It was on December 17, 2017, when Bitcoin reached its highest value to date, hitting almost $20,000 and promoting a number of people to take double mortgages on their houses. It was a true, unadulterated Bitcoin rush. Quite the rush indeed, with people getting gripped by the “fear of missing out”, a known economic misconception that will now cost them dearly.
A Danish company predicted in the past that Bitcoin could reach the enviable $100,000 in net value, but this has been dashed as the value of the coin has slipped below what is reasonable. Dashed is the six-figure value of Bitcoin. And dashed are the hopes of many to become instant millionaires.
Of course, there are [...]
The greatest criticism Bitcoin often faces lies in the simple fact that this is more of property than a real-world exchange token that can purchase goods. As an increasing number of venues are now beginning to accept Bitcoin and trade back goods, this chastisement seems to wane.
Venues are shining their glitzy and sparkling signs “Bitcoin Accepted Here,” and customers seem happy to swing by and disperse a few motes of digital dust in order to sip on a coffee, eat a quick meal or just pick a piece of furniture.
Yes, in some parts of the world cryptocurrencies are taking on slightly more fleshed out look than what scepticism would suggest. CNBC asked Aswath Damodaran, a [...]