Bitcoin surges past $4,300 following controversial hard fork

Bitcoin earlier this month experienced what was arguably the most controversial network happening to date: a hard fork . The move generate...

Bitcoin earlier this month experienced what was arguably the most controversial network happening to date: a hard fork. The move generated a massive cloud of uncertainty that encompassed the entire cryptocurrency community. Two weeks removed from the storm, however, things look brighter than ever.

The value of a single Bitcoin has skyrocketed from an already impressive $2,735 on August 1 (the day of the split) to $4,323, an increase of nearly 60 percent. To put things into perspective, Bitcoin’s market cap as of writing is now higher than PayPal’s ($71.43 billion versus $70.37 billion).

Bitcoin’s meteoric rise since its creation by the mysterious Satoshi Nakamto (likely a pseudonym) has been nothing short of astounding and has highlighted the desire for a decentralized currency. Many, however, aren’t quite sure what to make of cryptocurrencies in general and struggle to wrap their heads around the idea that a digital, non-tangible “currency” can be as valuable as it is (or for that matter, have any value at all).


For those grappling with the idea, I point to a recent tweet from technology pioneer John McAfee (of anti-virus software fame).

While it’s true that something is only really worth what someone else is willing to pay for it, McAfee’s statement analyzes Bitcoin’s value from a practical standpoint. Creating a single Bitcoin now requires loads of processing power and in turn, electricity.

Bitcoin is soaring at the moment which makes it easy for investors and the public in general to put on blinders and temporarily disregard the cryptocurrency’s extremely volatile nature. Its value could just as easily be cut in half by this time tomorrow and nobody would be all that surprised.

If you are on or planning to ride the Bitcoin roller coaster, be aware that you’ll likely experience incredibly high peaks and extremely low valleys along the way.


https://www.techspot.com/news/70559-bitcoin-surges-past-4300-following-controversial-hard-fork.html
Name

English News techspot.com
false
ltr
item
Techno - Gampong IT - Reference Information Technology: Bitcoin surges past $4,300 following controversial hard fork
Bitcoin surges past $4,300 following controversial hard fork
https://techspot-static-xjzaqowzxaoif5.stackpathdns.com/images2/news/bigimage/2017/08/2017-08-14-image-9.jpg
Techno - Gampong IT - Reference Information Technology
http://techno.gampongit.com/2017/08/bitcoin-surges-past-4300-following.html
http://techno.gampongit.com/
http://techno.gampongit.com/
http://techno.gampongit.com/2017/08/bitcoin-surges-past-4300-following.html
true
7281475864779722461
UTF-8
Tidak ditemukan artikel apapun LIHAT SEMUA Selengkapnya Balas Batal Balas Hapus Oleh Beranda HALAMAN ARTIKEL Lihat Semua REKOMENDASI LABEL ARSIP SEARCH SEMUA ARTIKEL Tidak ditemukan posting yang sesuai dengan permintaan Anda Halaman Utama Minggu Senin Selesa Rabu Kamis Jumat Sabtu Min Sen Sel Rab Kam Jum Sab Januari Februari Maret April Mei Juni Juli Agustus September Oktober November Desember Jan Feb Mar Apr Mei Jun Jul Agu Sep Okt Nov Des baru saja 1 menit lalu $$1$$ minutes ago 1 jam lalu $$1$$ hours ago Kemarin $$1$$ days ago $$1$$ weeks ago lebih dari 5 minggu yang lalu Pengikut Ikuti KONTEN PREMIUM Silakan share untuk membuka Salin Semua Code Pilih Semua Code Semua kode disalin ke clipboard Anda Tidak dapat menyalin kode/teks, silakan tekan [CTRL] + [C] (atau CMD + C dengan Mac) untuk menyalin