This was around $14 in the beginning of the year....even if these coins lose 74-90% of their value over night they are still up tremendously in the last 2-3 years...
Is this even possible??? As much electricity as the entire world???? Naturally, this is leading to concerns about sustainability. Eric Holthaus, a writer for Grist, projects that, at current growth rates, the Bitcoin network will "use as much electricity as the entire world does today" by early 2020. "This is an unsustainable trajectory," he writes.
"each bitcoin transaction requires the same amount of energy used to power nine homes in the U.S. for one day." Proof of Work has no future . "Proof-of-Work (PoW) is not secure, has no future, and it's electricity usage is a cancer that would guzzle watts like entire continents. Bitcoin needs to change to Proof-of-Stake (PoS) if it's to survive in the long run..."
It will change to small percentage fee per transaction when all BTC mined. Who cares about the electricity bill when the BTC reward easily justifies the mining cost Another day onwards and upwards. Suspect buying now to dump on the public next week when becomes easier for them to buy.
Of course that's not possible. Fake mathematics, fake news.... Production of one coin costs about 25-50% of its market-value, doesn't matter if it's 2010, or 2017, or 2025. If what "Eric Holthous" predicts was true for 2020, then one Bitcoin would be worth: $9.600.000. Which is of course BS.
Wow the magic coin just went from $12k to $13k in less than 24 hrs.......it will soon be jumping$10,000 increments in 24 hrs ... Just buy some fairytale coins ..you'll be rich in hours versus years by buying stocks....
this is just crazy! I don't know what to make of it all.. 5-10% moves in one day! I mean this is just nuts..