Thursday, January 18, 2018

Bitcoin's Cracks of Volatility Beginning to Show: Buckle Up, the Ride Has Only Started

Finally the volatility and wild swings (yes even downward) are happening.

No doubt, some upward swings to follow and the "I told you so crowd" will have their moment.  Only to be hit negatively again.

On another note, I was enlightened a little more yesterday by a long term friend as to what "mining" is, as it relates to crypto currencies and how this is performed.  Or, from what I understand, "rewarded" for providing the infrastructure and, most importanly, the power to perform the gazillion of calculations needed to build blocks of the block chain, ledgers, verify transactions, etc. (did I use the right terminology in that last sentence?).

Also combined with an article in the Financial Post that jurisdictions of cheap power (Ontario and the provincial Liberals, this is NOT you!), are expected to be the hubs of this infrastructure driven technology. Hello crypto-BC, crypto-Manitoba, crypto-Quebec!

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