Topic: [2017-12-3]Bitcoin investors hoping to make billions (Read 311 times)

....

As you may have noticed, and based on my observations, there is no one who ever thought that their money will grow THIS big in Bitcoins as it is today. Hence, the billion-dollar dream is not impossible after all.  

It is clear that that author knows nothing about Bitcoin mining.

Generally, people invest onto something on the premise that their money will grow with it mainly because they BELIEVE in the commodity itself. In this context and in relation to the subject matter on hand, Bitcoin investors are banking on a hope that their investments will make it really big that will even surpass their expectations.

As you may have noticed, and based on my observations, there is no one who ever thought that their money will grow THIS big in Bitcoins as it is today. Hence, the billion-dollar dream is not impossible after all.  

It is clear that that author knows nothing about Bitcoin mining.

It is clear that that author knows nothing about Bitcoin mining.

Relatively few people have managed to decipher the codes needed to extract bitcoins from the 21 million locked inside the mathematical problems set by its creator...

Those who have employed enough computer power and code-cracking know-how can consider themselves rich ... The rest have deployed huge amounts of energy and time for no return.

Sifting the Yukon river for gold was a waste of time for most of the 100,000 prospectors seeking to make themselves rich in the 1890s. The same can be said of the bitcoin miners who dream of striking it rich by getting their hands on some of the extremely lucrative and painfully elusive electronic currency.

Relatively few people have managed to decipher the codes needed to extract bitcoins from the 21 million locked inside the mathematical problems set by its creator, the software engineer whose true identity is unknown but who goes by the name Satoshi Nakamoto.


Business Today: sign up for a morning shot of financial news
 Read more
Those who have employed enough computer power and code-cracking know-how can consider themselves rich now that the value of one bitcoin has soared from $753 last December to around $10,000. The rest have deployed huge amounts of energy and time for no return.

Should anyone be worried about this turn of events? Or will it go down as a moment in history when an asset was mined, some people got rich and ... that was it?

The ambitions of the bitcoin community mean the creation of a new currency must be taken more seriously. Its stellar rise in the last 18 months is likely to have sucked in thousands of speculators, many of them ordinary investors.

And with mainstream financial exchanges looking to host bitcoin as a tradeable asset, or list derivatives of bitcoin on their trading boards, thousands more will be sucked in over the next 18 months.

Where ordinary investors, hunting in large numbers, seek a return on their savings in a high-risk environment, governments are usually minded to regulate.

The idea behind bitcoin was that it should be like any commodity that, once discovered, became increasingly difficult to extract. Like gold, it would become a store of value and make those clever enough to find it and believe in it very rich.