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"Bitcoin is the sixth most valuable currency in the world, and achieved this in eight years of existence, despite (or more likely due to) having zero government backing. It is the biggest story in finance today." https://mstdn.io/media/krmMPRl-BRN1qxVGyvA
@angristan Yeah, but it still is a risky investment. Not much for technical or economic reasons, but mostly for political ones.
Governments that are losing global economic advantage will be looking for scapegoats and bitcoin will likely be one. All it takes to weaken a currency is loss of faith, which is readily achievable by political means. It is easy to paint something as the bad guy when most of the population doesn't know how it works.
@angristan https://powercompare.co.uk/bitcoin/
"In the past month alone, Bitcoin mining electricity consumption is estimated to have increased by 29.98%
If it keeps increasing at this rate, Bitcoin mining will consume all the world’s electricity by February 2020."
With an exponential increase in users/transactions, I'm beginning to worry about the technical viability as well. (If this report is accurate and not just propaganda by the establishment, of course)