A look inside the world of ‘The Price Is Right’: The world’s best bargains
With the price of bitcoin hitting $US10,000 in the space of a few hours, there are plenty of people looking to find their next big purchase.
In a recent interview with VentureBeat, author and entrepreneur Cassia Bates spoke with Venture Beat about her upcoming book, The Price Is Wrong: The Secret History of Bitcoin.
As a former Bitcoin enthusiast, Bates said that she was curious to understand how Bitcoin has evolved since it was first created and that she wanted to see how it’s evolved over the years.
“I think bitcoin is a really cool thing to understand because we’ve never really understood it,” Bates said.
“We’ve been around for maybe five years and bitcoin is still a very small thing compared to the rest of the world, but people are still getting involved with it.”
So I wanted to know what happened to it, what is the current state of bitcoin, and why do people buy it?
I think a lot of the recent hacks have been due to the lack of people wanting to hold it.””
I’m actually surprised there haven’t been more bitcoin busts.
I think a lot of the recent hacks have been due to the lack of people wanting to hold it.”
Bates believes that bitcoin’s price is a reflection of the demand and acceptance of it.
“The most obvious thing is the fact that people are using it, it’s the biggest, most successful asset class ever,” Bates explained.
Bates said that there are many reasons why people use bitcoin, but she feels that it’s because it’s a “truly decentralized network”.
“Bitcoin has always been decentralized,” Bates added.
It’s basically a ledger of every transaction you’ve ever made.””
Bitcoin is a distributed ledger of transactions.
It’s basically a ledger of every transaction you’ve ever made.”
You can’t just run a Bitcoin server in a virtual machine and say, ‘OK, let’s start a new Bitcoin transaction’.
You have to run a full node on your local machine.
“But that means you have to get people to validate transactions, which is a whole different beast.”
People are going to buy bitcoin because it has this incredible amount of value and people are really looking for it.