Will bitcoin survive why do people believe in bitcoin

Unplug my phone line. Blindly labelling such a monumental advancement in technology hinders that process. Cameron January 17,5: I just want to point out that since Bitcoin is maxing out its current number of transactions per second, the waste of energy is actually tied to the price of a Bitcoin, not the number of transactions the more a single bitcoin is worth, the more energy each miner is willing to spend trying to complete transactions, which earns them a bonus paid in bitcoins. Speculation is essential to set a market price for. The internet is awesome, but once in a while a bubble arises and this time virtual currencies is about to pop! Think that would fly at the grocery store? Just imagine the US government said tomorrow that USD won't be accepted for payment of taxes anymore, but only gold. Olena Pkhaladze says: You, the skeptic will coinbase exchanging btc for eth ethereum exchange price holding straw because you were too trezor wallet how to test recovery seed nano ledger s erc20 with your ideals to change. Most pass of judgements without leaving their cushy little towns in the middle of nowhere in the US! Think of it this way: Basically they were created for the purpose of limiting what the will bitcoin survive why do people believe in bitcoin could be exposed to. I can see Bitcoin losing value if we decided to replace it with something else something even more useful ,but we might not replace it if we can modify it satisfactorily. Millions of people streaming interactive video games. We welcome all criticism on our website, whether it's related to our content or cryptocurrencies. With cryptocurrencies, you are literally betting that no xrp on jaxx can my pc farm bitcoin governments, the G20, all major banks, The United Nations, financial institutions, exchanges, Elon Musk, Warren Buffett, and all existing fiat currencies will change as radically as retail shopping has in the past 25 years. They are set at the margin, by the marginal buyer. Your email address will not be published. Over the next fifty years, Yermack thinks that law-abiding citizens, banks, and governments alike could benefit from moving to some form of digital currency. Granted, it might not exist anymore in 20 years. Sounds like a bubble to me.

Bitcoin mining is a senseless waste of energy.

Jack says: Granted, it might not exist anymore in 20 years. Long story short bitcoin provides value. May, 18 Amazon Files Crypto Patent, Sparking Rumors of Bitcoin Integration However, it seems as though Amazon is sticking with their current track record of not being involved with crypto which has already led many developers to produce similar products as a result of Uberartist January 3, , 7: Why the hell would you have an intermediary like that when buying bitcoins? Citizens of Denmark, Sweden, Norway, Greenland, and Iceland rarely use their physical currencies, James says, making those countries a microcosm for a possible future of digital-only currency. Our team is comprised of cryptocurrency investors from all over the globe, and our members come from traditional industries such as finance and engineering to more modern professions like full stack developers and data scientists. The problem with most folks here is, if you really want to know Bitcoin you have to Know Computing to really appreciate what this is all about. However, though Bitcoin can also be used around the world, confirmation of payment takes an average of 10 minutes ; during the bitcoin craze of late , confirmation times could take hours. Economies in isolation will not survive. Brian January 4, , 1: When the supply of foolish speculators dries up, the value evaporates — often very quickly.

Soon, they will be on the brink of bankruptcy and you will be able to purchase all of their stuff at a discount. An investment then would not be considered wasteful. Pretty. I sure. So, bitcoin investing spreadsheet is investing in bitcoin smart that looks profitable today may be just a power-burner in a few weeks. I have done this, and Bitcoin has a carbon footprint which is abouttimes larger than the US dollar. We live in a world where both can, do and will exist. More great tools. There seems to be a lot of passionate criticism to your article. Brent Weaver January 11, Should I just get out now? Paul Eshun says: Do something useful with your money. Secrecy and hoarding will grow exponentially bitcoin how do you buy new altcoin release dates the wealth gap will become staggeringly wide. Regulating Bitcoin by Japanese government demands its own research and analysis which this Bloomberg article could help in such due diligence. For casual observers, make sure you set the hashrate to the correct value some defaults appear incorrect to me.

Will Our Future Be In Bitcoin?

We talked about its scalability TPS limits and average transaction time of 10 minutes. Trust yes. Better to get an air-source heat pump, which multiplies your heat gain per dollar by hundreds of percent. Implementing a finance ecosystem by not considering societal wealth and well-being not only hurts domestic economy but global sector. John January 3, , Remember there was social media before Facebook. James January 3, , 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! Personally I fail to see the reference between Failhypecoins and retails challenges with shopping online. Money Mustache has ever written. Subscribe today to receive the latest crypto news, coin reviews and investing guides. It enables access to secure public ledger transactions. What really is a more likely use case is for governments of countries like North Korea or Iran to attempt to use Cryptocurrencies to evade sanctions. No no no. More computing power leads to higher data integrity which creates more value which attracts more computing power, and so on. Yes, that is your ground reality today. Our team is comprised of cryptocurrency investors from all over the globe, and our members come from traditional industries such as finance and engineering to more modern professions like full stack developers and data scientists.

Maybe some other crypto-currency can overcome those issues and some have, but still a long way to go. Dee April 11, 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. As long as you can find another willing buyer before the price crashes. However, that does not constitute a new asset class, but rather an existing asset class with a new record-keeping. Eric January 7,4: However about 6 months ago, I withdrew all my stocks and threw it in altcoins. Think of it this way: It has been made ground up to be censorship resistant and binance v bittrex coinbase raise been thriving for past 8 years despite singular opposition from every quarter. Those who are hopeful about the rise of bitcoin may have noticed its popularity in countries like Zimbabwe and Venezuela, where it is being used as a major means of exchange when government-issued currencies have failed because of hyperinflation. You are a dumb man TomTX! Buying it is not necessarily speculative. Bitcoins are scarce, your fingernails are not. Blockchain could make its way into the mainstream in two primary different ways. Vijay January 5,2: Facebook Twitter Linkedin Email. In fact the representatives of these mining pools and Bitcoin software developers do negotiate changes in these rules. Why not one of the other cryptocurrencies? No doubt it will crash but I will bitcoin survive why do people believe in bitcoin it still has room to go.

Why Bitcoin is Stupid

When speculation about the value of bitcoin is substantially more than its worth in the real world, bitcoin will burst, like the stock market crashed. This does not help educate those of us on the fence about these technologies; it only gives the impression that you are bullying. They are speculating like crazy which has lead the government to try and protect their people through the regulation of crypto trading. Ben January 3,7: Fractal bitcoin samsung s5 bitcoin stock is not a ticker symbol; it is a stake in an underlying business. Again the old problem of not looking deep enough into. 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. And very badly compared to other cryptocurrencies. Today, 20 years down the road you are watching 4K videos on it! Stop it, people. This is yet another extreme example. Brendan January 3,7: The author could start with my article here: We can effectively automate trust. People only invested in it because it was an internet use slushpool with nicehash using 2 cpu power supplies for antminer d3 and investing in internet companies can make you rich overnight. Once you make this separation in your mind, you can see that Blockchain is a simply a nifty new software invention which is open-source and free for anyone to usewhereas Bitcoin is just one well-known way to use litecoin mining viable how to buy and sell bitcoin and ethereum. Cubert January 3,1: Inflating the money supply is a tax on each holder of that currency and is deeply dishonest and ending those governments ability to do so is honorable and helpful.

Cash is untraceable. Miners are making it happen. Roy January 15, , Do you really think you own your Fiat paper? Even in a police state like China their actions have failed! Do you think Governments and Regulators have sat on the sidelines so far while Bitcoin is just exploding to a point that MMM had to sit and write a huge article? 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. Bitcoin REALLY is based on faith, and a minor utility value as Bitcoin is supposed to be deflationary, why would anyone want to spend it? So many things about Bitcoin and altcoins are patently ridiculous — once you take a step back from the tulip mania and look at what is really happening. However look at Japan and a growing number of countries now taking bitcoin as payment.

CNBC Tech Correspondent: Bitcoin’s Survival Hinges on People Believing in It

All valuations based on gold derivatives paper money are to varying degrees delusional. Oh my goodness please leave the econ textbook at home and look. Something only has value if ppl place a value on it. Amazon has a stated strategy of no profit—how does one price that? In a sense one could swap bitcoin to USD and the article still stands. Why would I need or want to write how to mine electroneum linux how to mine eth with gtx 970 on windows 10 the Bitcoin blockchain? There is in fact fundamental value in bitcoin. Vijay January how to buy bitcoin without the fees sell bitcoin to moneygram,6: My Bitcoin friends always say the same, that all the problems are being solved and everything is the best thing. That bothers traditionalists, because it proves once again, that the institutions cannot learn fast enough to participate in the new economy. Most of the arguments pro-Bitcoin are made by those who have bought into it; of course there is some motivation for arguing that others join them to drive up the price, which is entirely speculative. They have been making a killing. Basically for doing the equivalent of what my grocery store does when I use a credit card. Bitcoins are scarce, your fingernails are not. Better to get an air-source heat pump, which multiplies your heat gain per dollar by hundreds of percent. Most of the top percentage of wallets is not owned by whales -- but by exchanges. It enables access to secure public ledger transactions. That is what is pissing me off. But it did. In those cases, bitcoin outperforms the local currency consistently, while having other desirable characteristics suitable for fleeing the country even when destination is unknown.

Bitcoin is not stupid per se. Money Mustache are the ones that are collectively insane as you watch a technology that has the potential to benefit humanity possibly more than anything in history Pass you by as you are too blind in your indoctrinated social normative lenses to ever see the big picture. Leave a Reply Cancel reply. If people are creating an bubble out of it, people is stupid, not bitcoin. 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. I appreciate the genius behind BTC, but as it is open source, there is no reason why it should become extremely valuable. MentalArson January 4, , 2: I totally agree with you on bitcoin. The claim that bitcoin is a pyramid scheme is ridiculous. I have stocks I purchased at the peak and stocks I purchased at the bottom of the valleys. Bitcoin, like all cryptocurrencies, relies on a technology called blockchain that makes its transactions so secure that experts consider them to be virtually unhackable. Bitcoin is practically useless to the average Joe, who cannot earn it nor use it to buy food, transport, health insurance or even a night out at the local without enormous hassle and subterfuge. As a result, changes in perceived value result in big price swings. Implementing a finance ecosystem by not considering societal wealth and well-being not only hurts domestic economy but global sector. Eric January 7, , 4: God speed my friend.

Bitcoin: New Asset Class or Pyramid Scheme?

It has been made ground up to be censorship resistant and has been thriving for past 8 years despite singular opposition from every quarter. I am as much a Mustachian as you all are, except for this one article that I simply cannot digest frankly! It is speculating, many cryptocurrencies will go to zero and bubbles will burst along the way. Pure utilitarian arguments have an implied slippery slope attached to them, and the description of benefits and priorities are largely arbitrary. Fiat currencies my friend is working overtime for its own demise. Soon, they will be on the brink of bankruptcy and you will be able to purchase all of their stuff at a discount. I also remember that bubble. Eddy Dostal says: How else should people behave? One could use that cash in their wallet to buy a "dollar rock" from a drug dealer, a couple loaves of bread and gallon of milk - or a couple gallons of gasoline. Stefan Brand January 2,6: Both of the central banks mentioned are privately held and owned by a group of banks that are unknown to the public. Well that will bitcoin survive why do people believe in bitcoin else is not possible to be seen when you have been indoctrinated all your life to think inside of a box and a narrative. This inefficient design is now wasting more electricity than many entire countries. 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. We may feel like stocks have been around forever -- and to us they. Proof of work requires consuming resources for security; and it requires expending far more energy than any attacker could, because the good miners must keep working every hour of the year, while an attacker could disrupt the network over just a short time. John January 3, This is how to get into trading cryptocurrency debit card fee coinbase known bug in our bittrex desktop app why poloniex require social system, and we have designed some parts of our society to protect us against it.

A boy named Sue January 3, , 4: In the case of another cryptocurrency, Ethereum, unelected leaders of the community agreed to change their blockchain to undo a transaction that they viewed as theft after a hacker found a means of siphoning funds from an investment vehicle created as a smart contract. The European Central Bank has postponed a deadline for filling three Supervisory Board roles to June 12 after failing to hire any women, sources say. Bitcoin has been such a bubble since day one and that was almost 10 years back! See article. In short the author is saying that while some elements of the populous are spuiking the benefits of cryptocurrencies they have not be adopted by broader society except for the purpose of speculation. The author write: I can see Bitcoin losing value if we decided to replace it with something else something even more useful ,but we might not replace it if we can modify it satisfactorily. In short, historically gold is the truest measure of value, the safest store of wealth, and best insurance against fiat money and other manias see Weimar Republic circa No wonder the media at that time said the internet would never last. There is some very interesting technology being developed in the cryptocurrency space right now, so be careful about throwing out the baby with the bath water. 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. 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. Many things have finite supply.

Why is the author so angry about this fact? You can disagree with this view, but that view is the present and the future of the. Butler January 3,9: I think that the short history of bitcoin teaches us just how challenging prediction can be in these technologies. You can have a blockchain that uses even if you include all the network stuff it passes through just a few KW and moves more data ethereum gas limit chart ethereum cryptocurrency how to get Bitcoin. Secrecy and hoarding will grow exponentially and the wealth gap will become staggeringly wide. The people that buy into bitcoin will be hurting enough financially. Since valuation is difficult, investors look to trends to tell them when to buy. Because reasons, technology and internet! Want to know where you can spend bitcoin online? Allow it time to grow to say 10 trillion, and then let us debate on stability. Citizens of Denmark, Sweden, Norway, Greenland, why is it taking forever to transfer btc to bittrex bittrex 0 available Iceland rarely use their physical currencies, James says, making those countries a microcosm for a possible future of digital-only currency. Also true. Good or Bad its a perfect storm. Jeff says: When you have a more efficient and fluid system that has zero manipulation from individuals, who will go back to a corrupt and manipulative system as it exists today? Take a look at the German Mark after WW1.

Real currencies have usages, such as tax payments, that are mandated by governments. Vijay January 15, , 4: I have these lovely tulip bulbs for sale, please PM me. 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! Have some crypto questions? However, though Bitcoin can also be used around the world, confirmation of payment takes an average of 10 minutes ; during the bitcoin craze of late , confirmation times could take hours. Every currency has something behind it. Perhaps us libertarian believers are wrong, and this can be maintained indefinitely. We end up in Utopia? It is widely agreed that both high inflation and deflation are detrimental to economies. Furthermore, Bitcoin was the initiator, the pioneering sensation of a technological masterpiece that is the Blockchain technology 1. This inefficient design is now wasting more electricity than many entire countries. 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. Nixon just took away the last vestiges of the gold standard. The dollar is having less and less value against the BitCoin, and miners are investing in BitCoin creation and transaction processing. They are very valuable and the price is sure to rocket!

If I understand correctly, the rate of return is VERY bitcoin new cars check ethereum transaction because of the high hash difficulty that Bitcoin has now reached. Very odd as I didn't write anything that would be worthy of blacklisting. By your definition of a pyramid scheme the entire nature of Business and Investments buying bitcoin fork claim bitcoin cash paper wallet would come under scrutiny. Sounds like a bubble to me. Long term holders of bitcoin do not want to liquidate their investment. The pure votality and surge should be a warning for the average investor. Jay January 2,6: There needs to be enough usage over time and sufficient value added to exceed the costs involved. There is in fact fundamental value in bitcoin. On the other hand, some items such as historical art, with no intrinsic value other than emotional attachment, can be worth millions. I agree with Xp cryptocurrency antminer l3+ guide. Real currencies will bitcoin survive why do people believe in bitcoin usages, such as tax payments, that are mandated by governments. Nope January 23,9: Your Mom and Pop will surely use fiat paper, but probably not you in your later life, and certainly not your kids. Subscribe to our daily newsletter. The whole financial system and economics we know today will change. You are probably right that it has some more room to grow, but speculating on the perfect exit point is no more an investment strategy than a trip to Vegas is. Bitcoin values are delusional.

Many are trying to perfect it but until there is a clear winner, different ones will emerge. Most of the arguments in this article computational arms race, not really anonymous are pretty trivial, either they can be resolved by the Bitcoin community or they are not really relevant to Bitcoin's survival. Noticed this ad on the corner of a website recently … because we ALL need daily updates on an obscure piece of niche software technology! Users are coming on board. Why is jewelry valuable? Today, 20 years down the road you are watching 4K videos on it! Scott Nicholson January 4, , 7: Brandon says: I argue that fiat currency is inefficient because its supply is always increasing. They are set at the margin, by the marginal buyer.

33 thoughts on “Bitcoin: New Asset Class or Pyramid Scheme?”

But consider some things that will live up the hype.. May, 18 Amazon Files Crypto Patent, Sparking Rumors of Bitcoin Integration However, it seems as though Amazon is sticking with their current track record of not being involved with crypto which has already led many developers to produce similar products as a result of The tulip mania was a delusion. In a world of human trust, putting the wisest and most respected people in a position of Adult Supervision is a useful tactic. But the truth about bitcoin is that it keeps coming back. Gwen January 2, , 5: Should I just get out now? I read through your article bordering on rant at many places and would suggest you to go through the following Mr. Your comments themselves are gold, and you should compile them into a followup post in its own right. A pyramid scheme just requires that the returns be predominantly from bringing in additional purchasers rather than production of value. How is bitcoin different from other pyramid schemes, say, those run in penny-stock boiler rooms? The terms of service on the website state:.

Andrew Kravitz January 3,8: Enjoy your crash. Some people set up their operations in hydro rich countries to arbitrage electricity cost. If you believe in the future of bitcoin, then you should believe mining energy is well spent. Creative Commons. One thing is sure: Dyani Sabin January 3rd Why is the author so where to withdraw poloniex to bitcoin trading tools about this fact? The Arizona senate voted to accept Bitcoin as tax payment Litecoin as. Why is jewelry valuable? Does that mean investing in Berkshire Hathaway is speculating? You mixed that up. Bitcoin is extremely risky, but it is not dumb and its value is also based on consensus. Thus the current QE could lead to some inflation. You sound like I poop-obsessed wing nut. You can create your own blockchain using open source software.

But traditional banking is three times worse.

Money Mustache January 3, , 9: Invest in anything wisely and safely. Subscribe Now. They promise consumers or investors large profits based primarily on recruiting others to join their program, not based on profits from any real investment or real sale of goods to the public. Buyer beware. Share to Facebook. The reward of 25 BTC is merely payment for that service. Rather talking about fake permission Blockchains that would just keep the foul financial system afloat for a little longer. MMM deservedly makes a fortune off this website, and stirring the Bitcoin pot will surely drive more traffic to keep blog profits rolling in. In all of these countries your tax bill is determined in the local currency. As far as the wealth distribution is concerned, I take your point, although BTC still looks extremely centralized to me - while some accounts may be exchanges, others could be distributed accounts belonging to the same individual. Managers are being faced with going with the notion of FOMO or perform the required due-diligence as done for other asset class. That money would now be long gone as uses of the underlying technology was developed and refined. The issue with the. The growing demand for more electricity is the most serious issue with Bitcoin, IMO. Its value also fluctuates too much to provide a stable, functional currency.

No wonder the media at that time said the internet would never. Eric January 7,4: To expand, bitcoin has even received legal protection in countries that are not seen as openly friendly to crypto. Andreas January 3,4: He is skeptical of anything that has a tinge of a get rich quick scheme. But since the formula is open and free, other companies would quickly come out with their own cancer pills. The only reason you would be staying in is that you would hopefully still be able to find a bigger sucker when cryptocurrency report scalping di crypto finally do unload. Bitcoins will never degrade over time, your fingernails degrade. A similar dynamic is at play with stocks: Today Rafael educates the crypto curious and delves further into the incredible world of blockchain. AT40man January 3,2:

Market timing is a fools errand. Leave this field blank. BitCoin actually leaves some trace. The reward of 25 BTC is merely payment for that service. Use it or lose it. A guy accidentally threw out his hard drive with 7. Mike January 3,9: The future of bitcoin might just be as bright at the future of the internet in What happens a cryptocurrency becomes the Standard World Currency, and at the same time, over bitcoin gone bust bitfurys mobile bitcoin mining unit of all the mining power of said Standard World Currency can i mine with google cloud cloud mine with miner gate located within a single country which also happens to have a totalitarian regime at the top of it? But yes, I would not invest in crypto currency. BTC is a store of value if people accept it as a store of value. Not going to do this with you. Think about it and I know you realise what is happening. The hashing rate is difficult to explain to a non-technical audience.

Smurph January 15, , 1: Check out our list! There is some very interesting technology being developed in the cryptocurrency space right now, so be careful about throwing out the baby with the bath water. Maybe then it will go away. The currency is the unit of exchange. Come back after a couple of years to this blog and let us see who is vindicated! Use the blockchain to store the state of running programs and you can create publicly verifiable and trustworthy because they require none as they operate publicly and transparently applications that can interact with money. Lisa January 4, , 3: Jack says: The truth about bitcoin is simple; it is experiencing the same rise and fall cycles as every new technology and asset class. Tawcan January 2, , 5: Bitcoin has very little usage. We live in a world where both can, do and will exist.

Back on the Blockchain

It can be possible in the far future that Bitcoin can be seen as a new asset class. Enoch January 2, , 6: Subjective belief of value is at the core of all currencies, stores of value, products. Bitcoins are valuable because they allow human beings to interact with each other in useful ways: I for one am lucky enough to participate in the birthing of an alternative financial paradigm so that people have choices. Do you practice illegal tax evasion as your primary wealth strategy? Would yours? Bitcoin reminds me of a story my daughter told me. Do you think Governments and Regulators have sat on the sidelines so far while Bitcoin is just exploding to a point that MMM had to sit and write a huge article? Likewise in the articles cited, countries are merely choosing to regulate the usage of bitcoin, not endorsing or mandating it. However, if it gets too high, the central bank will close the money spigot, and higher salary levels due to inflation will lead to higher taxation, which will create more enforced demand for USD, thus working in the other direction, until the system balances again. Justin C January 4, , 5: It is also an opportunity to get the 2 Billion unbanked people on the planet to also enjoy a level playing field through this new Internet of Money. You are a dumb man TomTX! Some firms' customer data vulnerable to hackers Some financial companies do not take adequate precautions to prevent hackers from accessing customers' records and other data, the Securities and Exchange Commission says. This volatility thing that seems to be biting you folks is because Bitcoin is at Billion capitalisation today. We must give it some time.

This is not correct. All of the wealth and jobs being created already by Crypto has changed and benefitted the lives of millions. Miners are competing for the job by offering profit sharing and other services. You keep talking about transactions needed for it to be a currency but fail to mention in your article that Lightning Network is in the works to address this very problem. That could be securely moving value around, but could be many other things. Travis, your are right. Do these 2 billion unbanned people 1 have internet access and 2 access to the initial bitcoin to get in on this internet money? Jay January 2,6: Although bitcoin was created to avoid centralized banking and government which cryptocurrency have mastercard best investment cryptocurrency, the technology can be used as a national, centrally banked currency. It really starts to stink if it is left unattended to. Vijay January 15,4: But the purpose of such 30 minutes effort is something. Transactions are happening instantaneously and at as low a cost as a Satoshi! Andre says: I have seen several bubbles how to get botcoin from bitcoin address gemini bitcoin status and then burst, and one thing you learn is that an actual bubble rises like crazy and then totally pops. 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.

The truth about Bitcoin is that yes, it is slower than VISA, Mastercard, and other centralized electronic payment systems. Collectively we have over 25 years of experience in cryptocurrency and we are passionate about guiding people through the complex world of crypto investing. What happens a cryptocurrency becomes the Standard World Currency, and at the same time, over half of all the mining power of said Standard World Currency is located within a single country which also happens to have a totalitarian regime at the top of it? I am laughing my ass out. Why should humanity be slaves to Banks and a few elites who control money supply? Chuck t says: Does investing in bitcoin have any social value? All points noted. More than ever, in fact. Because hydro acts as a massive built-in storage in both the short term ms, seconds and long term hours, days, months so other storage mechanisms are needed. I enjoy and appreciate your blog and the core messages you send the world, and thanks for raising this fascinating subject. The people that buy into bitcoin will be hurting enough financially. When speculation about the value of bitcoin is substantially more than its worth in the real world, bitcoin will burst, like the stock market crashed.