What`s the difference between [ mining ] & [ buying or purchasing ] bitcoin or any other coin?
took me sometime to know the meaning short answer is producing new bitcoin through secure transactions since its using blockchain technology, that is being done through software and hardware to search hash numbers and generate the transaction
and speaking about security :-
There have been widely publicized frauds, scams, and hacks which have plagued individual investors and even major cryptocurrency exchanges in their short history. Part of the issue is simply that the technology and the space itself are new. While this makes cryptocurrencies like bitcoin incredibly exciting--and potentially very profitable--investments, it also means that there are those looking to capitalize on security holes before they are corrected.
A bitcoin itself IS scarce, there are only 21 million units, you can't create more, so it's a coin, it fills all the requirements.
You are saying that based on the technology itself it will collapse, but until now you only pointed the blockchain size and the energy consumption problem, i don't think that's valid, because even physical coins do require energy to transport and maintain, money to pay people, etc. The blockchain size also is not a problem there are a lot of new concepts available for these problems.
And if you are so right, why the price is going up two months straight? You are the only smart guy and everyone else is stupid?
To see everything that's problematic with bitcoin, check this article
I agree on the principal but bitcoin is not real, its virtual and technology is giving it the hype
i would only listen to Clem Chambers about it, all his speculations came true during the last 12 months, he was able to predict prices weeks ahead and the next move as well
Who is Clem Chambers?
The beginning of the end is approaching, since many central banks and goverments are taking measures against it.