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Bitcoin: The New Gold or the Currency of the Future?

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Bitcoin: The New Gold or the Currency of the Future?

Bitcoin is not the new gold--and currently--I don't even consider it money.

At best, Bitcoin is currently a store of value and at worst a speculative asset.

It's future success inevitably depends on the likelihood of people identifying with Bitcoin's underlying ideals: independence from our current financial system.

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Bitcoin explained: Here's everything you need to know - CNET

How does one 'mine' Bitcoin?

A person (or group, or company) mines Bitcoin by doing a combination of advanced math and record-keeping. Here's how it works. When someone sends a Bitcoin to someone else, the network records that transaction, and all of the others made over a certain period of time, in a "block." Computers running special software -- the "miners" -- inscribe these transactions in a...

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Date: 2017-12-20 03:34:24
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Bitcoins

Courtesy of Casascius/Wikimedia Commons

Update, 3:13 p.m.: The bitcoin market is extremely volatile today, with the price ranging from a low of $120 to a high of $266. You can see the latest prices at the top of the page here .

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Date: 2017-12-20 01:29:06
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Trading Bitcoin comes with statuary warning, sometimes from one's own instincts -- and sometimes -- from the governments' empathetically written circulars. The digital gold has indeed swept a large section of global traders and investors towards its mouth-watering -- and risky -- volatility. And as with any speculative market, Bitcoin has its shares of ills when it comes to...

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Date: 2017-11-07 16:30:15
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The Grumpy Economist: Bitcoin and Bubbles

So, what's up with Bitcoin? Is it a "bubble?'' A mania of irrational crowds?

It strikes me as a fairly pure instance of a regularly occurring phenomenon in financial markets, one that encompasses some "excess valuations" in stock markets, gold and commodities, and money itself.

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Some of these answers were derived from https://en.bitcoin.it/wiki/ under the Creative Commons Attribution 3.0 license.

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Date: 2017-12-20 02:55:12
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08/20/17 AT 7:00 AM

Charlie Lee invented litecoin, which works cheaper and faster than bitcoin. Photo: Charlie Lee

If future generations buy their coffee with cryptocurrency, they will have globetrotting programmer Charlie Lee to thank for it.

Lee was born in the Ivory Coast, West Africa, and immigrated to the United States at thirteen. He read a Wired article about the Silk Road black market...

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Date: 2018-01-30 16:17:54
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The Bitcoin phenomenon is well and truly upon us, with its current impact dubbed as being the driving force edging us towards a Fourth Industrial Revolution of all things! Bitcoin is a currency that is pushing the boundaries of what we consider to be 'currency' and does precisely what fiat currencies do not- Bitcoin is free of regulation, totally anonymous and has a value that is not determined...

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Bitcoin Mining Pools: How To Find and Join One

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Date: 2017-03-09 16:37:19
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Bitcoin Investment Calculator: Use it Before You Invest

30BTC » Bitcoin Investing

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Date: 2018-01-27 06:07:55
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Electrum is a great Bitcoin wallet for both beginners and advanced users. It is a wallet perfectly suited for daily use of Bitcoin: making purchases online and transferring funds between people. Although it has a simple interface, Electrum is one of the most secure wallets out there. For both of these reasons, we recommend it to all of our users, and we also want to help you setup Electrum...

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