Saturday November 11, 2017
Total BTC mined: 0.32858785
Total BTC mined USD: $2063.91 (based on today’s current exchange rate)
Total Spent: $1891.50
Remaining to break even: $0.00
The bull market has temporarily come to a complete stop as the pre Segwit2x price run up collapsed following news the fork had been canceled with no timetable as to when discussions over the Bitcoin expansion will resume.
I think everyone saw this coming from a mile away but there are some people complaining they bought in at $7000-7500 and now they’re looking at a loss. Don’t fret though, the amount of speculating and the impending launch of a futures market will make sure the currency bursts through $10k within the coming months.
Of course the reality is that Bitcoin isn’t worth anywhere near its current price. Not that I have a magic 8 ball but the problem is that you have a virtual asset that’s woefully inefficient as a transaction engine and is environmentally destructive. I’m happy to have profited and made a few extra dollars I didn’t have but the more I read of Bitcoin and the more I see the underpinnings of what it actually is, the less I like it each day.
Not only is it fundamentally way overvalued, the rush to get Bitcoin has created a veritable scam industry of ICOs and investment Ponzi schemes swallowing up legitimate wealth at the expense of a vulnerable public eager to avoid missing a sure thing.
But money, right?
Today’s picture comes to us from gnuckx