Topic: Bitcoin – a soap bubble or currency of the future? (Read 104 times)

Futurama is an exclusive, three-day immersive experience in the first ever format of NextGen event. Only hi-tech performance, top whales and Arabian luxury.

Starred speakers: Brock Pierce, Niko Matsumuro, Joshua Hong, DataDash and +15 more celebrities.


Exclusive program


📌 Breathtaking AI Projects – more far-reaching than science fiction might suggest.  
📌 Meetings in VR – get-togethers in virtual offices around the globe without the traveling hassle.  
📌 Next Generation Blockchain – from air taxis to XXX, you'll be amazed.  
📌 Wild networking – grab a falcon and jump on a balloon for a sunrise flight with Brock Pierce and John Mcafee.  
📌 We'll make the Coachella look outdated.  

Event Packages

Single $4,995.00/Double $8,995.00
The price inludes: Hotel room at 5-star luxury Meydan Hotel Dubai, access and transfer to all Conference events, transfer to and from DXB Airport, drinks & meals at event locations.


How to join the most generous Referral Program and earn $500 per each user referred! All you need is:

1. Register on the Coinsbank website.
2. Fill in the Google form.
3. Add a signature containing the link to the Futurama Blockchain Conference (https://coinsbank.com/dubai/) to your BitcoinTalk account.
4. Get the personal promocode (we'll send it to you within 24 hours), add it to your post for social network and share the information about the project with your friends.
5. Receive your daily rewards in BTC or USD in amount of 10% of the ticket sold.

                                                          Bitcoin – a soap bubble or gold of 21 centuries?

1. Speed of production and issue of bitcoin is permanent and does not depend on the total volume of computing powers

Investigations:
The complexity of production of bitcoin is regulated artificially and is directly proportional to the cumulative computing power of network.
If all are disconnected from network, except one old computer, it will get bitcoins just with the same speed, as well as all network for today.
In my opinion, it already slightly less than completely looks like a bubble as the cost of bitcoin grows thanks to growth of cost of costs for its mining, creating feeling of growth of its value.
In a mining, however, there is no other sense, except complication of a problem of illegal assignment of an award for a mining by "the attack of 51%".
Nobody, except mayner, can carry out such attack. They are protected from each other.
But that the most important, in this attack is not present any sense as the attempt of cracking will lead to instant falling of cost of bitcoin. If only to spoil finally when the bubble bursts and to someone it will want to experiment.

2. For the successful attack it is enough to control more than 50% of computing powers.

If my calculations are right, they show that only a small part of mayner works in profit, the others will receive a loss if they sell bitcoin at a current rate.
But even if the Chinese mayner buy the electric power cheaper, the order of numbers will not change and this output can be corrected approximately so: the cost of production of bitcoin is approximately equal to its market value.
Once again we will remind ourselves that the mining does not bear any value added. It is just work for the sake of work.

4. Three-four transactions per second at a theoretical maximum are carried out to networks of bitcoin on average — seven.

For comparison, Visa carries out 2 thousand transactions per second at peak values to 50 thousand.

From this it follows that the network of bitcoin is absolutely unsuitable for carrying out payments neither on processing speed, nor at cost.

In a dry remaining balance we have:

.the .dobycha of bitcoins is monkey business;
.the .tsena of bitcoin is defined, first of all, by costs for its production (monkey business);
.sebestoimost of carrying out transaction in network of bitcoin — about 70 dollars.
In my modest opinion, the bitcoin with the growing price represents the classical bubble which is beautifully enveloped in mysterious for the majority and places perspective technology of a blockchain.

5. Instability of a rate of cryptocurrencies

The cryptocurrency has no uniform course. For example, the rate of bitcoin can change several times a day. Some people try to earn from it: to manage to purchase digital currency cheaper and to sell more expensively. However while there takes place sale, the bitcoin manages to change the course several times. Therefore his fans have to be ready to loss of investments.
The majority of cryptocurrencies is decentralized, they have no uniform bank which would control all system. Their course depends on trust of users. After hackers cracked one of the largest bitcoin exchanges in July, 2017, the rate of bitcoin fell from 2,6 thousand dollars for unit to 1,9 thousand dollars. The trust to cryptocurrency was lost though hackers cracked not bitcoin, and only third-party system.

                                                                        Bitcoin - the best example of a speculative bubble.

The financial bubble arises when too much money costs behind a small amount of assets therefore these assets are revaluated. Cryptocurrencies approach under what many understand how a soap bubble in economy. It is impossible to deny that in fact, the bitcoin is supported with nothing, in difference from normal currencies, it seems dollar or euro which stay afloat thanks to the states to which they belong. There are also other cryptocurrencies, stabler, like an efirium. It is based on technology a blockchain and works at smart contracts which are kind of a guarantor of an efirium. At the same time, any alternative кpиптoкoин, depends on bitcoin and its course. It is possible to notice that if the bitcoin gets stronger and grows, other cryptocurrencies on the contrary lose the positions and their course falls – all because users altkoiny begin to transfer them to bitcoin.

                                                                                Hackers and their new viruses

New technologies generate new threats and viruses. And some greedy hackers thought up as it is possible to earn from cryptocurrency. Besides that the bitcoin purse can be stolen because of vulnerability of an operating system of the computer, hackers think out new means of production of cryptocurrencies. Kaspersky Lab declared existence of the viruses-maynerov and about 9000 computers infected with this virus.