In 2013, the emergence of cryptocurrency came into the public eye and mine. However, at first glance it looked as if it was an asset that was not backed by anything that could display why there was value behind each Bitcoin. Four years later and with a price increase of 33,000% since 2009, I am again taking a much harder and deeper look into this cryptocurrency called Bitcoin.
Below are video and article discussing the benefits of Bitcoin and the Mining Company I have chosen to invest in which is MGT (McAfee Global Technologies).
What is BITCOIN and the BLOCKCHAIN?
Blockchain is a revolutionary technology that has disrupted the
centuries old financial system similar to how the internet changed lives forever. A more recent example on a smaller scale is how Amazon is destroying the bricks and mortar shopping. The blockchain however is doing this on a much more immense scale and we are finally seeing the evolution of money begin. The last and finally piece to the disruptive ability that technology poses.
Now there’s bitcoin and blockchain. Bitcoin is
a digital currency that's used as a medium of exchange or a store of value. Being able to transfer this medium of exchange of any amount, at any time and anywhere around the world in seconds is capable because of the blockchain.
Blockchain is a
decentralized open source peer to peer network that publically keeps track of
records of previous transactions that are verified on a public and transparent distributed
ledger. This ledger is immutably (meaning it can’t be changed), and unforgeable
and is secured through cryptography that timestamps batches of transactions
that must be agreed upon by most of the participants on the network in order to
make it onto the ledger. A bitcoin transaction is validated by bitcoin miners.
These miners solve a complex equation that uses massive amounts of computing
power, also called “proof of work”. Once solved and added to the ledger or
chain a new bitcoin is added to the ecosystem and rewarded to the miner, this
is the incentive for the miners to validate the transaction as quickly as
possible. This is how new bitcoins are introduced into the ecosystem. Now,
unlike central banks that have unlimited power to print money, the bitcoin network
fixed this issue by capping the total amount of coins ever to be issued to only
21 million coins.
"We have over $200 trillion dollars right now around the World tied up in stocks, bonds, gold and cash and all four of them are overvalued, if just 2% of that $200 trillion dollars ends up in Crypto-currencies your looking at a $4 trillion dollar market cap for the entire place, and that would be almost 7 times where we are today in regards to bitcoins price." Ronnie Moas
"10 years and not one single person has entered a fraudulent transaction, that's trillions of dollars on the chain and not one has been fraudulent" Tom Lee, Fundstrat
MGT CAPITAL INVESTMENTS
STEPHEN SCHAEFFER- President of MGT Crypto-Capital Strategies podcast speaking about MGT mining operations and the overall outlook for mining Bitcoin- Click Here
Articles about Bitcoin and Blockchain
An In-Depth Look at the Economics of Bitcoin: Click Here
Dan Pantera of Pantera Capital a strictly Cryptocurrency hedge fund on Bloomberg thinks bitcoin market cap could reach $4 Trillion : Click Here Ronnie Maos- Founder of Standpoint Research discusses bitcoin: Click Here
RONNIE MOAS $28,000 BITCOIN FORECAST 2018: Click Here
Bitcoin could 'easily' reach $40,000 by the end of 2018, hedge fund legend Novogratz says Click Here
Legendary Fund Manager Mike Novogratz discussing Bitcoin Click Here Well known and most respected expert on Bitcoin- Andreas Antonopoulos Part 1: Click Here Andreas Antonopoulos-The Stories We Tell About Money: Click Here
John Mcafee challenges Jamie Dimon on Bitcoin: Click Here
Tom Lee of Funstrat Presents The Economics of Cryptocurrencies: Click Here Top Wall Street strategist expects bitcoin to be the best asset through year-end: Click Here
Bitcoin Fireside Chat with Chamath Palihapitiya of Social Capital - Coinsummit: Click Here
Bitcoin Fireside Chat with Marc Andreessen and Balaji Srinivasan - Coinsummit: Click Here Roger Ver says Bitcoin and Ethereum is stronger than ever: Click Here Rick Falkvinge “Bitcoin will be Bigger than the Oil Industry: Click Here Bitcoin: Beyond the Bubble- Full Documentary: Click Here