Google Wave, Google Glass, Bitcoin, And Dot Com, Not Kim DotCom
|This is an icon for social networking website. This is part of Open Icon Library's webpage icon package. (Photo credit: Wikipedia)|
It is like the Internet went out of fashion in the late 1990s. But it came roaring back a few years later. I think the current slump in the Bitcoin concept is like that. And I hope the slump is not that deep, and it does not last as long. I hope people steer out of the slump fast. Because the basic concept is nothing short of revolutionary. It is sound.
Price Slump Tests Bitcoin’s Self-Correcting Economics
A Bitcoin is currently worth just over $200, down about one-third from where it began January. It peaked at more than $1,000 late in 2013. ..... Andresen says he wouldn’t be concerned even if half of miners suddenly gave up. “The result would just be one month where the average transaction took 20 minutes to confirm instead of 10 minutes,” he says. “For Bitcoin users that would be a minor nuisance not a major disaster.” ...... “The system is self-tuning and self-optimizing