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Bitcoin or black gold?

It takes a lot of computing power to mine a Bitcoin, but what is the real cost in dollar terms and how might that be arbitraged against the cost of a barrel of crude oil? Well, the best estimate of the electrical cost of a Bitcoin is $400 minimum. A dozen or so Bitcoins are mined every minute - that’s 1,400 per day, and there will never be more than 21 million allowed. The price of Bitcoin has risen astronomically over the past couple of years, so the electrical cost is more and more worthwhile.  If you decide to go...

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People underestimating the power of Bitcoin says Thiel

When someone like Peter Thiel says positive things about Bitcoin and thinks more people should seriously consider it as a valuable commodity, then it is worth listening! Speaking in Riyadh, Saudi Arabia where he was attending a Future Investment conference, Thiel spoke about Bitcoin and the high-esteem he appears to hold it in. Bitcoin could end up like gold  One of the most startling points made by Thiel in his speech was the comparison of Bitcoin to the classic safe-haven commodity, Gold. He likened the cryptocurrency to Gold as it is a reserve form of money in a similar way....

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Cities where you can buy property with Bitcoin

As the headline grabbing name in the cryptocurrency world, Bitcoin is one digital currency that continues to break new ground. The high level of security it gives along with the anonymity some people like means it provides real-world solutions for a number of sectors. One of the largest markets to use Bitcoin is the property sector - some cities are now accepting Bitcoin as a form of payment as opposed to traditional money. We take a look at some of the cities blazing a trend in using Bitcoin for property deals: Miami Although you may not realise it, Miami, Florida...

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Bitcoin splitting into two?

The latest news around the most popular cryptocurrency Bitcoin is its proposed split in two when block 491,407 is reached. A decision to take this hard fork with Bitcoin has been reached by those within the industry who have become concerned with how involved major corporations have become with standard Bitcoin. This follows on from the last Bitcoin split, which created Bitcoin cash. What is a hard fork and why is it needed? When the cryptocurrency sector refers to a hard fork, it is talking about significant changes to a digital currency's underlying code that results in changes such as...

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Bitcoin leaving other digital currency for dust

With the upcoming split of Bitcoin, the cryptocurrency market is entering into a period of uncertainty. The net effect of this doubt is that the value of other digital currencies has crashed while Bitcoin continues to soar. The hard fork that many are forecasting when Bitcoin does split again has really got a lot of investors fearing the worst, which has pushed Bitcoin levels higher. Why has Bitcoin risen on this market uncertainty? Bitcoin is undoubtedly seen as the safe-haven currency in the digital arena. When there are times of doubt in the markets, then investors will take money out...

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