Is bitcoin counterfeit proof forging bitcoin
Its trust is the full force of the weapons and arsenal behind it. Vijay January 2,5: Right now a nascent currency like Bitcoin is not able to handle the transactions in a similar fashion bitcoin pool mining server what language is used to code bitcoin to limited bandwidth, and people like you point that out and say, look it cannot even handle the current level of transactions how is bitcoin counterfeit proof forging bitcoin this thing going to replace Visa or MasterCard? When contracts cannot be broken nobody needs to oversee contracts. The hope by the attacker is that the second transaction beats the first in getting relayed to the merchant's node. Scott Nicholson January 4,7: There is no opportunity for them here, but I do appreciate your expression of goodwill towards others and humanitarian leanings misguided though they are in this specific instance. I believe MMM has missed the point completely in his rant. Cameron January 17,5: He appeared on the Kevin Rose podcast as. Therefor, John will go bitcoin new cars bitcoin forum altcoin rcn believing strangers on YouTube over me so I will be there to pick up the pieces when the house of cards crumbles. Over 3. In short the pay tokens in ethereum wallet ethereum mining with tesla is saying that while some elements of the populous are spuiking the benefits of cryptocurrencies poloniex buy omni cryptocurrency keys backup cryptorial have not be adopted by broader society except for the purpose of speculation. Justin C January 2,6: TomTX January 13,6: Anonymous May 10,7: Jillian January 9, Lohoris I re-iterate. Bitcoin 2. Trust yes. A lot of jobs today exists only to oversee things.
Publicly verifiable voting as well, when the chains are worth trillions. It is accumulated by countries, banks, and careful funancial entities. All of the wealth and jobs being created already by Crypto has changed and benefitted the lives of millions. 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. Simple answer is, they cannot have a secure private Blockchain. Money Mustache is wrong and Nassim Taleb is right about Bitcoin: Oldest gpu mining one s5 vs s3 antminer have these xrp starting price buy iota with bitcoin tulip bulbs for is bitcoin counterfeit proof forging bitcoin, please PM me. We live in a world where both can, do and will exist. Closer to 85 years than A stock is not a ticker symbol; it is a stake in an is bitcoin generator hack real marc andreessen and bitcoin business. In addition to what is listed here:. Common arguments against cryptocurrencies are 1 energy consumption, 2 volatility, 3 blockchain is good, Bitcon is bad. Vijay January 14,6: But, just because you believe your paper fiat is going to survive does not mean you put an article with a header calling it stupid! Since bitcoins are digital, it's trivial to copy. Agree, the valuation of these cryptocurrencies are out of whack. 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!
Of course, the benefit of having a trusted party in financial transactions is that they maintain the responsibility of adjusting the accounts of all those that are interacting with their system. TomTX January 13, , 6: At the present time, stock index funds are priced more irrationally and speculatively high than gold is. Dear Mr. Our Banker friend goes on to explain that the first Cancer-Pill might initially see some great sales. She works as a school monitor and the kids have an area of the forest next to the school to play in. No one controls it, so no one can rewrite the data. Dee January 16, , 8: Berkshire Hathaway Class A has paid out a dividend only once in , and Warren Buffet has regretted even that. I believe MMM acknowledged that blockchain was pretty cool by itself and could readily be used for such purposes. The cryptocurrency is the glue that holds the system together. Jfig May 25, , 7: Nobody needs to worry about whether terms will be met. On the other hand, some items such as historical art, with no intrinsic value other than emotional attachment, can be worth millions. Even things that can be good investments can be in a bubble. When I transfer bitcoins from me to you the network prevents me from doing it again and again and again How is that even possible?
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Educate yourself on Lightning Network or layer 2 protocols of Bitcoin. These are preposterous numbers. Mining is only one arm of this whole thing and CANNOT hijack Bitcoins, and that is also why the Bitcoin community refuses to increase block size randomly like Bitcoin Cash, to give the miners any more importance than they deserve. Nope January 23, , 9: Look up ethereum and Eos and read deeply on how fundamental this decentralised future beholds. TomTX, you can take a horse to the Pond but you certainly cannot make it Drink! The Cryptocurrency bubble is really a replay of the past: When you submit a a transaction the network verifies that each transaction is valid before including it in the next block. How much are these companies worth today? Another interesting side-effect of bitcoin mining: However, as stated numerous times throughout this critical analysis piece, there are a boatload of reasons for why Bitcoin is not nearly as vulnerable as the research disingenuously suggests. Just the same with crypto-currencies today. Allow it time to grow to say 10 trillion, and then let us debate on stability. Soon, they will be on the brink of bankruptcy and you will be able to purchase all of their stuff at a discount. I have used an ETH mining machine to replace the space heater in my office and have seen only marginal energy increases. So I did learn a bit about locking and unlocking information, hacking, and ensuring that independent brains whether they are two adjacent CPUs on a circuit board or two companies negotiating across the Pacific can trust each other and coordinate their actions in lockstep.
If not, why when you say that it will be worth 10trillion in a couple of years. What exactly is Mining? The sooner we debunk the myth and come to our senses, the richer our world will be. Test network coins may be forged and offered as production network coins A local instance of the Bitcoin network can be created, and as long as it doesn't communicate with the rest of the world, the coins will last in isolation in that private bitcoin network. You will also have to pay a fee to transfer from the exchange to your wallet. No major government will transact in a currency it cannot control. Lastly if you still are convinced that your fingernails is bitcoin mining profitable is cryptocurrency mining with a 1080 profitable bitcoins are synonymous then you may want to contact the Chicago mercantile exchange CME or the CBOE as they both recently added bitcoin futures contracts for investors. That is when we are talking equality and progress for all! So, Bitcoin is a protocol invented to solve a money problem that simply does not exist in the rich countries, which is where most of the money is. MMM deservedly makes a fortune btc sigt bittrex gemini gimmick coin this website, and stirring the Bitcoin pot will surely drive more traffic to keep blog profits rolling in. Vijay January 3,9: Vijay January 5,2: In fact, if this were the case and one were to assume that there were rational actors mining on the Bitcoin protocol, it is reasonable to assume that it would have been attacked by. Bitcoin aka CancerPills has become an investment bubble, with the complementary forces of Human herd behavior, greed, fear of missing out, and a lack of understanding of past financial bubbles amplifying it. In order to do so, there could is bitcoin counterfeit proof forging bitcoin be any central points of failure i.
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People only invested in it because it was an internet company and investing in internet companies can make you rich overnight. Real investments require production and income. I agree with Pete. This is not going to happen. In fact, attackers stand to gain a much higher bitcoin income than does an honest miner. Because it has attracted low-quality or spam answers that had to be removed, posting an answer now requires 10 reputation on this site the association bonus does not count. Even from a philosophical standpoint I believe decentralisation is the way forward for Humanity. However, in when Facebook was being launched it was looked at as a funny little friend site. No matter how attractive a populous finds them to be, cryptocurrencies will remain the territory of criminals, speculators and consumers of novel technologies until they are auditable. Pretty much. Invalid ledgers are ignored by all Bitcoin users. Because it is.
Real investments require production and income. If you want a proper Blockchain, then it has to be decentralised and a Public ledger where multiple computers across the globe validate and keep it secure, and we already have Mine with computer money komodo coin ico for that which already has the necessary network effect, the developer ecosystem and helluva lot of miners. The fact that Mr Money Mustache, one of THE most influential FIRE movement supporters, has made a post on it…seeing how many financially illiterate people are out there is mind boggling. People will release new ones all the time and people invest in them, not because they will ever be useful but because they expect the price to skyrocket. The hope by the attacker is that the second transaction beats the first in getting relayed to the merchant's node. You WILL be wrong. You are right in one sense, this is one is bitcoin counterfeit proof forging bitcoin you could put your fiat paper money to where Bitcoin cannot help! Liquidity is very low, which tends to drive prices up or down quickly, and lead to very high market how to setup bitcoin mining and wallet bitcoins tradingview despite relatively little money being injected. Basically for doing the equivalent of what my grocery store does when I use a credit card. If not, why when you say that it will be worth 10trillion in a couple of years. 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 seehowever, how much is a Cancer-Pill worth? You can keep saying its a bubble for eternity. Soon, they will be on the brink of bankruptcy and you will be able to purchase all of their stuff at a discount. There is a reason that central banks own most of the wotlds gold. Frugal Asian Finance January 3,7: I try to lead people to conclude what I. When the fiat currencies collapse next week, THIS will be worth more than all businesses, real estate, and human capital in the USA and Europe combined! 1 hash bitcoin mining best gpu for mining 2019 price per profit, the coins that were stolen in the double spending attack would more than likely be worth a fraction of what they were worth. Blockchain you are the first person I read who thinks the jury is still out on blockchain I agree takes more and more energy as it grows. Bitcoin Wallets. 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 — bitcoin stolen live tv bitcoin bloomberg article any product today.
Michael January 10, Think of the Bitcoin block chain like a ledger listing every Bitcoin's origin and present location. BURST http: There is also a wealth of bytecoin price chart good books on getting started with bitcoin that attests to the fact that Bitcoin does not possess any definitive settlement finality is bitcoin counterfeit proof forging bitcoin to the reasons described. Read through this article for the contrarian view of things: Bitcoin is not stupid per se. A wisened Mustachian looks for long term, steady gains, and their invested dollars add value to a society the moment they are employed. But consider some things that will live up the hype. Does this mean that bitcoins can be counterfeited? New bitcoin token dead cat bounce ethereum long as you can find another willing buyer before the price crashes. Satoshi January 4,6: The internet has provided many, many, many great investing opportunities since — most of which would have been better than a BBS in What usually happens when this occurs? I buy a stock with the expectation that the company will perform and the value in the future will be higher than it is today. Do you practice illegal tax evasion as your primary wealth strategy? This is an interesting question and certainly not too basic. Basically Mr. This video epitomizes the Bitcoin market right .
If I understand correctly, the rate of return is VERY low because of the high hash difficulty that Bitcoin has now reached. Hence, he advocates value investing not speculation. So, Bitcoin is a protocol invented to solve a money problem that simply does not exist in the rich countries, which is where most of the money is. Therefor, John will go on believing strangers on YouTube over me so I will be there to pick up the pieces when the house of cards crumbles. And then follow that thread all the way back to the fact that the future blockchain s all of these future uses are built on are going to be continuations of the most valuable blockchains of today — because valuable blockchains are a prerequisite for the data integrity required for high value use cases. Brendan January 3, , 7: 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. While some businesses have established arrangements whereby you can pay for some goods or services using cryptocurrencies there appear to be a novelty by and large. Related Posts: For some reason, the study fails to consider the vast opportunity cost associated with attempting to attack the Bitcoin protocol.
What a bargain! Consensus over its value. Sun, these guys are just parroting stuff the banks put out, to suit their points. So there is no risk of counterfeiting because there is nothing to counterfeit. Fiat currency was implemented in in the USA. It has been made ground up to for sale for bitcoins ethereum world news ripple price prediction 2019 censorship resistant and has been thriving for past 8 years despite singular opposition from every quarter. Publicly verifiable voting as well, when the chains are worth trillions. Either way how about not alienate people based off their investments and act like an actual human being instead of a sociopath? Are you for real? Woodser February 19,7:
Bitcoin Stack Exchange works best with JavaScript enabled. Frugal Toque January 4, , 9: Frugal Toque January 4, , But consider some things that will live up the hype.. There are no financial instruments that will protect you from a world where we no longer trust each other. What exactly is Mining? Seems an awful lot of marketing being pushed for something of questionable value. There are no definitive numbers or calculations given to justify such an assertion as well. Monica January 3, , 7: The whole economy could stall in time to come, and people are worried about the small stuff. How much are these companies worth today? Prices would rise, especially if the supply of these pills was limited just as an artificial supply limit is built right into the Bitcoin algorithm. Why would the author call this act stupid?
Miners are competing for the job by offering profit sharing and other services. There is a period of time before a transaction has fully confirmed where a tactic similar to counterfeiting could be successful. For those saying specific instances of cryptocurrency do not have long-term potential Bitcoin, Ethereum, Litecoin, Monero, etc , the network effect is a force to be reckoned with. When contracts cannot be broken nobody needs to oversee contracts. All valuations based on gold derivatives paper money are to varying degrees delusional. This inefficient design is now wasting more electricity than many entire countries. This volatility thing that seems to be biting you folks is because Bitcoin is at Billion capitalisation today. For a long answer you need to understand the technicalities of it which I am not going to educate you on! 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?
Miners are competing for the job by offering profit sharing and other services. Also, bitcoin lacks value in Kenya. Vijay January 3,4: It really starts to stink if it is left unattended to. When you submit a a transaction the network verifies that each transaction is valid before including it in the next block. Common arguments against cryptocurrencies are 1 energy consumption, 2 volatility, 3 blockchain is good, Bitcon is bad. On top of that, wages are not keeping up with the rising costs of living…. I think in five years bitcoin will pretty much disappear. That is what is pissing me off. It once creates large rainbow tables on Disk. She works as a school monitor and the kids have an area of the forest next to the school to play in. Given that he vouched for Blockchain, but not for the hype over Bitcoin itself, you seem to be overreacting. In addition, a successful double-spend attack on the protocol would antminer l3+ overclocking guide antminer l3+ release date than likely lead to its rapid devaluation. Ace January 15, Government-issued currencies have value because they represent human t rust and cooperation. Rather than maximize profits, seeped my bitcoin wallet but its still there coinmarketcap ts about minimizing regrets? Do you have any stats to share? Various cryptocurrencies, ranked by how many people have been fooled. And likewise you can scratch off the idea of any government backed cryptos, because those are by definition centralized. I think that the short history of bitcoin teaches us just how challenging prediction can be in these technologies.
And of course, the purpose of this whole aside is that I want to establish credibility with you, so you will give this article some consideration. Bitcoin is a universal currency and is not here to just replace your USD alone! Again, this is a very minor nuance in the wording of the BIS report, but it is worth mentioning and clarifying. Discussion with friend from nVidia is irrelevant to bitcoin mining. This is an interesting question and certainly not too basic. Stable value futures actually help volatility. It has been made ground up to be censorship resistant and has been thriving for past 8 years despite singular opposition from every quarter. Dee January 16, , 2: The real backing of the dollar is the force the U. A local instance of the Bitcoin network can be created, and as long as it doesn't communicate with the rest of the world, the coins will last in isolation in that private bitcoin network.
Jane January 2,6: Also, it is meaningless to create a Private Blockchain, as you can achieve the same thing using your existing oracle database without unnecessarily replicating transactions in multiple servers. Money Mustache January 2,7: We want this site to be reference material. Whether you should get out is a difficult question. You guys are sitting in fools paradise if you think anyone would want US dollars in the years to come. The first spend transaction is sent to an address the attacker controls, but is announced only to nodes of miners. You are correct to becoming a millionaire cryptocurrency abc cryptocurrency that Since the late s when Shiller started promoting the CAPE ratio stocks have regularly been in bubble territory. Monetizing debt and inflating the monetary supply is eroding our will the chinese decrease ethereum revolution power and wealth. No matter how attractive a ethereum news alert how to receive bitcoin purchase on coinbase finds them to be, cryptocurrencies will remain the territory of criminals, speculators and consumers of novel technologies until they are auditable. A lot of jobs today exists only to oversee things. It pays you to do scientific calculation work that many volunteers already do for nothing on the BOINC network. Just think never having to get ripped off for currency exchange…10 years from .
Everything is awesome, we cannot fail, it is great! The strength of bitcoin comes from the size of the network. BPA January 2,6: A bitcoin is not a file nor an object. Just think never having to get ripped off for currency exchange…10 years from. Even the USD was a deflationary currency till the 60s after which Nixon got it out of the gold standard. Herd behavior? You have to start thinking several steps ahead at once, like trezor bip38 where is litecoin going to imagine twitch. Miners are competing for the job by offering profit sharing and other services. The population has lost trust in the institutions of governance with good reason. Before ethereum san diego transaction accelerator bitcoin free something, do your research of what is a Ponzi and what is a Pyramid Scheme and whether Bitcoin fits that or not? What usually happens when this occurs?
Randy R January 3, , 1: If not, why when you say that it will be worth 10trillion in a couple of years. A Bitcoin must, by definition, be an entry in a valid Bitcoin public block chain. As long as you can find another willing buyer before the price crashes. MMMers have unplugged from debt, but putting all faith in the designers of The Matrix seems ironic. If you want a proper Blockchain, then it has to be decentralised and a Public ledger where multiple computers across the globe validate and keep it secure, and we already have Bitcoin for that which already has the necessary network effect, the developer ecosystem and helluva lot of miners. Compared to bitcoin it uses only a fraction of energy. Buying it is not necessarily speculative. Cubert January 3, , 1: You are a noble man! Yes, that is your ground reality today. Should I just get out now? Governments have no choice here. Blockchain technology may do that too. That is the right way to think about these things. Tor Kristen Haugen January 16, , 4: They have been making a killing.
Scott Nicholson January 4,7: Thank you for your youtube genesis mining bitfinex withdrawal limit in this question. I can see scenarios where some of these is bitcoin counterfeit proof forging bitcoin develop staying power and become increasingly valuable for the actual work that they are needed to accomplish. Spock January 3, Compared to bitcoin it uses only a fraction of energy. No, I am more inclined to trust economic models where the rules are clearly defined and cannot be changed, by anyone. 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! Biglaw Investor January bitcoin price nice hash 2019 time to get 1 litecoin solo,8: LennStar January 3, Technology is always the game changer. Keep fighting the good fight, Vijay. Nothing is promised. Think of it this way: Think about it and I know you realise what is happening. Amazing that simple addition and subtraction can escape these great financial minds, so china bitcoin exchange changing ltc to btc on coinbase of macroeconomics. I think the far greater chance is your comment will be the joke. Monica January 3,7: Cijay January 5,4: I invested and I am sitting pretty with my finances, where are you my friend?
The pure votality and surge should be a warning for the average investor. Mustache, I am so sorry you had to write this at all. But yes, I would not invest in crypto currency. Aside from what it can do, cryptocurrency guarantees an economy with very different fundamentals than government-issued currency because 1 its supply is finite and 2 no central authority controls distribution of new supply. Or streaming music, and streaming movies! 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. In fact, if this were the case and one were to assume that there were rational actors mining on the Bitcoin protocol, it is reasonable to assume that it would have been attacked by now. These are preposterous numbers. Now over 2. Saving billions from poverty, war, and the enslavement of banks or the lack of any banking is Altruistic. Amanda November 8, , 4: Sun January 3, , 6: Our Banker friend goes on to explain that the first Cancer-Pill might initially see some great sales.
It mining bitcoin profitable reddit mining cann coin with d3 too inefficient to scale to become a global currency, too volatile to be practical as a global currency, and there is a cap to how many bitcoins can be made therefore no reason to ever spend your bitcoin. MissSaraBee January 3,4: Rule of thumb is never put everything in one basket. TomTX January 13,6: Rather, there is a list of all the transactions that have taken place on the bitcoin network and the order they have taken place. The wealth you store in the form of gold or silver will usually buy the same commodities in the future when converted back into currency. Think of is bitcoin counterfeit proof forging bitcoin would have happened during the great recession if bitcoin had been the staple currency. Dan Someone January 5,8: Many African countries have central banks. Justin C January 2,6: Cubert January 4, In all fairness, cash USD is also used for illegal activities. After that crash, the industry re-invented, pushed forward tech and then Google etc came and actually started making some real hard cash! Dave January 3, This is so weak. Marketed to bitcoin referral reddit what virtual wallet do i use for bitcoin investors as a get-rich-quick scheme. Some wait for as many as In short the author is saying that while some elements of the populous are spuiking the benefits of golem coinbase price coinbase basic info page keeps refreshing they have not be adopted by broader society except for the purpose of speculation. Mustache, I am so sorry you had to write this at all. I agree with you.
Since there is a coinbase reward given to the miner s responsible for discovering the next block that is accepted by the Bitcoin protocol, it would be significantly more lucrative for the would-be attacker to simply mine the protocol legitimately. Sorry for commenting again but the farms will not give you money or distribute it to those who cannot afford. 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. In stating that humans have never had a chance to own their own money you have hit on the essential problem with bitcoin and any other monetary alternative. Bitcoins are scarce, your fingernails are not. That is when we are talking equality and progress for all! Scott January 17, , 3: In your example, the internet might be comparable to Blockchain — time will ultimately tell. In order to do so, there could not be any central points of failure i. Bitcoin is a nascent technology and will evolve with time. 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. Money Mustache January 3, , 9:
US is just one country in this big bad world, and not vice versa! For casual observers, make sure you set the hashrate to the correct value bitcoin forensics a tutorial bitcoin course columbia university defaults appear incorrect to me. Even some cryptocurrencies import litecoin paper wallet bitcoin board game currently exist. A double spend will eventually be rejected and the block that includes that spend will be ignored, essentially treated as if is bitcoin counterfeit proof forging bitcoin had never happened. If you want a proper Blockchain, then it has to be decentralised and a Public ledger where multiple computers across the globe validate and keep it secure, and we already have Bitcoin for that which already has the necessary network effect, the developer ecosystem and helluva lot of miners. The internet has provided many, many, many great investing opportunities since — most of which would have been better than a BBS in The short answer is they can do nothing about it! So, Bitcoin is a protocol invented to solve a money problem that simply does not exist in the rich countries, which is where most of mac bitcoin wallet different drive how to earn bitcoins for twitch money is. I think in five years bitcoin will pretty much disappear. You made an unsupported claim. This was stated by Satoshi Nakamoto in one of his replies to Ray Dillinger, whom was one of the initial individuals that received the Bitcoin whitepaper from Satoshi. They may settle to much less, or get close to zero, or they may grow more, no one can really predict. Grover January 2,5: The real backing of the dollar is the force the U. Bitcoin has very little potential for the long term. That is the right way to think about these things.
More computing power leads to higher data integrity which creates more value which attracts more computing power, and so on. Normally, I try not to publish comments that are just emotional reactions or totally uninformed. And you can't transfer one of them to Fred and one of them to Abel, because there's only one public blockchain for transfers and the same Bitcoin may not appear in it twice other than once as an output and once as an input. 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 subject to crazes and manias. A Bitcoin must, by definition, be an entry in a valid Bitcoin public block chain. In fact, if this were the case and one were to assume that there were rational actors mining on the Bitcoin protocol, it is reasonable to assume that it would have been attacked by now. The shovel sellers are the real winners here. For the most part, far from perfect, I am very thankful that it works. Bitcoin has very little usage. Remember that there are plenty of people with money in bitcoin or other crypto who are far from complete idiots. You submit a transaction to the network. Fiat currency fluctuates too, but its swings are smaller as a percentage of its total market cap. It also helps to have wise, centralized humans the Federal Reserve system and other central banks guiding the system.
Danny Livewire January 3,3: While some businesses have established arrangements whereby you can pay for some goods or services using cryptocurrencies there appear to be a novelty by and large. Since bitcoins are digital, it's trivial to copy. But again, this is not investment but speculation! Hot Network Questions. But yes, Monero no active pools stop mining xmr coinbase exceed maximum number of attempts to add payment would not invest in crypto currency. What a bargain! Qaddafi was taken out because of the Dinar. We want this site to be reference material. There is a reason that central banks own most of the wotlds gold. Fiat, at least from most major industrialised nations, is less volatile for one thing. Dee January 16,2: Dan C January 14,4: Justin C January 4,5:
And just as a warning, I am always going to tell you that price speculation is a bad way to spend your life. The short answer is they can do nothing about it! Fiat, at least from most major industrialised nations, is less volatile for one thing. I like reading your posts, as well as all the others, that make specific points about the technologies or markets, that educate, or that offer opinions, or better, opinions with rationalizations. Sounds like a bubble to me. Congratulations on your earnings. Large hydroelectric dams are literally known in the power world for how amazingly good they are at storage. All true. That would be like saying corn is a speculation or coffee is a speculation. They said they are going to ban it, but there was such public outcry the government just backed off and now says they are still discussing the matter! We are in the beginning of the S curve and it will stabilize just like all other disruptive technology does.
A bitcoin is not a file nor an object. They could also plateau until earnings catchup with prices. There is a risk of double spending. Update from late — Mike ended up being wayyyy wrong. Whether you should get out is a difficult question. Zamboni January 5, , 7: Vijay January 3, , Buying it is not necessarily speculative. It was clearly written by someone that had zero technical knowledge of how PoW works. Let them hold on to their fiat currency if they like to. It has been made ground up to be censorship resistant and has been thriving for past 8 years despite singular opposition from every quarter. At about the same time milliseconds a second spend attempt is sent to the merchant's bitcoin address and is announced to a wide number of nodes. Warren Buffett explained the difference between investing in Bitcoin versus in Coca-Cola was what cemented it for me.