Except of course that isn’t used for currency, its mostly used for actually real life things. Like jewelry, electronics and food.
Ohhhhhh.
So it’s like if an individual dollar bill had a receipt attached to it every time it was used.
Kind of?
Lets be clear, anyone investing in bitcoin right now is speculating. They’re speculating that everyone else will get involved. What does bitcoin offer as value? Not much. It can’t really do its original purpose of being a currency, because its now too expensive and cumbersome to be used for transactions, and was only ever limited to 21 million bitcoin - nowhere near sufficient for a real currency. It doesn’t pay dividends, or have any underlying asset value. It is valuable to criminals, tax havens and Chinese people wanting to get money out of China (before last February or so anyway), but who else?
It is effectively Tulips, but worse. Here is a good article explaining my above points (or vice versa 
).
Bitcoin and Fundamentals
Here is an interesting article on how Bitcoin does none of the things it was originally envisaged to do:
BITCOIN IS NONE OF THE THINGS IT WAS SUPPOSED TO BE
Kinda.
But my (very amateur) understanding is that most if the power consumption involved in the bitcoin economy is used in mining rather than transactions.
You can effectively create new bitcoins by solving complex maths problems. So there’s some terrifyingly huge server farms set up to churn through these equations. The computers operate at very high load and high temperature, and they run 24/7. Power usage is enormous.
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Chinese mining operations break into power stations to get free power, or so I’ve heard.
You can send someone 0.0000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000001 of a bitcoin if you like so it’s not limited in the sense that there isn’t enough of the currency.
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Exactly. I read up on the mining aspect the other day, and with Ants post above, just put it together that, without the gain in bitcoin currency available to those that work out transactions, and therefore encouraging 100.000 or more crew with huge computers to compete for the $$ and race to mine the coins instead of just one working it out, the power use would be a fraction of what it is,
While everybody has been losing their ■■■■ about Bitcoin, the price of Litecoin and Ethereum have gone bananas.
I bought 9 Litecoin @ $5 each just over a year ago.
I sold three of them @ $150 each about a month ago. Which I’m a bit spewing about, as it’s worth $449 as of right now.
I realise it’s all weird pretend internet money heading for a massive crash, but man… Anybody who got the last 12 months right on cryptocurrency, is set for life.
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Huh??
If I was buying now, Ripple’s where I would look first. Only coin with a ready to go use case. It’s about to explode … well it just returned a 100% profit in the last 24 hrs 
but I think it has a long long way to go yet … $0.70 per coin atm
Ripple has got issues. Centralization for a start and accusations that it’s owners have been self inflating the price. Not to mention they can also issue more ripples when they want to.
- Bitcoin will be more centralised than ripple in 6 months
- If anything, rumour was ripple we’re holding the price back rather than inflating it to provide perceived stability for their target market … FI’s
- Escrow has locked up 55 billion coins. Leaves 38 billion in circulation, 5 billion tied up in litigation and about 2 billion available for Ripple to release
Wow, didn’t say Bitcoin was any better.
True u didn’t lol. Anyway I think a lot of the perceived issues with ripple are misunderstood. Happy hunting
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again with limited knowledge and the aide of hindsight, how many times have people predicted a bubble in the past, when it did blow up in peoples faces ?
The fact that some people are now actively what seems to be campainging about it being a bubble to my spidey senses suggests that it’s prolly not, and they just have an agenda against bitcoin.
I’d be more concerned if there was no speak of a bubble, then you know it’s coming.
yep that’s what i don’t get about it all now.
it was supposed to be a new form of payment, but essentially now rich people are buying them up and hoarding them, so essentially sooner or later only the rich will have them, and therefore have no value, sorta like playing monopoly and having 6 hotels on the board, sooner or later people run out of money, you have all this fake money, but no one left to play with or pay you if they land on your property.
That prolly makes no sense to anyone else but me haha.
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Anyone who drinks that crap deserves to be ripped off.
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Heaps of websites have been found to be doing it.
Now there is a way for contagion from a bitcoin price collapse to flow into the rest of the markets
https://au.finance.yahoo.com/news/now-way-contagion-bitcoin-price-000130836.html
HHGTTG
3 million years ago.
“Thank you. Since we decided a few weeks ago to adopt the leaf as legal tender, we have, of course, all become immensely rich. […]
“But we have also,” continued the management consultant, “run into a small inflation problem on account of the high level of leaf availability, which means that, I gather, the current going rate has something like three deciduous forests buying one ship’s peanut.” […]
“So in order to obviate this problem,” he continued, "and effectively revalue the leaf, we are about to embark on a massive defoliation campaign, and…er, burn down all the forests. I think you’ll all agree that’s a sensible move under the circumstances.”
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I reckon all these crypto currencies are just a way of laundering money.