A world of volatility and speculation
This morning hash rates, degrees of difficulty and the creating of derivatives to moderate the risk of Bitcoin mining drew me in. Several years ago I was asked to participate in a fireside chat on Crypto-currencies at the Federal Reserve in Atlanta.
Blockchain A FireSide Chat
One of my concerns then and still today is the exponential growth in the cost of mining. These charts offer a perspective on a concept called the Hash Rate, a measure of the work necessary to create a block.
Clearly, as time marches forward, the work to earn the reward gets harder. Thus creating a need to increase the fees charged to add a transaction within a block to the chain.
When people speak to the justification of Bitcoin they would speak to the reduction in cost. Is this statement still valid?
Disruption, lies, and politics
While considering the potential of Bitcoin; the working of our government rambles on, as we consider the fate of the American President. Lies, bribes, abuse, and obstruction seems to be the order of the day.
The division between political parties; drives division within families, cities, and two people sitting together over lunch creates animosity.
We are now a world driven to speculate or better said gamble while not wanting to find a gentle and graceful road to mutual satisfaction.
We need to reflect consider and potential restore faith in what is real, what is just and what is fair for all.
Spending money on machines of war instead of investing in education and our environment makes no sense to this lone individual. We need to once again seek peace and justice.