Great analysis there tee-rex!

Truly, scarcity alone could not define value alone. In fact abundance at times defy the value of scarcity because of demand.

And yes, i also believe that utility is one of the best indicator of value. Though at times, popularity also sets value but utility can never be undermined.

That is why i always say that for bitcoin to retain value and grow it even more, utilize it, use it. Let bitcoin be an integral part of our daily purchases if possible. Let bitcoin be a system of payment within us and allow it to develop more utility to help increase its value.

Indeed, the immutability of the blockchain offers great advantage for the use case you cited.

I am just afraid that while it is a great advantage to have an append only data structure for patient's info, what happens when there exists a wrong diagnosis that is left out-dated? How does one go about it? When there is no central authority to over turn recorded data on the blockchain?

And since transparency is an innate attribute of the blockchain, what happens to doctor-patient privacy?

Perhaps i'll need to read more on this to actually realize how medical-related blockchain projects can take advantage of the innate offerings of blockchain.

It really depends where the answer is coming from.

Ask a technologist and you'll wonder what the heck is a blockchain? And what are algorithms that creates a trust-less transactions. And what the heck is decentralization and disruptive technologies? Sounds negative doesn't it?

Ask a trader and you end up with eyes rolling on what are FOMO? And what the heck is a HODL? Say what? ATH? Perhaps the easiest to digest would be buy low, sell high.

I'd say, if you really want to understand what bitcoin is, ask a consumer. What are the products and services that you can use bitcoin for as a payment. I'm sure they can help you setup your bitcoin wallet without much ado and will simply tell you that 2FA is a more secured means of protecting your access. No frills. No qualms. Just pure bitcoin in action.

So be careful who you ask. #winks

It's nearly the same for most countries, bitcoin is perceived to be a scam.

Mainly because the only newsfeed the general masses usually receives from the tube revolves around the same aspect. And if by chance they do try to explain what bitcoin is, people are left with mouths gape open wondering what they just heard.

It's really exhausting trying to make people understand what bitcoin is and more so to convince them that it is not a scam. Sadly, a lot of people are still taking advantage of the hype that bitcoin produced deterring the image of cryptocurrencies more and more.

I think it is not bad comments that shakes the confidence of newbies, it is the lack of knowledge that causes their trust to wane.

You see, as much as we wanted to boost their confidence and trust, the newbies are actually accountable and responsible for their decisions. We can and we should not force them to invest or trust in bitcoin, not a single flinch should be directed towards that goal.

The least we could do is help them build enough knowledge for them to determine whether they want to engage with bitcoin or not. Do not be dismayed seeing fud or negative feedbacks, it actually helps. Remember that there is definitely something wrong with a service or product if it gets all praise alone.

Hey there! Lambasting all altcoins as shitcoins would not really help you know. Truly, there's a lot of altcoins out there that tainted the reputation of altcoins red but it is never right to call all of them shitcoins.

I understand your concern for investment and it is nice to know that you have some tips to share yet i do believe that it would be more of a help should we state our findings in a well mannered way. A bit of decency to drive home the nail will never hurt.

As of the moment, cryptocurrency had already started to prove its worth as a system of payment and it satisfies many.

And i'd say the researchers back at Imperial College London is on track. And with news left and right of government's concern and may other people pushing bitcoin to be recognized as a store of value, i think we can expect bitcoin to be mainstream in less than 10 years into the future.

The only thing we would be needing is for the government to back bitcoin and other cryptocurrency as a recognized currency. What compromises cryptocurrency has to be made is unclear, but definitely there will be some major changes in the founding ideals when this happens.

Either used properly or scam intentional, social media does affect the cryptocurrency market in many ways. There is this great impact that social media brings to the flock of investors mainly because it is quite available and the visibility is fluid.

Social media has been a part of our daily lives. Some even merely rely on their social news feeds for their daily dose of news. And at times, whether true or  not, this news feeds are taken as is.

What more, the factual basis of a news has been based on the number of shares, likes and views which had the tendency to create a widespread sense of truth. Sadly, a lot of people out there takes advantage of this and cashin on the benefits which taints the strength of social media influence.

Bitcoin started to be considered or presumed digital gold merely because of two things, value and scarcity, just like gold.

Perhaps it was from this point of view that people started claiming that we have found a digital gold in this era. With bitcoin capped at 21 million using a mining technique to unearth it, people started thinking how similar it was with gold. And that concept was even pushed further more as the price of bitcoin surpassed any economical expectation and made it so valuable. It was nearly the same experience when people learned that gold was deemed valuable. Those who hold pieces of gold became rich instantly.

You are right that bitcoin is meant to be a piece of tech for payments, but should it prove to be a store of value then perhaps our era did stumble upon a digital gold.

Point well taken there, and we can not shy away from the truth that bitcoin does consume a lot of electricity.

But as others said, i doubt bitcoin's carbon footprint is more than the consumption of all banks globally put together. You see, it became easy to declare the consumption of electricity for bitcoin because the nodes are all visible. Whereas it would be difficult to calculate the same for all the banks.  And i am merely basing this comparison against the banks because it is the sector that bitcoin is up against.

Besides, imagine how many trees bitcoin saved as it never needed any printed material to denote its value unlike the endless printing of fiat currencies.

The problem with technology is that there is really no telling which one is to stay and which one is to go.

Use cases are not always the basis. Even the most utilized technologies saw the dawn and rested such as internet explorer which premiered our browsing experience and was the most trustworthy of them all that even influenced the way we wrote HTML and the olden "for better view" suggested resolution. Yet, it cease to exist.

And how about the revolutionary Yahoo Messenger that connected the whole world and allowed people not only to chat but to video chat. It was so cool and purposeful. It brought us services that we only thought possible in the movies or for rich people. But it waged a rally to make it available to all, no categories, no discrimination. But that freedom had to halt as we all bid goodbye to yahoo messenger this year.

So there's really no telling. But one thing is for sure, if ever bitcoin is to take an exit, there will be a new cryptocurrency to take its place.

I think there's a bit of exaggeration on your discussion table when you nearly had to pay a 100 times more of what you borrowed. That is bad financing so to say. It takes away the apple as it immediately kills the convo.

Yet, let us say that what you cited is the absolute truth, the answer will then be simple, what is your personal priority?

You see if the house is your top priority, then go for it. It is that sense of prioritization that will push to work really hard to pay for the house no matter how injustice you felt has been dealt upon you.

Without a driving notion, you are set to fail big time. You see, even if you pour in your money to crypto investment and your heart is not set on it, i'm sure there will be ugly setbacks and constant feeling of remorse.

Best of luck. And btw, all  i ever wanted was a simple house decent enough to shelter my family, nothing fancy.

Ultimately, the day will come when the last bitcoin will be unearthed (estimated as 2040) and when that happens, miners won't get anymore rewards.

That's where the transaction fees kick in to be rewarding for miners. And this is part of Satoshi's design knowing that miners deserve to be rewarded for being an integral part of the system. So i guess there will be no reducing of transaction fees now or in the future. Besides, it is already cheaper than our usual fiat or bank transaction fees (not bad right?).

I don't think apple nor google is set to adopt with cryptocurrency payment as of the moment.

In fact, just last June, apple became more strict in requirements against crypto based app publications (more specially with Initial Coin Offering related apps).  I am not telling that these guys are against cryptocurrency but looking at how they dominate the market, i'm guessing that they already have future plans to release their own cryptocurrency just like the news that facebook will be launching their own in the near future.

But for sure, these techgiants will adopt one way or another some time in the future.

Among the biggest misconception about cryptocurrency is that we don't need it and usage is optional.

If altcoins are alternative-to-bitcoin, bitcoin is misunderstood as alternative-to-fiat currency.  But they are not. Cryptocurrency is a league of their own.

With it comes revolutionary financial approaches and a new state of economical responses. The way we viewed large scale payments were challenged by cryptocurrency in such a way that it became possible to transact without any intermediary and yet, the security remains. In fact, honesty became an integral part of the cryptocurrency payment system as honest peers overthrow malicious attempts to erode the transaction. Unlike the traditional means where greater authority ensembles greater trust. We do not need that great authority anymore, only honest peers and we'll be fine.

Great blog article here from IMF. Thank you for sharing.

It is really good to see that a global financial institution such as IMF has took notice of how potent cryptocurrency can be, both in risk and for the betterment of financial transactions.

And i do believe, that many financial institution, and even government controlled banks will be adopting to digital cash in ways we could never have imagined. There will indeed be trade offs just for them to continue to see the light of day and not be left out of the digital revolution.

I don't see anything wrong with that should bitcoin be regulated. It's not really a threat per se.

Though it does feel that it somehow violates the primal design of bitcoin, i do believe that perhaps regulation will do good. With so much scam and negative feedbacks circulating around,  a regulation might help promote trust and confidence among investors.

Perhaps that is why there's a push for bitcoin etf. Perhaps being regulated by a governing authority in the financial industry will give it a much needed boost for stability.

But that will soon change. As Venezuela pushes for petro (the oil backed cryptocurrency powered by Ethereum), it will soon squash cryptocurrency competition which perhaps will include bitcoin.

As Venezuela tries to put stability back in its financial crisis laiden country, they are promoting the first fiat cryptocurrency and the only way it could be successful is for them to block all other cryptocurrency activity in the region. Only petros will be in circulation. Though the move actually impairs the freedom bitcoin rallied for every cryptocurrency born, it seems there is really no other way for them.

There will be a lot of revolutionary changes once petros takes place in Venezuela.

Partly it did already.  Many of us have been choosing bitcoin transfers instead of the traditional means of sending  funds/money through the banks.

There already exist establishments that accepts bitcoin as a direct payment. Online merchants are out there too. Even the simplest phone top up can be made with bitcoin and even paying your utility bills. All done in the comfort of your home and at times using our mobile phones only.

I'd say be here for the long run! Be an integral part of the bitcoin market monty, if you do believe in the benefits of bitcoin.

We need more people moving in the market should we wish bitcoin to rise again. Thinking of pulling out will not really help. Remember that bitcoin banks on utilization, without which, it becomes nothing. I know that you see bitcoin as an investment, think of moving your asset through trade or purchases as part of your investor responsibilities.

That way you are able to promote and help grow the market.