I realized today 9/14/16 how long it takes to download and update a new bitcoin wallet to the blockchain. I’ve had the same wallet since 2010. I have not started a new one in a few years. When it started it was at 7 years, 37 weeks behind. It took one full day to get to 5 years, another day to get to 1 year, 7 weeks. It seems like its going to take the better part of today to finish updating.
You can really tell how many more transaction are happening now compared to the first years. Here is a screen shot of it updating as I write this post.
You can see in the green bar that I have 1 year and a few weeks to go. I started this wallet 2 full days ago. This brings up an interesting possible situation. Think about how fast things happen on the internet. Uber didn’t take 43 years to work their way through the minutia of the taxi industry. They completely took over that industry in about 5 minutes.
One day bitcoin is going to blow up. Its already proved itself as a 100% reliable means of exchange over the past 7 years, 37 weeks. Yes, an exchange got attacked, someone somewhere bought dope. Bitcoin itself has never faltered and never will. Do you really want to compare the criminal history of bitcoin with the dollar? It works a thousand times better, faster and more secure than dumb ass dollars.
Whoa…I almost got on my soapbox. The point to this post is this. Its takes 5 days to buy and store bitcoin in a software wallet. Bitcoin is at $609 right now
When something weird happens and bitcoin goes viral the price is going to go through the roof. Not like go to $700 or $800 but go to $6000 then $60,000 in a matter of hours. While bitcoin is going viral the dollar is going to be crashing.
When I first bought bitcoin in 2010. My big bank would not link to an exchange for obvious reasons. I had to open an account at a local credit union just for the purpose of buying bitcoin. It took a few days. then I had to link the account to an exchange. They made some small deposits of like .35 and .08, then I told them the amounts and the accounts were linked. It then took a few days for my wired funds to become available.
If you have your head buried in the sand concerning bitcoin. You are going to miss what I think is the biggest opportunity in the history of mankind to a mass a fortune. Not giving financial advice, not telling you to invest all your broken dollars in bitcoin. Just telling you to get a wallet. Its free. Update it to the blockchain. Buy $5 worth of bitcoin just to see how it works.
Less than 1% of the world population has ever heard the word bitcoin. Imagine what bitcoin will be worth when 1% knows about it? Imagine 10%. This is not opinion, its math. Check the video this guy is from Agentina.
Remember, Bitcoin is world wide.
Thanks for reading;
Thomas Meyers-Bitcoin Expert