Opinion Piece: The Viability of Cryptocurrency
THE VIABILITY OF CRYPTOCURRENCY W r i tten b y: Kyle Crut c hl e y
T he v alue of c r ypt o currency l i e s n o t just in w hat it is, b ut w hat it ca n b e. To the untrained observer, cryptocurrency may be the latest fad, an unsustainable bubble built upon the wealth of fools. With a little experience and personal insight however, we can see that this view is not only overly simplistic, but plain wrong. This is not the view of an experience trader, but rather an intern with one day’s experience in the field of cryptocurrency. Just the name cryptocurrency can lead to sneers of derision, particularly from those who see it as a speculative asset without any backing. Cryptos however, have their own unique strengths, which allow them to stand out from other, more traditional assets such as real estate, or stocks. First of all, cryptos, and the success of any emerging cryptocurrency relies upon investors trusting the technology upon which they are based. A main criticism of cryptocurrencies is that people claim that you can not trust the technology that it is based on, that can any moment, an Mt.Gox moment will arrive and investors will be left penniless. Think about that claim, would investors choose to
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