Swenani wrote:Museveni wrote:Swenani wrote:Ryko wrote:winmak wrote:http://www.businessdailyafrica.com/news/Bitcoin-falls-almost-20pc-from-recent-peak-week-low/539546-4236002-143arliz/index.html
And the fall begins
@McAfee is not an authority on anything taking into consideration his past investment decisions.
Below is his argument as to why bitcoin is not a fraud and why it has value
Quote:“You called bitcoin a fraud,” McAfee told CNBC. “I’m a bitcoin miner. We create bitcoins. It costs over $1,000 per coin to create a bitcoin. What does it cost to create a U.S. dollar? Which one is the fraud? Because it costs whatever the paper costs, but it costs me and other miners over $1,000 per coin. It’s called proof of work.
The fall?
LoL
Once the masses adopted Bitcoin you should've rushed in.
The only remaining step is the mainstreaming of exchanges to be able to convert Bitcoins to cash and vice versa easily.
Once that happens, of course it will at some point, the price soars again and many will wish they got in now.
That is called HOPE M7
Traders an those getting in without understanding the core concepts of each alt coin will always be at a loss. Buying the hype on the crests and panic selling on the dips.
The ride is always very bumpy and only true HODLers have fun.
The only regret is not getting into mining way back at the start of the thread
Live and learn; and don’t forget, nothing ventured, nothing gained.