Beardie Branson backs Blockchain's Bitcoin bandwagon British business beardie Richard Branson has invested in Blockchain. Not the Bitcoin ledger, but a custom Bitcoin wallet that functions through an iOS app. The blockchain, in Bitcoin terms, is the master ledger of all Bitcoin transactions. For all the brouhaha about Bitcoin being anonymous, the blockchain is downloaded – and …
... if when all the bitcoins are "created" in however many decades that will be, whether the value will collapse because its now almost useless as a currency, or , whether it will acrue in value because it will be seen as a rare resource like gold.
Of course that all depends on something even more cryptic and sophisticated that catches the eye of millenials, paranoids and criminals not coming along in the meantime.
Why does paying your bill for Dish in bitcoins mean it isn't a fad? All it means is that Dish is capitalizing on the fad. They use services that immediately convert the bitcoins to cash, so they aren't keeping and re-spending the bitcoins. If major US companies were doing that, then you might have cause to think it wasn't a fad.
I always use Dish as the benchmark. When they first introduced PoS electronic payments I knew my Barclaycard was here to stay. Likewise when they started using the internet, that's when I gave in and got tubes connected to my house.
When Dish has flying cars I'll know the future has arrived. Until then it's a fad.
If you have an infinitely divisible bitcoin and if I have an infinitely divisible bitcoin, then at least one of us got screwed. There never was any HONEST reason to create more than one bitcoin. If you guys ever did your math homework then you would know that you cannot define something as having the infinitely divisible property of mathematics and then also make it go anywhere by multiplying it 21 million times.
More Kool Aid, anyone?
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