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Bitcoin and cryptocurrencies

I first encountered bitcoin in 2009 when it was released. However, at the time, the only software was Bitcoin-Qt, the mining software, and it used up vast amounts of space and CPU cycles on my machine, so I deleted it.Every few years I did the same thing - tried it out, got irritated, deleted. Of course I now regret it because apart from the recent crash with the Chinese banning ICOs (basically the creation of new coins), it’s increased drastically.I went to a Singularity Summit conference and they were advocating Bitcoin and Blockchain as future technologies.So I thought I’d summarise my views here.1. I suggest it is worth buying into the system. It seems to me to be the correct “next step” of money and fintech.Look at it this way. Make three assumptions: (a) that all money will ultimately be based on the major crypto currencies. (b) that there’s a limited supply of cryptos. (c) that most working-age people will use them. From this you can calculate the rough maximum trading value of…

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