Don't confuse Bitcoin with blockchain technology. Blockchain technology is basically a ledger that it distributed between multiple machines - a bit like an accounting ledger - that keeps a track of every transaction undertaken. Each transaction is recorded, checked and verified by computers busy mining to find new currencies. Basically the currencies are mathematical formulas that have a known number of solutions. Excuse my gross oversimplification. Bitcoin is the most well known crypto-currency and has seen remarkable price increases. I got into it rather late, but have seen between 50-150% increases in my $US investment over the last 3 months, depending on whether it was last week, the week before or today. I thought about getting involved in it a few years back. If I had, I'd be buying into PGMUSIC etc now. Other less well-known crypto currencies are also making spectacular gains and losses. Some people hold on to their investment/speculation (Hodlers) and others day trade. I like to think of it as a bit like horse racing. You can do your research and at the moment my ponies are doing ok. Blockchain and the technologies surrounding it (often trying to make it work better and faster) have the potential to transform our world in a way similar to the Internet and the WEB. It's the Wild West out there, but it is also a force for libertarianism and change. It's easier in HK because we have no tax on shares etc, so I don't have to fear explaining my investments to the IRS like those in other places. My investment is small, so if I lose it all tomorrow, I'll chalk it up to a bit of fun. I started with about $400 US and lost half of it in the first month. That initial investment is now about $1000 US. Not bad for someone who started in September. I didn't panic when it went down and after learning how to trade and set up wallets etc, I put in more $US. It sure beats the status quo where I get no interest on money in the bank and my retirement pension generally goes down in value thanks to the banks who manage these funds in HK and in whom I am forced to use by my employers and the government. One bitcoin is currently $18033.11 US as I write. Imagine if you'd bought them this time last year when they were below $4,000 US!

Last edited by lambada; 01/06/18 02:48 AM.
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