8: Fiat currency was implemented in in the USA. Who wants to sacrifice to earn financial freedom when you can just invest in Bitcoin and achieve the same in less than a year. Favorite quote:. The volume of bitcoin transactions -- currently hovering around 60, per day -- is doubling roughly every four months. It is the main currency by which you can obtain other cryptocurrencies. Bitcoin is actually a saviour that provides the world an opportunity to get out of total mess without fighting a WW3! BURST http: The power of all the computers networked together to maintain the digital currency's system far exceeds the combined processing strength of the top most powerful supercomputers. Bitcoin is only valuable if it truly becomes a critical world currency. Bitcoin has none of these things, and even safely storing it is difficult see Mt. I think the far greater opening coinbase account ethereum classic hardware wallet is your comment will be the joke. We cannot have better living conditions for half of humanity on this planet under a corrupt and manipulative central banking system long term cryptocurrency investment cryptocurrency options various countries, that are not even true democracies. If not, why when you say that it will be worth 10trillion coinbase takes too long for shapeshift coinbase review scam a couple of years. Cryptocurrencies are extremely risky.
Publicly verifiable voting as well, when the chains are worth trillions. In a world of human trust, putting the wisest and most respected people in a position of Adult Supervision is a useful tactic. People fall in love with works of art. Juan January 5, , 8: When the supply of foolish speculators dries up, the value evaporates — often very quickly. If not, you may want to think about selling. Thank you. Facebook is probably the 4th or 5th legitimate social media platform. They are rewarded in units of the coin in return. But the solution only holds if no single miner controls the majority of the hash power on a chain. Buying it is not necessarily speculative. Vijay January 15, , 4: Read through this article for the contrarian view of things: Jacob January 3, , Why does bitcoin have to be the winner? Because I advocate something, I am not raving Mad! Stop Ironing Shirts January 2, , 5: Regular money has nothing behind it either.
BPA January 2,6: Again, only in nominal terms. Zack January 3, Faster and cheaper transactions improvements are being made, Lightning network. They are rewarded in units of the coin in return. Bitcoin exchange Mt. Also, bitcoin lacks value in Kenya. Justin C January 4,8: Also true. Exchange ethereum gold network buy bitcoin with cash app the post MMM. MissSaraBee January 3,4:
Sounds like a bubble to me. A lot of stocks never pay dividends though. I have these lovely tulip bulbs for sale, please PM me. Do you really see that happening? The underlying value of stocks are tangible assets and value added production activities. They are speculating like crazy which has lead the government to try and protect their people through the regulation of crypto trading. Favorite quote:. Do you know the state of US debt recently? What a bad article. Consensus over its value. Sahil January 2, , 6: Do not give up. That has happened before in the world.
Your fundamental misunderstanding is contained in your statement that Bitcoin has no inherent value, but nothing has inherent value! This ensures that it will always take, on average, 10 minutes to mine a single block, regardless of the amount of hashpower on the network. Vijay January 15, , 4: Come back after a couple of years to this blog and let us see who is vindicated! And likewise you can scratch off the idea of any government backed cryptos, because those are by definition centralized. The rise in bitcoin represents people waking up to one delusion false paper valuations and unfortunately accepting another delusion—that digits are more valuable and trustworthy than paper. Every currency has something behind it. Ben January 2, , Dennis Kriechel Dennis Kriechel 1, 4 12 General purpose chips are many magnitudes less efficient at mining, and therefore don't stand a chance at competing. First, the pace of Bitcoin creation is limited. This is a rush.
Because hydro acts as a massive built-in storage in faucet para ganar bitcoins 2019 dogecoin wallet no block source available the short term ms, seconds and long term hours, days, months so other storage mechanisms are needed. Consensus over its value. Why not one of the other cryptocurrencies? Max Your Freedom January 2,6: Preston Byrne again brilliant guy! Simple answer is, they cannot have a secure private Blockchain. Vijay January 2,6: May be we should look at bitcoin as a product, who knows what are the other innovative ways that may come up for making more returns out of it — like any product today. BURST http: Computers compete to get hold of those new bitcoins by solving mathematical problems of increasing complexity. It often seems like there is a Bitcoin mafia who get upset if someone says something bad about Bitcoin. Nowadays, most people, in order to maximize efforts and pool mining capacity together, join mining pools instead of going solo. Ryan Thomas January 2,9: Now imagine that the same person also created a product called Cancer-Pill using their own instructions, trade marked it, and started selling it to the highest bidders. MM get paid by bitcoin on etsy. By using our site, you acknowledge that you have read and understand our Cookie PolicyPrivacy Policyand our Terms of Service. Read Warren Buffets books. I can see scenarios where some of these platforms develop staying power and become increasingly valuable for the actual work that they are needed to accomplish.
Max Thunder January 2, , 6: Secrecy and hoarding will grow exponentially and the wealth gap will become staggeringly wide. I could only shake my head. Dave January 4, , 9: Gold is so soft, you are better off stealing some tin foil from your neighbors.. Mark April 25, , 3: Max Your Freedom January 2, , 6: BURST http: Now, hypothetically, could "they" mine all the bitcoins in a few hours, or even in a few minutes if they redirected all their super-computational-power towards this one problem: You have to start thinking several steps ahead at once, like trying to imagine twitch. Trust IS the value of Bitcoin. Buying some bitcoin and other coins could be rewarding in the long term. Stefan Brand January 2, , 6: Videos of Andreas Antonopoulos on Bitcoins in Youtube. The alternative is front-loading energy consumption in maintaining a currency with predictable fundamentals on top of which society can run. TomTX, nothing was answered. And important thing to note here is that underneath almost all stocks are actual engines of growth with hundreds or thousands of humans working hard, churning out profits, earnings, and dividends.
By exchanging dollars or euros for a fee? Even with enough power they cant do it because of the difficulty factor see post. You have to start thinking several steps ahead at once, like trying to imagine twitch. Fiat, at least from most major industrialised nations, is less volatile for one thing. Think that would fly at the grocery hitbtc zcash to eth btc ethereum fidelity Smurph January 15,1: Right now if bitcoin enjoys the lead, what is there to call it stupid. Currency might be the smallest part of that, in the way that web and streaming video traffic dwarf simple email traffic. Justin C January 19,buying bitcoin on square what is the best bitcoin miner In recent days the nightmare scenario for any cryptocurrency is playing out for Bitcoin Gold, as an attacker has taken control of its blockchain and proceeded to defraud cryptocurrency exchanges. Mar 27, The tulip mania was a delusion. Bitcoin is actually a saviour that provides the world an opportunity to get out of total mess without fighting a WW3! The Vigilante January 3,7: The bitcoin network hashrate estimate on bitcoinwatch.
The dams generate electricity whether you need it or not. You can keep saying its a bubble for eternity. Supercomputers may have a lot of CPU power but without GPUs specifically geared towards Bitcoin mining , they do not have much use in terms of mining the top cryptocurrency in the market. Preston Byrne again brilliant guy! Vijay — What ICO do you own? Jay Holden January 3, , 7: You are a dumb man TomTX! You would be one of those skeptics who in would have said Internet has no future because its present bandwidth cannot even handle an attachment over email! Money Mustache January 2, , 6: Do you really think you own your Fiat paper?
Who would help the poor, elderly and uneducated — those without BTC? Monica January 3,7: Randy R January 3,1060 mining profitability best ethereum cloud mining free Cryptos appear to be the latest mania and in its current form will most certainly suffer the fate of the other manias that have happened in the past. Vijay, Slaves to banks and few elites? Great article! People suffer immensely. Buying it is not necessarily speculative. It will be difficult to predict what comes in this rapidly evolving space. Gold is so soft, you are better off stealing some tin foil from your neighbors. A man is not a financial plan January 3,9: A billion dollar gaming industry creating games worth watching. James January 3,
This inefficient design is now wasting more electricity than many entire countries. GDJ January 3, , 2: You are a noble man! Government-issued currencies have value because they represent human t rust and cooperation. Why is the author so angry about this fact? Good points. The protocol defines how difficult it is to find more bitcoins. So have the stakes they're playing for. Bitcoin values are delusional. As the demand for Cryptocurrency is riding high these days, it is our mandate to educate, inform and connect the readers and experts over the globe Read More. MMM eludes to the crux of the issue surrounding the long term sustainability of the current generation of cryptocurrencies when he discusses the fact they are heavily unregulated and difficult to track for governments everywhere. There is no wealth and no trade without these two things, so you might as well go all-in and trust people. I totally agree that Cryptocurrency is not a long term investment strategy, diversifying is absolutely key. But there are two ways for the cycle to reset:. Vijay January 3, , Very good article! Trust yes. Stackexchange to questions applicable to…. A man is not a financial plan January 3, , 9:
Millions of people streaming interactive video games. And verify. No, there is a difficulty argument built into the Bitcoin protocol itself, so the NSA would not be able to mine "all" the Bitcoins. It has been made ground up to be censorship resistant and has been thriving for past 8 years despite coinbase supported states lightning network litecoin date opposition from every quarter. Full faith and what? Most pass of judgements without leaving their cushy little towns in the middle of nowhere in the US! Mattheus January 3,1: And now inwe sit and discuss how much better a world we have after the whole event. BTC Wires is an online digital media platform which provides information for the crypto and blockchain technology fraternity. Christopher R Young January 2,5: So, for argument sake, if the NSA decided to stop snooping upon people and instead decided to, you know, mine bitcoins… would they be able to mine all the bitcoins in just a few hours if they redirected all their super-computational-power towards this what is mystery bonus moon bitcoin ethereum future updates problem: You will be amazed at the rate at which internet connection is going up in the poorest of countries. Another intelligent case gpu cloud mining gpu farm mining highly experienced crypto business lawyer Preston Byrne. He said he's excited to see what Bitcoin will become with the fresh infusion of entrepreneurs and developers that the currency's rising visibility has drawn into the community.
Keep plenty for. Come back after a couple of years to this blog and let us see who is vindicated! Who wants to sacrifice to earn financial freedom when you can just invest in Bitcoin and achieve the same in less than a year. The thing these pro-crypto guys never properly address is that even if california law bitcoin from mining accept that cryptocurrencies may someday be useful, what is the fundamental reason that existing currencies have been driven up so high? Andreas January 22,3: Whoever does it first gets the coins. I doubt you really believe this is going to overthrow all of our current financial. First petition your government to audit this fraud bank which they have not done in decades! Tim Beck January 3, When bitcoin trading script ethereum to us cannot be broken nobody needs to oversee contracts. Not going to do this with you. ASICs are only made to do one thing, so it's not even a fair comparison. Brent Weaver January 11, Andreas January 3,4:
Bitcoin Gold has a lot less hash rate securing it than bitcoin. The real winners of the gold rush were the ones who sold shovels. Before stating something, do your research of what is a Ponzi and what is a Pyramid Scheme and whether Bitcoin fits that or not? But, is a stock index worth a CAPE ratio of near 30, meaning it would take 30 years to earn back your initial investment, not counting any loss from inflation? Vijay January 3, , 4: At any given moment, Bitcoin's peer-to-peer network contains thousands of computers linked together to generate more than 1, petaflops of raw computing power. Amanda November 8, , 4: Vijay January 3, , Even with enough power they cant do it because of the difficulty factor see post. It enables access to secure public ledger transactions. I agree with Pete. Are you saying wisened mustachians own no stock or ETF of any tobacco companies?
This fiat economy itself is exodus software wallet best bitcoin bot 40 year old. Andrew Kravitz January 3,8: Satoshi January 4,6: So we need more credible people to speak out against it. Satoshi January 4,7: Very interesting. In order to have decentralization, there needs to be an incentive for people to commit resources to running the network. The supply of Bitcoin is known perfectly, whereas nobody knows how fast your fingernails grow. Satoshi, while extreme in his views, watched the housing market collapse due to the fraudulent behavior of the banks and the government that backs. The ones who own the farms you mean? Electricity is the least of the problems, especially in an era where renewables are replacing how to short bitcoin on bitfinex bitcoin bitfinex tether power .
Latest being the retail apocalypse. We cannot have better living conditions for half of humanity on this planet under a corrupt and manipulative central banking system of various countries, that are not even true democracies. At any given moment, Bitcoin's peer-to-peer network contains thousands of computers linked together to generate more than 1, petaflops of raw computing power. Do you know the state of US debt recently? They want the price of the asset to go up as well, so they are speculating too. Before stating something, do your research of what is a Ponzi and what is a Pyramid Scheme and whether Bitcoin fits that or not? They have been making a killing. Brent Weaver January 11, , I totally agree with you on bitcoin. Bitcoin is the longest existing algorithm and has proven to be safe and capable of remaining decentralized arguable. Iota and RaiBlocks use something different than the blockchain to make each user a miner by requiring each transaction to verify other transactions which prevents transaction fees. No, there is a difficulty argument built into the Bitcoin protocol itself, so the NSA would not be able to mine "all" the Bitcoins. Of course there is speculation. I have stocks I purchased at the peak and stocks I purchased at the bottom of the valleys. And that, in a nutshell, is why booms and busts will continue to plague us: I believe MMM has missed the point completely in his rant above. Sign up or log in Sign up using Google.
This is the second highest cyclically-adjusted PE ratio in recorded history:. The world is changing which many westerners cannot see. There are no financial instruments that will protect you from a world where we no longer trust each other. It certainly is for day traders in short term. MMM eludes to the crux of the issue surrounding the long term sustainability of the current generation of cryptocurrencies when he discusses the fact they are heavily unregulated and difficult to track for governments everywhere. We are in the beginning of the S curve and it will stabilize just like all other disruptive technology does. This volatility thing that seems to be biting you folks is because Bitcoin is at Billion capitalisation today. What scared me away was basically the energy costs of mining, and knowing that, even if cryptos became huge, there was no reason Bitcoin in particular would have have any value in excess of the electricity that I spent to get it. Secrecy and hoarding will grow exponentially and the wealth gap will become staggeringly wide. Featured on Meta. Satoshi, while extreme in his views, watched the housing market collapse due to the fraudulent behavior of the banks and the government that backs them. It is an innovation worthy of a Nobel that is being trashed by MMM and his horde of supporters who have no clue how the Internet of Money is going to replace everything we know about Banking and Finance! It is like comparing a human body, that can be trained to demolish a wall using karate, with a wrecking ball.
The Cryptocurrency bubble is really a replay of the past: Currency might be the smallest part of that, in the way that web and streaming video traffic dwarf simple email traffic. But, I have always wondered: Daisy February 15, Remember that there are plenty of people with money in bitcoin or other crypto who are far from complete idiots. No bubble lasts that long and keeps growing exponentially. A stock is not a ticker symbol; it is a stake in an underlying business. The final coin won't be minted until Banks and elites will remain even with Bitcoin, and is it ok to upload my id to coinbase bill gates on bitcoin is unstoppable it goes your way it will probably the miningfarms and people who collect the. Not just stupid, insane. This is exactly what happened in the s: Rather than maximize profits, what about minimizing regrets? What is the US Dollar pegged to? Free January 3,1: Patrick January 3,1:
By using our site, you acknowledge that you have read and understand our Cookie PolicyPrivacy Policyand our Terms of Service. In a world of human trust, putting the wisest and most respected people in a position of Adult Supervision is a useful tactic. Bitcoin has been such a bubble since day one and that was almost 10 years back! Bitcoin is pivx coinmarket pivx gay art nascent technology and will evolve with time. MMM has been writing quality PF content for years. CNNMoney Sponsors. Real investments require production and income. Just think never having to get ripped off for currency exchange…10 years from. It stays below the prior high for decade at least, sometimes forever. You sound like I poop-obsessed wing nut. Power consumption from bitcoin mining would only amount to a fraction of 1 percent of global demand even in When the supply of foolish speculators dries up, the value evaporates — often very quickly. Remember there was social media before Facebook. Everything currently is too expensive. Other potential candidates for this game include, but are not limited to: And there are so many investors who buy Bitcoin without even understanding what Blockchain is…which is just scary. All valuations based hitbtc eth transfer taking forever stox on bittrex gold derivatives paper money are to varying degrees delusional. The stock market over the long run will ALWAYS grow as long as the population and technology and our use of bitcoin more common than other currencies bitcoin how much can you make as humans continues to grow. Gold has always been considered a commodity of high value. Congratulations, it sounds like you gambled and won.
A stock is a share of an actual company, bound by rules and regs however imperfectly administered, at least they exist. Just think never having to get ripped off for currency exchange…10 years from now. That is the right way to think about these things. Something only has value if ppl place a value on it. Dee January 16, , 8: Hot Network Questions. All that the US has done since , is hit the ball further and further down the road while at the same time blowing it more and more with air read Quantitative Easing. I guess its impossible, at least currently, for them to have 16k Supercomputers which are as powerful as the currently top one. I have been to Greece, and would advice you to go to some such place to understand what happens when fiat currencies die. Andreas January 3, , 4: We probably have another few years of stocks going down in terms of gold before they bottom out and a new stock bull market in real terms resumes once again. Keep fighting the good fight, Vijay. Be careful what you wish for. Yeah, I was thinking along these lines when I realized that there is no way I would short bitcoin even if I could too much chance of prices continuing to skyrocket until I was forced to cut my losses. Power consumption from bitcoin mining would only amount to a fraction of 1 percent of global demand even in You made an unsupported claim. The dams generate electricity whether you need it or not. Do you practice illegal tax evasion as your primary wealth strategy? Have you ever taken a look at how correlated the stocks of an index were? Because right now, well over half of all BTC mining power is located within China, and Xi Jinping could fairly easily decide that all of those miners need to work for him.
Dan C January 14, , 4: Bitcoin is actually a saviour that provides the world an opportunity to get out of total mess without fighting a WW3! How much do you have invested in BTC? How can people who are so good about thinking outside the box when it comes to retirement, are so bad at thinking outside the box when it comes to new technologies? Almost everyone will have access to a mobile phone and network in a decade which is when I expect brick and mortar banks to collapse completely! Sounds like a bubble to me. Randy R January 3, , 1: No bubble lasts that long and keeps growing exponentially. After all, you could make the same argument about Mr. It just means that some price levels are reasonable, and some are not. Saving billions from poverty, war, and the enslavement of banks or the lack of any banking is Altruistic. The web. Some people might get crazy rich, but some might just go broke because of Bitcoin. Common arguments against cryptocurrencies are 1 energy consumption, 2 volatility, 3 blockchain is good, Bitcon is bad.