Fred Constantinesco hardly ever stopped smiling. Get the latest D-FW news at your fingertips. Your first month is less than a dollar. More than four dozen professionals, gathered recently at a meeting Constantinesco convened, were in animated chatter about buzzbrews bitcoin stock — the world’s most popular digital currency.
It was a stark contrast from the event’s early days, way back in 2015. Then, often the only person who would listen to his beliefs about bitcoin was Jenny the bartender at The Quarter Bar in Uptown. 31, sporting a bitcoin T-shirt. I’m like, ‘Yes, we made it. This year it’s been insane. There’s been anywhere from 30 to 40 to come.
You get a lot of new people. Many are drawn by the chart-topping rise in the value of digital currencies — bitcoin is up nearly 2,000 percent since last year — or the “world-changing” potential for its underlying technology. The burst of interest also has fueled fears of a bubble. Launched in 2009, bitcoin’s rise has gone from slow to meteoric. 17,000 figure listed on Bitcoin. The trading, which led to a record high and a 22 percent gain for the week, marked the currency’s first transactions on a regulated exchange. 100,000, which some backers say is possible, or plummets to earth is still being debated.
Detractors call it a fool’s bet with prices being boosted by little more than speculation. Supporters predict the next big monetary evolution. At Constantinesco’s recent Meetup, and in additional interviews, there was little talk of bursting bubbles, or the currency’s murky beginnings, or the tax man. The comments about the peer-to-peer currency focused more on consumer empowerment, eliminating the middleman, and revolutionizing the world’s monetary system for the first time since ancient traders got tired of lugging around gold and began using paper money. Still not sure what bitcoin is or why it’s surging?