Why BITCOIN is so Interesting!
Newer technological advancements that disrupt present technologies and industries first attract the attention of INNOVATORS (2.5%), who are followed by the EARLY ADOPTERS (13.5%) and the EARLY MAJORITY (33%).
Bitcoin had its beginning in Jan 2009 and innovators spent 2009 – 2012 seeing it increase in value from .008 cents US to $13.00 US. From 2013 – 2017 the early adopters became involved and the value of one Bitcoin has since increased to $20,089 US as of Dec 17, 2017.
We are just entering the stage of the “EARLY MAJORITY” and it is a challenge to even attempt to estimate how long we will remain in this stage. The value of the BITCOIN is extremely volatile but is rapidly gaining acceptance and legitimacy by major financial institutions and individuals in every country of the world.
Bitcoin definitely has ‘first mover’s advantage’, but who will be the leader in Dec of 2018 is still to be decided. There is always BITCOIN CASH (a totally separate cryptocurrency) and EMPHEREUM along with at least thousand others digital currencies in the competition. To make it even more challenging a newer technology “HASH GRAPH” is challenging the “BLOCK CHAIN” technology on which the cryptos are based.
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Recent Comments
24
Hi, Roger.
Paul here from just East of you.
Nice to hear from you again, and a very nice post. Keep up the great work.
The 'Technology Adoption Curve' is one that can be used to compare almost all industries. I used something just quite like it a couple of weeks ago when I was writing about HYIP's (High Yield Investment Plans).
Its complexity is now as complex as 'The Internet of Value itself.'
Crypto/Digital currencies have captured my attention.
I have contributed some articles and posts on HYIP's, MLM's, Network Marketing, Affiliate Marketing, Bitcoin, Blockchain, Cryptocurrency and so on to 'The Google Masters.'
And, I have had some good results. To ignore 'The Internet of Value,' in my opinion would be foolish.
Thank you also for posting earlier, a 'Free Introduction Course' offered through The University of Nicosia.
If anyone wants to revisit, here is the URL:
https://digitalcurrency.unic.ac.
The Course is a MOOC meaning a course of study made available over the Internet without charge to a very large number of people.
I will probably sign up at the next one to get certification that will be held forever on the 'Blockchain.'
I was completely thrilled to learn that Andreas Antonopoulos is one of the founders of this MOOC. We can all learn more about him here:
https://antonopoulos.com/
Thanks again for the post, Roger. I could go on for a very long time, but I am going to cut it short.
I'm going to scroll down to see what others think.
Kindest regards,
Paul.
Hi Paul,
I got this message when i clicked on the URL in your response I got this message This site can’t be reached
digitalcurrency.unic.ac’s server IP address could not be found.
DNS_PROBE_FINISHED_NXDOMAIN
I did find this address which works for me:
https://digitalcurrency.unic.ac.cy/free-introductory-mooc/
I have signed up to take the course again which starts in Feb, 2018. A couple of us are trying to organize a group of 7 to 10 individuals here in Edmonton that will meet on Sunday mornings to discuss the weeks course work and motivate each other.
As of Dec 20, 2017 1,744 individuals have signed up to take DFIN511-1-2018 from the University of Nicosia and yes - Andreas Antonopoulos is one of the professors offering the course.
Hope to see your name on the list.
Regards,
Roger
Thanks, Roger for the back-up.
Your link is the one to link to the University and the free introductory course.
https://digitalcurrency.unic.ac.cy/free-introductory-mooc/
The group that you are forming will enjoy the DFIN5 Open education program provided in MOOC.
I have not signed up for the new year program because I should still finish the the last program of last year which I started late.
So you will probably not see my name on that list.
Kindest regards,
Paul.
I read an article today that the co-owner of bitcoin sold all his bitcoins to bitcoin cash. He described it as a highly risky investment to get into at the moment. So if the founders are running away from it, shouldn't everyone else be doing the same.
All cryptocurrencies are extremely volatile, but the top ones just keep going up (so far) over the longer term, even if others are running for the exit. Individual coins have attributes which can make the either attractive or unattractive over time.
There are definitely bubbles, but just when will they pop. In the mean time many individuals are doing extremely well. I would recommend lots of learning is required; lots of experience with money you can afford to lose; and lots of self-discipline/control.
Hi, Colorman.
Paul Mindra here from Ontario, Canada.
Bitcoin Does not have an owner. It is a protocol.
The 'thing' known as Satoshi Nakamoto may have held some bitcoins for itself but outside of that, the owners are those that are holders in due course of a digital asset accessed to by private and public keys.
I'm not an expert. I am learning. I do encourage people to look at Digital/Cryptocurrency with a bit more seriousness though.
Thanks for your comment and my opportunity to reply to it.
Kindest regards,
Paul.
You are welcome, Leonard.
I would like to be a part of your network.
As such, I will click on your 'follow me' button.
Kindest regards,
Paul.
That is great. Bitcoin has "first mover advantage" but I doubt if they will maintain it in 2018 unless they make some big changes. There are some much better crypto currencies out there.
Hi, Michael.
I remember that one of our last communications before I went away to learn more was 'Bitcoin.
I'm in the position now of one of your sons.
It is a good feeling but not one for the 'faint heart.'
Kindest regards,
Paul.
Bitcoin cannot be what it represents..the new money for online payment...Do you know why? Because of the low transaction per second..only 5 -7..visa 24000 per sec.
I do NOT and would NOT invest in Bitcoin for 3 reasons:
1. Transactions have risen from $0.13 US in Dec. 2013 to $29.00 US in Dec. 2017;
2. it now takes an average 4.5 hours to confirm a transaction.
3. The number of merchants accepting bitcoins is not increasing and may be decreasing.
I AM investing in Bitcoin Cash ( a totally separate cryptocoin) which is committed to and doing the exact opposite in all three cases.
The same problem ..Amazon needs min 600 - 1000 transaction per sec..I think only ripple or stellar can get that speed
You got it.
Now, let's look into the nitty gritty right, Leonard.?
I have been reading some white papers that claim 'scaling' to 50K TPS (Transaction per second).
I think that Ripple is already at 15K TPS.
I'm doing some homework on another concept where the 'mining' component of the equation is turned into 'minting.'
This is a great time.
Kindest regards.
Paul.
Thats interesting, I have heard it is a bubble. It doesnt seem logical to keep going up. I always go by if it seems too good to be true it probably is... I think investing would have been a good idea early on. I am just recently learning about the possibility of investing in bitcoin firms?? You put a starting amount in like 400$ instead of the 13,000$? Idk its all still confusing.
There is no doubt Bitcoin is in a bubble, but for a number of reasons that bubble may get a lot bigger and last for another year or two.
If I was new and wanted to invest in Bitcoin I would only invest a $100 or $200 and hope for the best, BUT for the reasons stated in my reply to LeonardGo, I will invest $1,000 or $2,000 in Bitcoin Cash.
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Thanks for sharing this update!