without reliance on intermediaries, like banks. As any economist will tell you, one of the basic requirements of good money is that its value be relatively stable. There should be no controversy anymore about calling bitcoin a currency. A currency is simply a good that serves as a medium of exchange, meaning that people trade it for the goods and services they want. These transactions provide security for the.
After teasing us for most late 2016, bitcoin almost reached a new all-time high in the first week of 2017.
Related Questions More Answers Below.
The answer is yes.
Bitcoin is the only viable currency in the long run.
Fiat currencies are a legalized way to transfer wealth from the tax payers and savers to the rich people.
Should one Bitcoin be worth 10? That is, before startling everyone with a sharp crash, rally and correction. It helps to make a distinction here between bitcoins as currency units, and bitcoin as software that runs on a decentralized network of computers. While the eventual performance is not that relevant for bitcoin fundamentals, it does signal enough robust support to withstand short-term fluctuations. This can increase the speed and reduce the difficulty in mining, putting profitability in reach. Determine at what price level bitcoin mining becomes profitable for youthat is your breakeven price.