It was never meant to be xxx parody moviesthis way.
With the price of Bitcoin skyrocketing by the hour, it's either time to buy buy buyor step back a moment and ask ourselves just exactly how Bitcoin went from a proposed digital currency to an increasingly popular investment opportunity — and what that says about its future. As this is a blog post and not the internal dialogue of a cryptocurrency trader, we're going to go with the second option.
SEE ALSO: This was Bitcoin's big year, but where does it go from here?Launched in 2009 by a still unknown person (or persons) under the pseudonym of Satoshi Nakamoto, Bitcoin offered a decentralized currency that removed any sort of central authority from the mix. This, of course, is a fascinating idea — and over the following few years news outlets reported on it with a mixture of confusion and befuddled amusement (if they covered it at all).
But that didn't stop Bitcoin or its adherents. In 2010, a Florida programmer made what is generally considered the first transaction paying with Bitcoin — 10,000 BTC for two pizzas — and the dream of a digital currency was one step closer to reality.
But, wait — you're surely asking yourself right now — 10,000 Bitcoin for a pizza?And you'd be right to be incredulous. At today's BTC prices, the cost of that pizza comes out to $170,999,950, although that value changes hourly.
This Tweet is currently unavailable. It might be loading or has been removed.
That hourly change — with Bitcoin shooting up in value thousands of dollars today alone — is great for investors holding their BTC to sell at a later date, but not so good for anyone trying to use it to, actually, you know, buy something. This extremely volatile state, combined with high transaction fees, even led one major company to cease accepting Bitcoin as a form of payment on Dec. 6.
"In the past few months we've seen an increase in the volatility in the value of Bitcoin and a significant increase in the fees to process transactions on the Bitcoin network," the company, Steam, explained in a blog post. "For example, transaction fees that are charged to the customer by the Bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week (compared to roughly $0.20 when we initially enabled Bitcoin)."
Other companies may soon follow, with the future of actually using Bitcoin perhaps best represented by a joke made by security researcher Marcus Hutchins.
This Tweet is currently unavailable. It might be loading or has been removed.
When he tweeted that, on Nov. 26, a single Bitcoin was worth around $9,298. At the time of this writing, it's trading at $17,457 on Coinbase.
And it's not just the lost potential gains of spent Bitcoin that makes its practical use as an actual currency dubious. The aforementioned network fees themselves are pretty ridiculous. In order to process a transaction yesterday, a person would have needed to fork over around $7.34 — plus whatever fee the exchange charged.
Buying a beer with BTC doesn't make much sense when the fees are higher than the cost of the drink.
So, is Bitcoin doomed? Hardly. While no one knows exactly what the future holds, BTC looks like it's here to stay in some form or another. Is that as a decentralized digital currency, or merely an investment opportunity? Today's volatility perhaps provides a hint. In the end, Bitcoin may end up being too hot for its own good.
Topics Bitcoin Cryptocurrency
The best day to book your flight, according to Google
Lyft's 'anti
Lenovo's Smart Frame puts your digital photos on display without ruining your feng shui
In Toyota's future city prototype, autonomous vehicles rule the streets
Mary Shows Up
Stator's big
Hyundai reveals flying taxis for Uber Air
Amazon's Alexa will do your bidding from a Lamborghini sports car
Best Hydro Flask deal: Save $10 on a 24
Facebook revamps 'privacy checkup' to help manage data settings
Astronomers saw one galaxy impale another. The damage was an eye
Arnold Schwarzenegger slams Donald Trump in 40 second Twitter rant
It's OK to cancel plans. This meme says so.
Byton adds voice AI to its massive screen dashboard
Against Fear
Dell's flexible display concept hints at a bendy laptop future
Big Bird flies into your stories with Sesame Street's first Snapchat filter
What we really want to see at CES 2020
How to Squeeze the Most Out of Your iPhone's Battery
Sonos sues Google for allegedly stealing patented tech
Ryan Reynolds' tweet about auditioning at Marvel is classic Ryan ReynoldsThe ultimate guide to rimming Boris Johnson will need some ice to recover from this woman's ruthless burnThis Italian translator can't believe her ears translating TrumpGuy's sleep recorder app picks up sounds worse than ghostsApple's new MacBook Pro laptops are probably coming very soonDiscord buys Gas, the app for complimentsRihanna strutting in slow motion while smoking a joint is a sight to beholdResearchers make ChatGPT generate malware codeChemistry Nobel awarded to developers of lithium'Quordle' today: See each 'Quordle' answer and hints for January 20Wikipedia's new look is not popular, but that's to be expectedWhat is a vibe check anyway?Was that video propaganda? TikTok is trying to help, kind of.There's a Pornhub for everything in this new rhyming memeJennifer Coolidge just joined TikTok in the best possible wayEvan Spiegel was asked about wife Miranda Kerr's EMF beliefs and it got so awkward12 meme costume ideas for Halloween 2019Jennifer Coolidge just joined TikTok in the best possible way15 British TV shows we're excited about in 2023 New cookie dough shop opens in NYC to be your best friend YouTuber Markiplier raises over $100,000 for LGBTQ advocacy group in 1 day China will make it rain over an area 1.7 times the size of France Ewan McGregor and Piers Morgan feud on Twitter over Women's March Nick Cannon's dancehall drama is heading to YouTube Red Cards Against Humanity has one specific requirement for their new CEO: Be Barack Obama UK regulator: White male bank culture is ‘difficult to take' Constance Wu calls out Casey Affleck's Oscar nomination YouTube is removing North Korean content and no one knows why Britney Spears finally makes her Snapchat debut People are dragging a politician for not knowing where to get toilet paper at night New patent hints at a customizable Apple Watch The woman in the iconic Shepard Fairey poster was at the Women's March Bollywood superstar Shah Rukh Khan's 'Raees by Rail' derails as fan dies in stampede Samsung Galaxy S8 will reportedly launch in April, and LG G6 will suffer for it Check out all the new 'Overwatch' Year of the Rooster hero skins Giant wolf When it comes to the full English breakfast, bacon is queen Spanish version of WhiteHouse.gov goes dark in Trump's America The State of Self
2.0017s , 10131.3671875 kb
Copyright © 2025 Powered by 【xxx parody movies】,Fresh Information Network