The digital currency Bitcoin has moved from the fringes to more of the mainstream in the past few weeks, mostly because its value has risen at such an extraordinary rate. And just like a surging stock, it’s left a lot of people wishing they’d either got in earlier, or wondering how they can jump on board now.
But as ever, there are questions about how safe it is, how to regulate something which by its very nature is decentralised, and if it is just another bubble waiting to burst.
So, what is behind the sudden rise in value of Bitcoin?
Presenter: Kamahl Santamaria
Guests:
Garrett Hileman – Economic Historian at the University of Cambridge and London School of Economics.
David Vaile – Co-convenor of the Cyberspace Law and Policy Centre at the University of New South Wales.
Joerg Platzer – Owner of Room 77, a restaurant and bar that first accepted Bitcoin in 2011.
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Part of the system that will eventually kill Bitcoin currency is its finite amount that will peak at 21 million encrypted code. If 1 Bitcoin reached the hyped value of a $100,000.00 and buying a $1 burger will amount to Bitcoin currency 0.000001, then that deflationary valuation of counting how many negative zeros before paying will be the no-brainer. The consuming public will scratch their head first before completing a transaction. If this kind of second thoughts exists in the market, then the currency will eventually lose its appeal, because the success of an encrypted currency is the ease of its use among the common public…
When bit coin will its just matter of time but it wont disappear i will be there but this 20k bs will be soon gone..
By the end of this interview David bought some Bitcoins.
I don't trust it
who physically makes them and where?
what's to stop them making as many as they want?
and if they did wouldn't that make them decrease in value
Debating the usability of cryptocurrency is like debating with a 60 years old about online banking.
Yes first you all have to understand when you have a discussion in his general public like this people talking about Bitcoins, what they're really referring to is the entire cryptocurrency family. Now there are cryptocurrency in the market such as IOTA, which solves all the problems that previous cryptocurrency such as Bitcoin head such as transaction fee Network congestion and etc.
Now let's talk about the usability when you ask a question why people are not using Bitcoin as much as they're using cash it is completely foolish and dumb, because you are comparing a technology which is about 5 to 6 years old with a form of payments which is ever more than a thousand years old. And I went to respond to that folk who said email is not as important as Bitcoin because you aren't dealing with $$. Let me tell you this, get a an email from Donald Trump, I'll give you more than what Bitcoin worth right now.
Since blockchain can't be hacked meaning store of value is safe from any gov't control to seize, or increase to use for gov't purposes not told to us makes Bitcoin destined for real life success when inflation reoccures like in 2008.
would you say the british pound or the american dollar are perfect for illicit payments. Would You? Since both are and have been for many many years now. what you fail to grasp is the fact that the central bank concept is flawed and promotes usury and global wars and striff
Bitcoin "perfect for illicit sales" should be changed to worst currency for illicit sales. When will media stop playing ignorant that Bitcoin is public ledger technology? I like the piece mostly but I can think of many currencies better for illicit sales, both crypto and traditional.