Wednesday, January 18, 2017

Social Experiment


It has come to my attention that many people all around the Clear, and indeed the Dark Web suffer from endless ads on how to make money with BitCoin, LiteCoin, and countless other CryptoCurrency.
Let me tell you, that's all bunk.  At the time of writing this blog, BitCoin is valued at 1btc = $883.95 USD.  True, the value of a BitCoin fluctuates quite a bit.  It's been as low as $0.05 USD and as high as $1500.00 USD.


Bitcoin

From Wikipedia, the free encyclopedia
 Bitcoin is a cryptocurrency and a payment system[14]:3 invented by an unidentified programmer, or group of programmers, under the name of Satoshi Nakamoto.[15] Bitcoin was introduced on 31 October 2008 to a cryptography mailing list,[16] and released as open-source software in 2009.[17] There have been various claims and speculation concerning the identity of Nakamoto, none of which are confirmed.[15] The system is peer-to-peer and transactions take place between users directly, without an intermediary.[14]:4 These transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain,[18] which uses bitcoin as its unit of account. Since the system works without a central repository or single administrator, the U.S. Treasury categorizes bitcoin as a decentralized virtual currency.[11] Bitcoin is often called the first cryptocurrency,[19][20][21] although prior systems existed[note 4] and it is more correctly described as the first decentralized digital currency.[14][25] Bitcoin is the largest of its kind in terms of total market value.[26]
Bitcoins are created as a reward in a competition in which users offer their computing power to verify and record bitcoin transactions into the blockchain. This activity is referred to as mining and successful miners are rewarded with transaction fees and newly created bitcoins.[14]:5–7 Besides being obtained by mining, bitcoins can be exchanged for other currencies,[27] products, and services.[28] When sending bitcoins, users can pay an optional transaction fee to the miners.[29] This may expedite the transaction being confirmed.
In February 2015, the number of merchants accepting bitcoin for products and services passed 100,000.[30] Instead of 2–3% typically imposed by credit card processors, merchants accepting bitcoins often pay fees in the range from 0% to less than 2%.[31] Despite the fourfold increase in the number of merchants accepting bitcoin in 2014, the cryptocurrency did not have much momentum in retail transactions.[32] The European Banking Authority[33] and other sources[14]:11 have warned that bitcoin users are not protected by refund rights or chargebacks.
The use of bitcoin by criminals has attracted the attention of financial regulators,[34] legislative bodies,[35] law enforcement,[36] and media.[37] Criminal activities are primarily focused on darknet markets and theft, though officials in countries such as the United States also recognize that bitcoin can provide legitimate financial services.[35]
 It's only a matter of time until BitCoin is traded on all the major Stock Markets, and accepted as a legitimate currency.

There are many vendors around the world that already accept Bitcoin as an option to pay.  Many of those vendors are storefronts.  Brick and Mortar stores.  Not just online, although that's where the vast majority of them are, currently. 





Value forecasts

Financial journalists and analysts, economists, and investors have attempted to predict the possible future value of bitcoin. In April 2013, economist John Quiggin stated, "bitcoins will attain their true value of zero sooner or later, but it is impossible to say when".[182] A similar forecast was made in November 2014 by economist Kevin Dowd.[195]
In December 2013, finance professor Mark T. Williams forecast that bitcoin would trade for less than $10 by mid-year 2014.[196] In the indicated period bitcoin has exchanged as low as $344 (April 2014) and during July 2014 the bitcoin low was $609.[45][197] In December 2014, Williams said, "The probability of success is low, but if it does hit, the reward will be very large."[198]
In November 2014, David Yermack, Professor of Finance at New York University Stern School of Business, forecast that in November 2015 bitcoin may be all but worthless.[199] In the indicated period bitcoin has exchanged as low as $176.50 (January 2015) and during November 2015 the bitcoin low was $309.90.[45]
In May 2013, Bank of America FX and Rate Strategist David Woo forecast a maximum fair value per bitcoin of $1,300.[200] Bitcoin investor Cameron Winklevoss stated in December 2013 that the "small bull case scenario for bitcoin is... 40,000 USD a coin".[201]

Now, my experiment is thus:  Below you will find a QR link to my BitCoin Wallet, and an HTML link to it, as well.  If everyone who reads this blog, and is currently a BitCoin Miner, or a Bitcoin user, I ask you to transfer a small amount to my wallet.  I currently use a small BitCoin ASIC miner, and would A: like to upgrade it, and B: would like to use the extra BitCoin to invest in this blog.  To be able to do more research, and be able to spend more time working on blog posting.  Make sense?

Thanks you for reading, thank you for sharing whatever BitCoin you can, and thank you very much for sharing this blog on your favorite Social Media sites.