Bitcoin and Blockchain
The excitement over bitcoin and blockchain is overblown. Blockchain may be a relatively secure way of storing information about transactions, but it is not cost-free. The electricity and computing power used to create blockchains is expensive. If you are tracking something that is very valuable, it may be worthwhile. but otherwise, the expense of creating the blockchain may it unreasonable to use blockchain. Several sources ( Morgan Stanley , CNBC ) say the breakeven point for mining Bitcoin is about %8,000 to $8,600. Currently, the price of Bitcoin would not cover the cost of mining it in most places in America. It may still be profitable in some places where electric power is really cheap. Another Bitcoin-friendly site puts the cost at just under $5,000. Where power is cheaper, the cost is much less; in Venezuela, it is only a little over $500. Blockchain works by creating codes that are hard to break. The co...