Tuesday, April 7, 2015

Is Bitcoin dead now? Mining it is more costly than the profit?

Bitcoin isn't made for making easy money with mining. And mining being costly doesn't impose any threat to Bitcoin, this just adjusts markets. The amount of security in petahashes are enough to keep network running secure for billion users even in case if 95% of miners disappear due to insolvency. So, the network itself is well-protected. While the easiness of making money isn't promised & isn't the philosophy of the Bitcoin concept. Forget about mining. Think about technology. Bitcoin is a scarce digital asset. Bitcoin is unforgible asset. Bitcoin can't be created out of thin air. Bitcoin can be transferred instantly. With no fees. Around the globe. Without banking hours. Without waiting lines of humans, or lines of documents. Without any permission from anyone. Without control. Without borders. Secure. Decentralized. Only 21'000'000 will exist ever (never ever more) - its strictly scheduled & strictly specified by protocol. The whole Bitcoin right now absolutely not depends from mining concept, because AISCs are powerful enough to be collaboratively more secure than any supercomputer in the world, even if minority of ASICs will left.

No one can freeze your funds. No one can confiscate anything. No debts. No minimum balance. No maximum balance. Open your wallets within seconds or even milliseconds. You can even create your wallet in Bitcoin by calculating it on 1980 TI-89 calculator - and this kind of wallet will be way stronger than any existing 1950 credit card system.

Choose the Bitcoin. Choose the future.