Anyone Invested yet? cryptocurrency

[Ollieh17]

Someone invented bitcoin....someone has the ability to crash it.I also think people are very very naive to think there is no interference anywhere

There is no value to it...its all speculative hence the reason it shot up so fast. People are buying it as an investment not as a currency. The same as buying a nissan GTR because they will go up in value, but you wouldnt try and buy your weekly shop in GTRs.

 

[Ollieh17]

2 minutes ago, Calum122 said:

@Shyam I don't think that's it, that's far too simple. If it was simply an authentication mechanism, why is it valuable. Also, why is it getting harder to "Mine". We are told there are only a finite number mathematical equations that can be solved. But what you're saying is you're using a CPU to verify transactions. Which makes no sense since why would verifying a transaction become harder to verify the more you do it.

No, more likely they are trying to solve some sort of hard to break mathematical equation, wouldn't surprise me since if you could do that, people would pay a lot of money for it. And boom, that would be why Bit Coin would have value. But I literally have no idea :/ Wish someone could explain it to me haha.

 

I get what you're saying though bud.

Bitcoin has value now because its a good place to invest REAL MONEY, for people to get more REAL MONEY out of it. I bet most people have bought into it to sell the bitcoins at a profit than to actually use them

[Shyam]

@Calum122 It is a lot more complicated like you say but that is the broken down version of what I understand of it. It becomes harder to mine when more people jump on the bandwagon and squash the verification.

Haha I like your imagination.. Have you seen the movie 'Pi' (1998) ?

[daniel_g]

It will all be worthless when the impening nuclear winter / zombie apoclypse happens anyway..