Bitcoin will prove its potential in the coming months or "shut up". Review economist
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In a recent post, Bloomberg Professor of Economics at the George Mason University Tyler Cowen believes the bubble of the «useful» in the history of the stock market. He compared the current position of the digital asset with the collapse of the stock of railway companies in the 19th century and the dot-com bubble in 2000. According to him, the fall of cryptocurrency can lead us to great things in the future.
theBubble as a necessary evil
In the article, Cowen said that after major upheavals, often, a period of prosperity.
Stocks plummeted in 2000. The collapse of the dotcom bubble gave the opportunity «to clear the market» from outsiders and give way to those who soon made a real technological revolution.
According to the economist, the fall in the price of the crypts does not mean «end of technology or its irrelevance in the modern world». The growth of the industry from zero to $ 800 billion only contributed to the rise «silly money» on the market. Mass hysteria has caused a sharp Pampa altcoins. In other words, in 2017, Bitcoin was a little overrated.
Now the crypt a lot of practical applications — cross-border payments, decentralized apps and even national cryptocurrencies. However, some analysts still doubt the usefulness of Bitcoin. It is often «blame» in money-laundering and the financing of terrorism.
We are at that stage of development when a Bitcoin itself should prove its usefulness to society. What does it mean? Imagine you are using PPC as a means of micropayments for content online. Or blockchain helps to determine the identity of the person without having to reveal the last digits of your social security number.
image Source — eCrypto
In the end, Bitcoin is under «now or never». According to Cowen, if the bitcoin will prove its potential in the coming months, she will finally fall out of the field of view of publicity, that is «shut up». But in the moment, it is always possible to talk in our .
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