Using metaphors for cryptocurrencies helps people feel more familiar with the technology. But there’s a downside – we expect it to work just like regular money.
If Bitcoin is a bubble, it will be because its price rises are too great and can’t continue. If it isn’t, it will be because the Bitcoin market is still expanding. We just don’t know which one yet.
Bitcoin has been viewed as a liberating path out of the corporate monetary system. But the process of ‘mining’ the cryptocurrency is a massive energy drain - and potential environmental disaster.
The astronomic rise of the price of bitcoin over the past 12 months raises fears that the cryptocurrency is set to crash which could see many people lose money.
You may have imagined the blockchain would lead to a world without governments or institutions veryifying transactions, research shows that it probably won’t.