Bitcoin has been called a Ponzi scheme. Especially now that unwitting speculators are buying the cryptocurrency. They are attracted by the spectacularly rising price of Bitcoin and other cryptocurrencies in 2017.
In The Problem with Calling Bitcoin a “Ponzi Scheme”, Preston Byrne argues that this is not correct. Continue reading “Bitcoin is not a Ponzi scheme”
Over de bitcoinprijs heb ik niet veel te zeggen. Behalve dit: FOMO. Fear Of Missing Out. De angst om iets niet te bezitten waarvan de prijs sterk stijgt, terwijl je kennissen die eerder kochten rijk worden. Meestal gaat het dan over beleggingen in aandelen, nu zijn speculanten bang dat ze de bitcointrein gaan missen. Continue reading “FOMO”
Bitcoin is een digitale munt. In tegenstelling tot (supra)nationale valuta zoals de euro, dollar of yen wordt bitcoin niet gecontroleerd door een centrale bank. Iedereen met voldoende computerkracht kan bitcoins bijmaken. Het is echter in het systeem geprogrammeerd dat de uiteindelijke hoeveelheid bitcoins eindig is. Continue reading “Bitcoiners vinden het warm water uit”
Everybody has heard of bitcoin by now. The price of the cryptocurrency is hitting all-time highs. John McAfee has bet that one bitcoin will be worth $500,000 in the year 2020. Bank chief Jamie Dimon called bitcoin a fraud. His statements were (predictably) followed by articles saying that bankers should be afraid of cryptocurrencies.
It seems there are two bitcoin camps: the true believers and the naysayers. Izabella Kaminska from FT Alphaville in particular has been explaining for years why cryptocurrencies are not the utopia some imagine them to be. In this post, I summarize my own reasons why I don’t think bitcoin is a credible threat to the banking industry.1 Continue reading “My beef with bitcoin bulls”