When bitcoin was first proposed, I argued that the proposed algorithm failed to scale. Well, when getting started, scaling does not matter. Now, however, a bitcoin wallet is starting to cost substantial bandwidth and processing power. There are plans to address this, but I am underwhelmed by those plans. The proposed plans will make bitcoin more centralized, and will still have scaling issues. Seems to me that we need an algorithm …
Tag: cryptocurrency
Bitcoin as a speculative bet
Charting bitcoin, it looks good, if you are inclined to gamble on charts. The recent collapse from two hundred dollars tested support at the hundred dollar mark, found plenty of support around there. By and large, it is a good idea to buy at major support levels, since a speculative property is a lot more likely to go up than to break through the support level.  If it did not …