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Subject:  Re: OT-Bitcoin Date:  4/12/2018  6:41 AM
Author:  DoesMIWork Number:  270362 of 279138

"...The main uses for Bitcoin now seem to be speculation..."

Didn't railroads, cars, internet start the same way too? Discovery of the New World- East India Company- same way. Lots of speculators.

From IBD about blockchain, the

"Could it be a bigger disrupter than the internet?" Read it for yourself. Why would so many companies invest in it, if the technology is useless?

In short,

1) Bitcoin is based on blockchain.
2) It is decentralized. This is critical. If only one company, such as Chase, owned the blockchain, then it can be hacked- Home Depot, Yahoo, Best Buy, Target, the US elections- all hackable. It's like the internet. There is no one place where you can shut it down. Not all cryptos are decentralized.
3) Because it takes lots of energy to maintain the blockchain, it costs a lot of money. This comes in the form of a token, such as Bitcoin. If the token is worthless, then no one will maintain the integrity of the blockchain.

There are lots of cryptos with more technology than Bitcoin. However, it comes with a cost- security.

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