The Forrester Muse
JAN 29, 2014 12:27pm ET

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Why Bitcoin is Here to Stay


When I stumbled across Bitcoin (or Bit-O-Coin, as my wife likes to call it) a few years back, my spidey sense started tingling. Since that time, Iíve made a few off hand remarks about the future of crypto-currency and received the expected ďitís another Dutch Tulip thingĒ. While Iím not an expert on the financial markets, I do have an excellent trade record for identifying disruptive technology changes and Iíve concluded that crypto-currency is here to stay.

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Comments (4)
While one cannot but agree that this is a real disruptive technology (remember Napster) I believe we are far from saying Cryptocurrencies are here to stay, at least not in their present guise. Not as long as there is obscurity around issues such as (1) how absolute is the "absolute maximum" of, say, Bitcoins ever in existence; (2) how susceptible to manipulation is the "honesty of nodes" on which Cryptocurrencies rely on; (3) how can we ensure we are not simply expanding the rogue trader's toolbox, as opposed to creating a useful-for-all platform, and many more. Democratising the Central Bank may be a good idea, however, I think CDOs and other derivatives can well be drawn on Bitcoins, peercoins, litecoins and anything that can be used as a standard value-carrying component (currency or commodity). I think the real issues are into the extent to which Cryptocurrencies will or will not be integrated into the current market exchange system, possibly calling for them to become regulated in a fuller manner. I also think that this will be up to the incumbent intellectual infrastructure of the markets. All I think we can safely assume is that Cryptocurrencies open up a new debate: whether a peer-regulated framework can match the robustness of exchange standards guaranteed by the sovereign state.
Posted by Georgios S | Thursday, January 30 2014 at 2:07PM ET
In my opinion, bitcoin has a huge impact in the today's financial system. It's here to stay, Winklevoss brothers pointed out that bitcoin could be the next gold. Can't you see Canadian penny has officially phased out . It's because, they are adopting a revolutionized and innovative currency that will not only benefit their people but their economy as well.
Posted by Gala W | Wednesday, March 26 2014 at 10:48AM ET
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