Nothing pains me more than seeing BitCon perform well (likewise I enjoy little more than seeing it crash). Whilst I am fairly savvy with programming etc, I never went too deep into learning the finer details of BitShit because whats the point of learning finer details about nothing... However, I was stunned to discover yesterday that BitJunk is limited to a maximum of 7 transactions per second, this means that if it became mainstream...
... and BitNonsense was entirely reserved for Australia, an Australian could only go shopping once every 99 days (assuming 20m of our 25m population needed to shop).
That assume the rest of the world foraged for food etc and never used BitTurd.
Worse yet, it's not even a technological issue, it's just a few terrible lines of computer code... which can/isn't an issue with other coins and aside from that Visa/Mastercard already do vastly more transactions per second (obviously). There are workarounds been developed but its fundamentally just a poorly coded computer game.
And people are paying US$70k / coin for this hopeless junk?
Anyway, I should be writing about other stuff so:
Gold closed at another record high.
Interesting night for IO with front end prices notably slipping... but not at the backend, that's a good sign.
US stocks slide... primarily due to Apple... Powell testifies tonight so that's the main event for the week.
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