3/18/2023 0 Comments Bitcoin expert crazy hairIt’s secure - Bitcoin rarely goes “offline” because the ongoing ledger that tracks payments is shared by everyone.Metcalfe’s Law - This is where a network grows exponentially, rather than linearly, as more people join it. First mover advantage - Bitcoin is being rewarded for being at the forefront of digital currency.“Growing demand, with a finite or decreasing supply is applying upward pressure on the price,” said Adam White, vice president of the San Francisco-based Coinbase (think of it as a Charles Schwab for users to buy and sell bitcoin and other digital currencies in exchange for their money).Īlso Read: Cyber Attack Takes Down English National Health Service Using Stolen NSA Toolīut there are a myriad of digital currencies to choose from, so why would speculators flock to bitcoin? This is accelerated by the supply of bitcoin slowly rising toward its 21-million unit limit. The rally has been spurred on, at least in part, by the recent global cyber attack dubbed “WannaCry,” with hackers demanding their $300 ransom in bitcoin.īut one bitcoin expert attributes the currency’s run to a “positive feedback loop,” where members of the press (like me) cover the price surges, and more investors flood the market as a result. Bitcoin - the digital “cryptocurrency,” popular online for its anonymity - has been on a massive run, with the price of a single bitcoin jumping by more than 40 percent in the past 10 days to nearly $2,400.
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