Bitcoin Rises Again!

Bitcoin Rises Again!

People can’t seem to agree on todays  price! But the lowest recorded height seems to be  this one…$16,437 for 1 Bitcoin.

I also found out today that a smallest fraction of a Bitcoin — the penny of the Bitcoin world — is referred to as a Satoshi, after the anonymous creator of Bitcoin.

0.00000001 of a Bitcoin.

If you want to know more before you jump in here is a very good article by the New Your Times about what bitcoin is and how it works.

Bitcoin Rises Again!But Bitcoin and the other Crypto-Currencies are causing normal bankers nightmares. My understanding is relies on the technology of Blockchains – digital code stored on distributed databases. Meaning that the storage devices for the database are not all connected to a common processor and therefore Blockchains are secure by design.

The likes of companies like Visa are being challenged to the core because they are/have been the ‘middle men’ and it looks like they are becoming redundant.

And when you think about it – what is money? It is only a promise to pay – to transact value. Gone are the days when we had the Gold Standard. So,  where is all the money stored?

Well presumably its in an online transaction these days. A number on a ledger Visa controlling the  order. Crypto-Currency – cuts out this transaction and records in the code onto a blockchain.

Anyway…

That is my own understanding.

But should we ordinary folk ‘invest’?

Well my virtual web-developer asked me today if I would pay him in bitcoins – and in doing so he would give me a 20% reduction in the bill!

It’s all promises and confidence.

So, I am testing the waters with my little bit of an ‘investment’. Both buying and paying. I wonder  what our fellow human beings thought when someone produced a piece of paper with ‘a promise to pay’.

Times are a changing and if its one thing I have learned you have to change with them or you get left behind.

It your success in this world!

Best Wishes,

Diane Duvnjak

PS Traditionally Stocks & Shares have given us an average return of about 10%.
So, to get a $100 return you investment would have to have been $1m 🙁

PPS Currently, investment in property here in  Oxford UK for a return of $100
rent a year, would have to be $5m 🙁

PPPS We don’t know yet with Bitcoin and the other Crypto-Currencies 🙁 But
this is where I have invested!

PPPPS You Can always do a Course At the Oxford University Said Business
School…6 weeks online – one subject eg ‘Blockchains’ $2947…. $53,046 for
3yrs in total study – and then you have to go an build your own business.

PPPPPS This Online Home Based Biz, for $100K return – initial investment $1.
Total investment paid over your own designated time..$27,501

 

 

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