2017

“The Guardian view on cryptocurrencies: blockchain of fools” – The Guardian | $8,196.15

By Alexander Reed

Last Updated: Dec 27, 2024

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bitcoin obituary
Disclaimer Icon
Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.

The corresponding moment for the cryptocurrency bubble will only be discernible in retrospect, but we have some pretty strong candidates already….

The notional price of the main cryptocurrencies continues to shoot upwards in a way that makes nonsense of the idea that they have any value as a medium of exchange. Even if they were widely accepted by legal merchants, it would at the moment be lunatic to exchange them for anything but real money. Bitcoin itself is trading at more than $8,000, more than 10 times its price a year ago, and more than double what it was three months ago. Since it is only widely used as a currency in drug deals or for ransom payments, there is either a huge boom in criminal activities outside the world of cryptocurrencies, or one within unregulated exchanges where these tokens are traded.

Eulogy made by The Guardian Editorial

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Alexander Reed
Alexander Reed
Editor

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including... Read More

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