We look at what Bitcoin is, why it’s inflating, and whether it’s likely to become a common way for people to pay for stuff. COM has chosen English as your language setting. Is Germany’blockchain bitcoin ukraine political left coming apart at the seams?
The old saying applies: If it looks like a duck, walks like a duck, and quacks like a duck, it’s probably a duck. Charting Bitcoin’s price trajectory over the past year, it looks, walks, and quacks like a speculative bubble. Before getting caught up in the frenzy, it’s worth looking at what exactly Bitcoins are. Are Bitcoins useful for anything beyond financial speculation? Its promoters call Bitcoin an electronic currency — but are Bitcoins really suitable for everyday market transactions, like grocery shopping? Are they a good long-term store of value, a sensible choice of financial instrument for people who want to save for retirement, for example? According to Perrin, the answer to these questions is: “No.
Because of the way it was designed, he told DW, the Bitcoin system isn’t particularly useful for anything other than financial speculation. The market price of Bitcoin in dollars, over the past year, until mid October 2017. In the past several weeks, the price of Bitcoin has nearly doubled. There’s a speculative bubble on. Bitcoin is the best-known of dozens of cryptocurrencies that in recent years have been springing up like mushroom caps in a foggy autumn forest.