bitcoin and the most simplistic terms requires those who are mining to solve complex mathematical puzzles to create a new bitcoin of which there are limited supply. the issue is bitcoin money requires a large amount of power to do this and so it has a sort of cost and eventually there will be some sort of reconciliation between the cost in power terms and the actual amount of bitcoin and the price of bitcoin. miles johnson, live for us in london, thank you for the explanation on what s happening. thank you. and coming up here, the latest on tensions over the u.s.-jerusalem decision. we ll have a live report from the region. plus, celebrations there but these are not protests. we ll explain has cnn newsroom pushes on. no more questions for you! ouph, that milk in your cereal was messing with you, wasn t it? try lactaid, it s real milk without that annoying lactose.
the grocery store to buy something and the value of the dollar s in your pocket moved by 50% by the time you left your house to buying your groceries. it s very difficult to have a store of value and currency at the same time. let s talk about the people who actually led to this rise. we know that this is useful, being used on the dark market. what about its legitimate purposes and uses? yes. there are its supporters will argue that it s effectively creating a deextrawillized digital currency which is not dependent on the backing of government are central banks so that gives it a use and sort of stability which people who support it argue normal currencies don t have because they re dependent on central banks and governments. and the last question i d like to ask you just about bitcoin mining. can you explain that please? bitcoin mining is effectively a means of producing more
lilac fire over 40% contained. this is the burn area where we ve highlighted in rain on google earth just to show you how large and expansive an area this really is. from oakview south to ventura and towards the mountainous areas of southern california. this area is just nearly the size of chicago. still a critical fire danger in threat today. over 20 million americans red flag warning continues. this has been ongoing for six days straight and the conditions there are just ripe for more fires to break out with winds picking up. there is silver lining, they have made some progress on some of the larger fires but that doesn t mean that embers aren t still possible there and with winds picking up later today, they could spread once again. not over yet. no, it is not. several day, if not week problem. thanks for keeping us up on it. yeah. you may have heard a lot about bitcoin, the
how it plays out. roy moore is not a strong candidate within the state, hasn t been tremendously popular. he was down in the polls before trump endorsed him. so there might be some sense that restraint could be actually more effective strategy for influencing what happens on tuesday in that state. live for us in london, thanks for the insight today. thank you. firefighters have turned a corner we re happy to say on those aggressive fires in southern california. but could the forecast impact their progress? plus one of the world with s most mysterious currency gets a big boost in value this week. talking about bitcoin and if you own any, you might be smiling today. we ll be back after this. to find my next vacation. rome, show me something. i m having breakfast at the pantheon. what an amazing view. of your finger.
by these traditional means. mainstream experts they just don t get it. your thoughts on that? is this something that can be understood by people who follow traditional means? i think it very much is sort of shows many different elements of what could be seen as a speculative bubble because it s used as faith based means evaluations. you can t understand this. the only way of understanding this is by adopting a new way of thinking and i think it very much means it s impumpus to normal fact based financial analysis. some of our viewers may ask the simple question for those who are not familiar with it, where can you use bitcoin? well, there are vendors who accept bitcoin as a means of payment but there s still a lot of friction in the bitcoin system. it s an expensive thing to transact with and most importantly it s extremely volatile. so it would be as if you went to