Social Media Sidebar

Announcement

Please sign up, comment on articles and bring your friends!

Current poll

PlanetTech is asking:

What do you think about our new web site?

Love it, indeed
Really good solution
Same as old one
The old one was better
This is a new option

Quote of the day

When seen through the lens of technology, few resources are truly scarce; they’re mainly inaccessible. 

 

Peter Diamandis

Bitcoin Rose More Than 1,300 Percent This Year. Is This a Bubble?

RATE THIS! +23
Posted in Business on 30th Nov, 2017 12:36 PM by Alex Muller

Bitcoin is continuing to break records as we near the end of 2017. At the time of writing, its price is $10,726.45, up a whopping 1,345 percent from its value as of this time last year, $742.01. It broke the $10,000 barrier on November 28, becoming one of the world’s 30 largest currencies of any kind.

 

Its value then rose by another $1,000 in just one day, before dropping back down again as the market responded.

 
Bitcoin certainly seems to be on the up-and-up, and in recent months we’ve seen various analysts backtrack on earlier predictions that the currency would have already faltered. That being said, there’s still ample reason to exercise caution when it comes to buying in.
 
For the moment, it seems to be a great time to be a Bitcoin investor. However, the future of the cryptocurrency is still mired in uncertainty. The cryptocurrency’s rise has been marked with calls for more regulation, predictions of its failure, and even hacking scandals, leaving some wondering if the Bitcoin bubble is threatening to burst.
 
A recent report indicated another new issue: that the average amount of electricity used to mine Bitcoin surpassed the usage of over 150 countries. This is something that must be addressed as the coin becomes increasingly popular, as the energy used is essentially wasted.
 
The environmental aspect of Bitcoin mining may come into play as international governments seek to regulate the cryptocurrency. In Australia, there has already been talk of the country’s reserve bank adopting the coin officially, and there are reportedly plans to submit a bill to the US congress that would help protect investor’s rights.
 
This is to say nothing of the technological threats to the coin – the computing power of quantum systems could cause major problems for blockchain in its current form.
 
Bitcoin’s value is on the rise and shows no signs of stopping, but it’s difficult to predict what the future holds.

Tags: bitcoinsoftwareblockchainonlineEthereum

Read original article » Back to category

Comments



 

Recent headlines

  • Posted in Online on 2017-12-15 13:43:41
    The FCC votes to repeal the 2015 net neutrality rules..read more
    Posted in Science on 2017-12-15 13:34:37
    How Clinical Trials Are Making the Case for MDMA in.....read more
    Posted in Business on 2017-12-15 13:23:01
    Elon Musk: We Should Already Have a Lunar Base by Now..read more
    Posted in Business on 2017-12-14 01:48:06
    World Bank to stop financing oil, gas projects from 2019..read more
    Posted in Medicine on 2017-12-13 21:23:13
    Marijuana May Help HIV Patients Keep Mental Stamina Longer..read more
Posted in Business on 2013-10-10 01:33
China is working towards a manned lunar mission in about.....read more
Posted in Business on 2013-10-20 07:17
Spacex says China is their main competitor for commercial.....read more
Posted in Software on 2013-10-20 06:43
Pirate Bay Browser Clocks 1,000,000 Downloads..read more
Posted in Medicine on 2013-10-10 02:10
Google reportedly investing hundreds of millions into new.....read more
Posted in Medicine on 2013-10-14 03:13
Endothelial Cells Can Repair and Regenerate Organs,.....read more
Posted in Science on 01.01.2010
Spacex says China is their main competitor for commercial.....read more
Posted in Science on 01.01.2010
Staring at Your Phone Could Be Making You Short Sighted..read more
Posted in Science on 01.01.2010
Oculus Rift virtual reality headset coming to mobile, but.....read more
Posted in Science on 01.01.2010
China is working towards a manned lunar mission in about.....read more
Posted in Science on 01.01.2010
Delivering drugs via nanoparticles to target mitochondria..read more

Recent Blog Posts

  • Posted by AlexMuller
    Martian landscapes formed from sand 'levitating' on a little.....read more
    Posted by AlexMuller
    Scientists detect comets outside our solar system..read more
    Posted by AlexMuller
    Advanced artificial limbs mapped in the brain..read more
    Posted by AlexMuller
    Bacteria have a sense of touch..read more
    Posted by AlexMuller
    Recurrent brain cancer: New hope with phase 1 clinical trial.....read more

Login to your Account

Login to your PlanetTech Account here

Username:
Password:
Remember me
or

Create a New Account

You just need username and password

The following errors occured:
Username:
Email:
Password:
Verify password:
Remember me