Bitcoin was recently called a combination of a bubble, a Ponzi scheme and an environmental disaster by one of the world's leading authorities on finance and economics.
But underneath that sensational description, cryptocurrencies are saddled with underlying technological flaws that will likely prevent them from living up to the hype or merely becoming a more commonly used currency.
Hyun Song Shin, head of research at the Bank for International Settlements in Switzerland, discusses the topic with Bloomberg News economics editor Scott Lanman.
Listen here... https://www.bloomberg.com/news/articles/2018-08-09/bitcoin-s-big-problems
But underneath that sensational description, cryptocurrencies are saddled with underlying technological flaws that will likely prevent them from living up to the hype or merely becoming a more commonly used currency.
Hyun Song Shin, head of research at the Bank for International Settlements in Switzerland, discusses the topic with Bloomberg News economics editor Scott Lanman.
Listen here... https://www.bloomberg.com/news/articles/2018-08-09/bitcoin-s-big-problems
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Francisco Gimeno - BC Analyst Bitcoin has been dismissed so many times since its inception that is already becoming tiring when listening to podcasts like this. Bitcoin itself has no flaws. It has been built to endure. We can discuss on its ultimate use and importance in the crypto digital economy (maximalists will defend BTC as the only crypto worthy of its name, f.i.) and evolution of the system will surely see new Alt coins which are not the mostly speculative and weak ones offered up to now, but real useful digital currency which will be able to be used as a common currency. I foresee yet anyway a long life for BTC. What do you think? -
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Jakobo Gimeno I loved this post because the guy does point out very valid reasons to why Bitcoin as a currency has flaws. I believe that as great as Bitcoin is it still has room for improvements till it can be used casually by people. This is the nature of every technological creation it has to be perfected and with Blockchain we might get that Crypto currency in the future. Maybe I am wrong, time will tell.