-- Published: Thursday, 1 June 2017 | Print | Disqus
By Steve St. Angelo, SRSrocco Report
After the crypto-currency, Ripple, fell 12% yesterday, it surged over 20% in trading today. Folks, it’s the Wild West out there in crypto-currency land. I have been spending some time looking into these crypto-currencies because there seems to be a great deal of mystery behind them. And I like looking into and solving mysteries.
Of course, the rapid increase in price has sparked some interest, but very few realize just how much energy and capital it takes to produce one Bitcoin today. Actually, I was quite surprised.
I want my readers to know that I will be doing some research and writing some articles and Reports on these crypto-currencies (along with Gold & Silver) as I believe we are going to be seeing a lot more about them as well as rising interest in the markets going forward.
That being said, there is a lot of misinformation being spread around the alternative media about these cyrpto-currencies.
First…. these crypto-currencies are much different than gold and silver. I know that. I don’t need any of my readers to leave a comment making sure I know that. LOL… I do.
Second… there is a lot of mystery behind these crypto-currencies in which the public has no clue. So, I see a lot of opinions being made (negative & positive) due to a lack of knowledge or prejudice.
Third…. there is a good chance that these crypto-currencies will continue to gain more interest and market trading as time goes by. However, it is the WILD WEST out there and a lot of people are likely going to lose a lot of money trading or investing in these crypto-currencies because they have no idea of what the living hades they are doing.
Lastly…. my interest in learning more about these crypto-currencies is to understand how they are functioning in the market and as a psuedo store of “Electronic Economic Value”, if there is such a thing. Again, Bitcoin mining and transactions are consuming one hell of a lot of electricity. We are talking TeraWatts.
Thus, Bitcoin mining is consuming an ever-increasing amount of electricity. Thus, the cost to produce Bitcoin will continue to increase going forward… as it has in the past. Whether that means a Bitcoin does hold some value, is another thing entirely… but again, I had no idea of the massive amount of electricity and capital expenditures it takes just to produce one Bitcoin.
I will be doing more research on this subject and how it pertains to Gold & Silver going forward.
Check back for new articles and updates at the SRSrocco Report.
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-- Published: Thursday, 1 June 2017 | E-Mail | Print | Source: GoldSeek.com