Dollars and Hops

014 | Bitcoin - Time to Jump In?

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Episode 14: Bitcoin - Time to Jump In?

The guys discuss Bitcoin and Cryptocurrency. Should you be investing in bitcoin?  What you need to know to make smart decisions with cryptocurrency.

Headline of the week: Comcast to impose home internet data cap of 1.2 TB in more than a dozen US States next year 

Check www.highspeedinternet.com to see what other options you have for broadband in your area.

Websites mentioned during the podcast:

https://clark.com/credit/credit-freeze-and-thaw-guide/

Main Topic

As of this recording- Bitcoin has gone from 24k at Christmas to now almost 38k per coin.  Everyone is wanting in on the action…. But before you hop in - let’s talk about what it is.

What is bitcoin? - A cryptocurrency that was invented in 2008 by someone going by the name of Satoshi Nakamoto.

  • Decentralized digital currency where there is no central bank where the currency can be sent from user to user on a peer to peer platform.
  • Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain.
  • Bitcoins are created as a reward for a process known as mining.

    • Bitcoin’s Usefulness:

    • Bitcoin runs on blockchain technology.  This is a revolutionary technology that allows for a group of computers to independently verify millions of transactions.
    • The ledger is a very secure way to account for transactions as there are thousands of computers verifying transactions and verifying them.

      • Bitcoin as an investment

      • Everyone wants to know - should they be INVESTING in bitcoin?
      • Obviously it’s gone from 24k per coin to ~38k as of this recording.
      • Well - let’s think about what we just said - what is bitcoin?  It’s a type of currency - and not a normal type of currency - it’s a crypto currency.
      • Does Currency normally fluctuate in value this much?  No- when you go to buy a loaf of bread it’s pretty consistent in price.
      • Bitcoin is something that’s new - it’s exciting and SPECULATORS are driving the price of bitcoin higher.  While bitcoin has utility as a currency - it’s not really a true investment, or should not be seen as one.
      • Should you invest in bitcoin-  We would recommend not to as it has a lot of the signs of a bubble.

        • Dangers of bitcoin

        • No regulation
        • Fraud/Theft
        • No Tangible Valuation


          • Hops Showdown


          Scott:

          Brewery: Warwick Farm Brewing

          City: Jamison, PA

          Beer: Double Dry Hopped Expressions

          Type: Hazy IPA

          Score: 94


          Lance:

          Brewery:  Highland Brewing

          City:  Asheville, NC

          Beer:  Cold Mountain Spiced Winter Ale

          Type:  Winter Ale

          Score:  89

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