Bitcoin Bubble or Bright Spot: What is the Longevity of Crypto-Currencies?
Could you imagine spending $150,000 a day to mine for gold? Bitcoin miners are racking up that cost in power consumption a day alone. The ‘Gold Rush’ err… ‘Bitcoin Rush’ is definitely upon us. Bitcoins are “mined” by unlocking blocks of data that “produce a particular pattern when the Bitcoin ‘hash’ algorithm is applied to the data.” Is there a Bitcoin bubble? Is there any longterm use for a crypto-currency? Will the market be flooded with other virtual pseudo-currencies?
This morning we’ll be hearing from one of the best Bitcoin experts and long time users, our own Mark “Rizzn” Hopkins will share his thoughts on this morning’s Live NewsDesk Show with Kristin Feledy (see live stream below). We expect Mark to highlight the longevity of crypto-currencies, and how the financial uncertainty of the world is factoring into Bitcoin’s growth.
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