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Dec 12

The Future Of Bitcoin

Litecoin shot up over the last few days giving rise to the uninformed masses (many of whom were journalists) once again berating Bitcoin as something that will inevitably fail. Between articles citing that "pump and dump" is the future of bitcoin, and that it is valueless because it is based on "nothing." Fiat money has been in circulation since 1000 AD and has no intrinsic value. It's first recorded use was in ancient China, and every single US dollar is a form of Fiat money since we abandoned the gold standard in 1971. Credit cards, are literally a system of debt at interest against valueless fiat currency, and at a fixed rate against even more valueless currency, even that still seems to be going strong.

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Nov 13


Originally posted on my last website version and still accurate as my assessment. 

If you haven't begun investigating bitcoin because you weren't sure where to begin, a good place might be coinbase. A fairly typical exchange with paypal access and stringent security that is user friendly enough to get started with.
One of the reasons we like coinbase, is their ability to accept small payouts from experimental mining like small scale cloud mining. Cloud mining involves purchasing hashpower and allocating to a specific cryptocurrency like litecoin, bitcoin, ethereum etc.
On a small scale a $30 investment tends to payout small change daily, but as time goes by some of these allocations can add up/add to other small scale mining efforts. In an article next week we'll probably be going over how to build a small bitcoin mining rig.

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