Has Bitcoin become boring?

Bitcoin Network Capacity
The Bitcoin network capacity is 67.7PH/s this week and was 63.5PH/s. The past three weeks have hardly made any increase in mining hardware. This marks an increase of 106% in three weeks.


Bitcoin Market Capitalization
The Bitcoin market capitalization has slowed down as well. Currently, at $5.6B, and was at $6.4B for the past few weeks. 

What does all this mean...It means Bitcoin has finally become stable, predictable and is possibly ready for utilization within the larger financial community...Unfortunately, a side effect of this is the raging roller coaster has slowed down and now appears boring in comparison.

Bring on the boredom in order to spur more investment.

The price of Bitcoin continues to find stability and fluctuates slightly up and down.

Bitcoin Network Capacity
The Bitcoin network capacity is 63.5PH/s this week and was 54.4PH/s. This represents another major outlay of mining hardware over the past week. This directly relates to a Bitcoin network growth of 116% over the span of this week. This marks three weeks of concurrent 116-120% growth.

Bitcoin Market Capitalization
The Bitcoin market capitalization has recovered overnight. Currently, at $6.4B, and was $6.4B the past week. 

Bitcoin Pricing Commentary
The price of BTC has rapidly rebounded from a low around mid March of approx $400/BTC to stabilize around $550/BTC. 

The price of Bitcoin has rebounded strongly this week.

Bitcoin Network Capacity
The Bitcoin network capacity is 54.4PH/s this week and was 45.6PH/s. This represents another major increase of mining hardware over the past week. This directly relates to a Bitcoin network growth of 119% over the span of this week. This marks two weeks of concurrent 120% growth.

Bitcoin Market Capitalization
The Bitcoin market capitalization has recovered overnight. Currently, at $6.4B, and was $5.75B the past two weeks. 

Looking Forward
The interest in China and the potential of a banking block has stifled the BTC price over the past month. However, the day of reckoning has come and gone and with the instability gone, BTC pricing has shot up.

Bitcoin Pricing Commentary
The price of BTC has rapidly rebounded from a low around mid March of approx $400/BTC to around $550/BTC. 

The price of Bitcoin appears to have bottomed out this week and is slowly regaining strength.

Bitcoin Network Capacity
The Bitcoin network capacity is 45.6PH/s this week and was 37.8PH/s. This represents a major increase of mining hardware over the past week. Perhaps a large shipment of miners turning hardware back on once price has slowly recovered. This created an increase in the Bitcoin network of 120% over the span of this week. 


Bitcoin Market Capitalization
The Bitcoin market capitalization has flatlined this week. Currently, at $5.75B, and was $5.8B the past week. This is demonstrating the short term stability has crept back in to the Bitcoin market.

Looking Forward
Bitcoin has a tough road to recover its $1000 pricepoint but can continue to find new interest within the internet community.

Bitcoin Pricing Commentary
The price of BTC continues to slowly build from decrease in March...Up from approx $400/BTC to around $470/BTC. 

This week continues the decline of the BTC price and all digital currencies. 

Bitcoin Network Capacity
The Bitcoin network capacity is 37.8PH/s this week and was 42.7PH/s. This represents the first decline in the Bitcoin network for a long time at 88% over the span of this week. 
Bitcoin Market Capitalization
The Bitcoin market capitalization has also declined. Currently, at $5.8B, falling from $7.7B the past two weeks. This is demonstrating the short term instability has crept back in to the Bitcoin market and this will hinder longer term growth.

Looking Forward
Bitcoin continues to find it's way in pioneering the digital currency space and is having a tough time proving it's worth. 

Bitcoin Pricing Commentary
The price of BTC continues to decrease in March...Down from approx $700/BTC to around $500/BTC. 

This week continues the news of Mt Gox closure and continued interest in the future of Bitcoin and all digital currencies. 

What the prevailing thought is that Bitcoin is struggling from a mixed marketing message.


Bitcoin Network Capacity
The Bitcoin network capacity is 42.7PH/s this week and was 32.8PH/s. The Bitcoin network is now 130% over the span of two weeks. Growth into the mining technology side of Bitcoin continues at a steady pace over the past 12 months.

Bitcoin Market Capitalization
The Bitcoin market capitalization has kept steady at $7.7B the past two weeks. This is demonstrating the short term stability that many have requested of Bitcoin to bring in more investment for long term growth.

Looking Forward
Bitcoin continues to find it's way in pioneering the digital currency space, naysayers even as prominent as Warren Buffet continue to hammer the negative message of Bitcoin. However, similar things were said about Elon Musk and his work at Tesla Motors and Space-X and these companies have exhibited extreme growth.

Bitcoin Pricing Commentary
The price of BTC is slightly decreasing to around $500/BTC over the past 10 days. If we look at the 30 day outline, you can see the recent stability is starting to wane as well.

Bitcoin is struggling to bring a new vision to the market about instant money transfer, safety from government taking citizens money and providing little interference or fees in the process....Good enough for long term growth? We will see soon.

For those interested in the hardware side of Bitcoin, namely "mining" this article is dedicated to providing a quick synopsis of how the mining side of the Bitcoin business is fairing.

Currently, there are still a few big names in the Bitcoin mining hardware production business.

There has certainly been some turmoil on the Bitcoin hardware manufacturing side as well. There are a few companies that promised customers hardware that was never manufactured (or could never attain the output promised) and vendors that continually missed deadlines.

For every single company that has shipped Bitcoin hardware, there appears to be hundreds of companies that setup shop with a flashy website luring unsuspecting people into investing hard earned dollars into vaporware.

Invest your money carefully, this article is for informative purposes only and not an endorsement for any company listed below, please do your own research.

The world's largest Bitcoin mining operation has been unveiled in Washington state (somewhere undisclosed). This mining operation is producing $8M per month for the owner Dave Carlson.

For those unfamiliar with Dave, he was part of the North American launch of the ASIC (Application Specific Integrated Circuit) Bitcoin mining chip named Bitfury. 

Not much is known of the development of Bitfury but the mining cards shown in the video below were originally for sale on Megabigpower.com website selling Bitcoin ASIC mining hardware. 

The facility created by Dave is very impressive, calculating 1PH/s drawing 1.3MW of power. This effectively means a 769H/w. Common configurations of mining hardware yield 500H/w. This means the Bitcoin mining ASIC hardware employed by Dave is very, very power efficient.

Based on our napkin calculations, the mining hardware employed by Dave is worth approximately between $18-23 Million dollars. 

These calculations are based on Qty 4000 individual mining rigs (or systems) which generate 250GH/s per rig at an estimated cost of $4500 ($5800 retail) per rig = $18 Million Dollars*

*Note: This is full retail pricing and does not include the cost of electricity, warehouse space, racking, networking, installation, etc. We assumed a volume discount of 30% reduction in hardware price. 

This week's news is the currency is shedding the negative influence sites like Silk Road and Mt.Gox and evolving into mainstream currency. 

Based on our update last week, the pricing was near $500/BTC and now is stabilizing to around $700/BTC.


Bitcoin Network Capacity
The Bitcoin network capacity is 32.81PH/s this week and was 27.31PH/s. The Bitcoin network is now 120% over the span of this week. 

Bitcoin Market Capitalization
The Bitcoin market capitalization has increased by $500M to $7.7B this week. This is demonstrating positive momentum for the market as a whole.

Looking Forward
Coindesk has launched an article called "Current Criticisms of Bitcoin Are at Least 10 Years Too Early" that compares Bitcoin and digital currencies to the original implementation of email back in the late 1980's. 

Newsweek has reportedly found the creator of Bitcoin...Satoshi Nakamoto. He is reportedly living in California the whole time throughout the rise of Bitcoin at the genesis of digital currency.

The Newsweek article is very convincing in the amount of research and their attempt to finally unmask the elusive creator of the revolutionary digital currency.

Says Bitcoin's chief scientist, Gavin Andresen, 47. "For anyone who's tried to wire money overseas, you can see how much easier an international Bitcoin transaction is. It's just as easy as sending an email."


SOURCE ARTICLE: http://mag.newsweek.com/2014/03/14/bitcoin-satoshi-nakamoto.html