Bitcoin bounces back despite negative publicity
Even many of the currency’s backers warn that another sharp correction is likely to follow
From Financial Times
Bitcoin, the digital currency that has attracted drug dealers and tax evaders, is on a roll again. But after a renewed price rise that echoes its first speculative bubble three years ago, even many of the currency’s backers warn that another sharp correction is likely to follow.Full article here: https://www.ft.com/content/d88b0c1a-ccca-11e6-864f-20dcb35cede2Bitcoin first boomed in 2013 as speculators and libertarian idealists — along with assorted lawbreakers — were drawn to the idea of a currency beyond the reach of central banks and national regulators. Tech entrepreneurs and venture capitalists also jumped on the bandwagon, betting that it would become a platform for a disruptive new financial services industry.
The currency’s price later fell more than 80 per cent from its peak, after a cyber-heist from its biggest exchange and growing attention from regulators. Since then, most people in the financial world have written it off as a failed experiment in digital finance, even though the idea behind a core part of its technology — the blockchain, a distributed ledger that simplifies transaction processing — has since moved across into mainstream finance.
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Thanks for sharing. BITCOIN remains bullish and has been one of the best performing assets of 2016. Upvoted and tweeted. Stephen
https://twitter.com/StephenPKendal/status/814789791631966209
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I wonder if the author wrote this article and submitted it and the boss was like, "actually we hope to copy this technology soon.... So yeah.... " So then the author had to put something about how good the idea is at the end.