Skip to main content
Loading...

Featured Post

Game Of Thrones Season 8 - End Game With Sinhala Subtitles

Flipboard

Flipboard

Bitcoin Is 10 Years Old Yesterday


Bitcoin has been around for 10 years as of today, and if you were an early adopter you’re probably reading this from your shiny new yacht.

Bitcoin’s popularity has waned somewhat in recent months, as its current price of £4,908 ($6,337) is a long way below it’s all-time high of just over $20,000 on 17 December last year.

The cryptocurrency space has seen a rough year as a bear market continues to reign supreme. As with any market, it’s extremely difficult to point to a single reason as to why this is, but the cryptocurrency market being unregulated makes it even more susceptible for manipulation or even just emotional reactions.

Bitcoin is currently operating just above its ‘operating cost’. To understand what that is, you first need to appreciate that the Bitcoin ecosystem runs off the backs of ‘miners’ who use powerful computers to complete complex algorithms to process transactions.

These algorithms enter and encrypt records of Bitcoin transactions into the blockchain. The miners are paid for this work with new Bitcoins that are ‘mined’ as this work is completed. However, this is only profitable if miners have an incentive to keep mining, which means the price of one Bitcoin must always be slightly higher than the cost of mining it – otherwise the miners will stop and everything will grind to a halt.
This means that the price of a Bitcoin shouldn’t drop below its current threshold for very long, if at all. However, as with literally everything in the cryptocurrency space, nothing is certain.

Bitcoin still holds a 54.2% market dominance over the space, and with the nature of how cryptocurrency is purchased, Bitcoin (and Ethereum) will be the first two coins to rise when (if) the market starts to pick up speed again. However, the ‘alt’ coins will see the biggest gains when the market really gets going.

The space is, as ever, extremely interesting to watch and the next year will be as unpredictable as the last. With prominent analysts claiming that by the time Bitcoin reaches its 20th birthday its value could have increased by 5000%, this could well be the perfect time to buy, but claims like these are made fairly often in this space, so be sure to think very hard before you do any investing.



Comments

Related Posts Plugin for WordPress, Blogger...
Loading...

Popular posts from this blog

Samsung Galaxy Buds Review

Samsung has introduced a new pair of wireless earbuds with various upgrades including wireless charging. Find out what we make of the Galaxy Buds in our full review.
Should I Buy The Samsung Galaxy Buds?
The Galaxy Buds are solidly good wireless earbuds with comfortable design and reasonable sound quality for an affordable price.
Samsung has added some nice features here like Ambient Sound, but there are also cost cutting measures and iPhone owners will want to avoid considering these as an AirPods alternative.

Samsung Galaxy A7 (2018) Review

A mid-range phone with triple rear cameras is a rare thing, especially at under £300 but the Galaxy A7 isn't an instant winner. Find out why in our full review.
Should I Buy The Samsung Galaxy A7 (2018)? The Galaxy A7 is a decent choice for a mid-range phone if you're looking to spend less than £300. Highlights include an excellent screen, nice design and cameras you'd wouldn't expect to find.
However, unless you're going to use the wide-angle lens a lot there are some strong rivals out there like the Moto G7 Plus and Honor Play.

Huawei Mate 20 X Review

The Huawei Mate 20 X is an obscenely large smartphone but it has many of the features of the Mate 20 Pro for less. Here’s our full review of the huge premium slab
Should I Buy The Huawei Mate 20 X?
With a bigger screen, bigger battery and smaller notch than the Mate 20 Pro, the Huawei Mate 20 X also has the same camera set up and adds a headphone jack. If you want the most screen possible, it might be for you. 
You lose the curved display, wireless charging, full water resistance and secure Face ID but for many that won’t matter if a huge display, outstanding camera and great performance are top of your list. If you want a normal size phone, get the Mate 20 Pro.

iHealth Core Review

This smart scale from iHealth offers detailed body composition measurements, from BMI to visceral fat rating. Find out what we think in our iHealth Core review.
Should I Buy The iHealth Core? We like the way that the Core and Lite scales interact with the other iHealth products, and the Core offers a bunch of useful metrics with which to monitor your health. Setup is easy and the app's graphs give a decent visual representation of your health-metric trends as you progress.

How To Send A Text Message Using Google Home

Google Home might tell you it can't send a text message, but we've found a way. Here's how to set up text messaging on Google Home.
Regardless of what it tells you, it is possible to send a text message via Google Home using the free app IFTTT, as we'll explain below.

Like Fan Page