Sunday, December 7, 2014

Techcrunch article: A Bitcoin Battle Is Brewing

Please see: Hill, Austin, "Bitcoin: Is Cryptocurrency Viable?" (2014). CMC Senior Theses. Paper 902.

47 people in the world own 28.9% of Bitcoins.
880 people in the world own 21.5% of Bitcoins.
10,000 (ten thousand) people in the world own 24.8% of Bitcoins.
1 million people worldwide have 20.7% of Bitcoins.
the rest is considered lost.
Bitcoin seems like a big Ponzi scheme.
Bitcoin or other cryptocurrencies: at the same level to acquire shares of a company on the Stock Exchange, or bonds of an African country or disreputable unit shares in a mutual high risk fund.
The mining of Bitcoins seem to be a fraud, like taking a hammer and smash with that hammer 1m2 (square meter) of your home to collect a compensation, but that will not be enough to repair the damage.

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