Bitcoin in 2014

Moderator: kyletorpey

Bitcoin in 2014

by prats » Thu Apr 17, 2014 11:35 am

Is there any real difference between quantitative easing and Bitcoin mining? Does Bitcoin mining provide any real value to anyone to justify its convertibility to real world currency?
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Joined: Wed Apr 16, 2014 5:21 am

Re: Bitcoin in 2014

by kyletorpey » Fri May 23, 2014 11:44 pm

As of right now, the Bitcoin mining process is still generally agreed to be the best solution for a decentralized transaction ledger. Although there are other possible solutions out there, such as proof of stake, whether or not those solutions can actually work over the long term is still up for debate. The Bitcoin mining process is needed to secure the entire Bitcoin blockchain, so it definitely serves a purpose to humanity. Some say that this mining process is a waste of energy, but it probably actually saves energy when compared to the current monetary and banking system.
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