MarketWatch has been all over the BiteCon many times, the comments generally trending towards backbiting between the two sides (evil vs. good.)

it basically falls under the Buffett rule for me… “If I can’t understand it, I don’t invest.”

consider the BiteCon as currency of sorts (you can trade bean cans, bullets, pretty rocks, whatever has value to the acquirer and causes transfer of value to the seller is a currency of barter at least) for the following question…

Mining BiteCon involves performing a number of calculations faster than anybody else in the chain, yielding a small number of the asset. This means there is a store of value someplace, real or imagined, that is supporting the whole value proposition. the rest of the package is folks trading real, bite-it-it’s real, money for the BiteCon.

Pray tell, who thinks those calculations are of such high value, and why? is it a rogue nation looking to crowd source the hydrocodes for making nukes? a rich nut?

or is the whole BiteCon thing a Ponzi with somebody deciding one day to cash out from the middle and run?

nobody has answered that for me yet. i gain nothing