Despite this year’s tough market environment, some are still bullish over the long term and are rolling out products to attract investors. Jiang Zhuo’er, CEO and founder of mining pool BTC.Top.
Bitcoin is designed to resist change by making it cheaper for the MAJORITY to be intolerant. It does this by automating the detection and rejection of transactions and blocks that don’t abide by the social contract.
Bitcoin decentralizes the banking system by returning the power to manage your own money in the hands of anyone who is willing to participate in the network.
After a decade of barbaric growth, the mining industry is at crossroads. The entanglement of the three forces produces unpredictable short-term variances, but over the long-term as Bitcoin integrates deeper and wider with the rest of the economy, mining will become more competitive and resource-intensive.
There’s no way to overstate the significance of the first-ever decentralized distributed network (the Bitcoin blockchain) utilizing the first-ever purely digital store of value, medium of exchange, and unit of account (Bitcoin).
Satoshi Nakamoto’s Bitcoin whitepaper was genius. It described a system that effectively turned electricity into truthful records. That may sound strange, but Bitcoin’s ability to produce absolute trust between disconnected groups of people is groundbreaking.
She discovered that she can use bitcoin to top up people’s phones on bitrefill.com, and she can charge for this. For every 100 dollars she receives in bitcoin, she gets 120 CUC in cash from her friends whose phones she tops up. Ira is quite pleased that she has found a way to arbitrage the currency exchange. If she got paid via Western Union, she’d lose 15% of what the agency pays her. This way, she makes 20%.
Bitcoin will become the international monetary standard and validating the network will be a matter of national security and sovereignty.
Bitriver, the largest data center in the former Soviet Union, was opened just a year ago, but has already won clients from all over the world, including the U.S., Japan and China.
The climb is all there is.
Don’t trust, verify.
You are not prepared.
But you could be, to a certain extent at least.