Loading ...The Bitcoin blockchain is so revolutionary that everyone wants to imitate it. Even central banks, because the true value of the blockchain is that it is an unhackable, non-centralized ledger of accounts. Multiple blockchains circulate and contantly cross-confirm transactions. It is immune to single-point failures.
Beware the imitation wannabees. And again I say… the weakness in the system is peripheral… at the exchanges where dollars change to bits. These guys are NOT the NYSE or NASDAQ exchanges. This is where the theft of value occurs.
I believe I wrote here some time back that BTC went into an Elliott wave #4 pullback which could go as low as $1900. Mission accomplished. We rise from here.
Since I had my bitcoin core software on the thumb drive disconnected for a long time…. months… it is now working on syncing itself with the network available blockchains. Essentially it has to recover all the transactions that occurred in the past few months, and continue to compute it’s own confirmation blockchain. The thumb drive is slow memory. And the CPU is generating a lot of heat, doing long chain calculations. It’s been working for days, and is roughly halfway done. That wait is the price I pay for the ultimate security of keeping it all offline until wanted/needed.
I think I will be looking to shake out some BTCs on the next rise above $3,000. But I wonder how high it will go.