To The Moon

Bitcoin having well known in cryptocurrency world shattered since its all time high in Nov 2021 to now hovering around $19,800 at the time of this writing.

Ethereum also suffers the same catastrophe to now the present value of $1,500.

Does that means that its time to look into Bitcoin and blockchain Penny Stock to ‘spice up’ some action?

Do take note that investing on these companies does need some element of ‘strong heart’ to face the price volatility. Though some would argue that what’s the point of having cryptocurrency if such activities would not only huge investment but also some power consumption demand as well.

It’s estimated the global cryptocurrency mining market would reach $4.5 billion by 2026 Vs $ 4 billion in 2020, with CACR grow rate of 2.7% for next coming five years.

Mining Cryptocurrencies needs

• to complete a computation that creates a 64-digit hexadecimal number (hash) for that bitcoin that..
• goes into public ledger for anyone to confirm that transaction in order for that particular bitcoin to happened which means..
• computing power is required which means...
• multiple graphic cards which means…
• energy is needed… estimated one bitcoin transaction takes 1,449kWh to complete (roughly 50 days of power for average US household - Digiconomist's Bitcoin Energy Consumption Index.
• With average cost per kWh in US 10.42 cents, a bitcoin transactions generates approximately $151 energy bill.

Using so much energy is bad for the environment

• US alone account for 60% energy sources in fossil fuels terms
• Fossil fuels produces carbon dioxide
• Carbon dioxide absorb heat from the sun that creates greenhouse effect
• Wildly climate change is caused by greenhouse effect

Would you invest in cryptocurrencies or crypto miners companies?

What factors would determine you to invest on?

To what extend miners’ capacity in cryptocurrencies mining?

What major cryptocurrencies would you prefer?

Does the volatility excite or scare you?

@TigerStars @MillionaireTiger