JPMorgan has caused a stir amongst cryptocurrency miners, after last month’s report estimating Bitcoin’s ‘fair value’ at $2400. This assessment derives from the marginal cost of producing Bitcoin, but some disagree with Chinese miners’ production cost estimations. The Price Of Dystopia In the report, JPMorgan analysts claimed that the “average cash cost of a low-cost Chinese miner was around US$2,400 per bitcoin” in Q4 2018. This, they suggested, is the break-even point; the marginal cost of producing one bitcoin. With bitcoin currently hovering around the $4000 mark, that represents a price drop of 40% before achieving ‘fair value’. This actually seemed like progress from the previous day, when a JPMorgan analyst claimed bitcoin only had value in a dystopian environment. Unless the suggestion is that we are already living in a dystopian environment? The Fallacy Of Metrics Anyway, miners argued that the design of Bitcoin means that the very concept of an average ‘marginal cost’ was..
Phil George and his cryptocurrency micro investment app Bamboo are striving to improve the understanding and investment opportunities associated with new technologies like blockchain that underlie disruptive changes in finance and economics. Phil George stated, ‘Our platform aims to provide access to different investment opportunities like cryptocurrencies.’ Bamboo is planned to launch in Australia and the United States and works very similar to the successful Raiz Invest App that allows users to invest spare change into their portfolios. Bamboo will allow users to invest their spare change in cryptocurrencies like Ethereum and Bitcoin. However, that does not cover the entire scope of Bamboo as there’s more to it. He wants to extend the scope of micro investing to things like real estate and commodities. This vision is shared by the entire founding team who wants to share the benefits of blockchain technology with the entire world. George stated, ‘We believed that blockchain repre..