bitcoin

The ‘Bitcoin Boy’ and Other News from the Land of Digital Currency

The recent buzz around the digital currency bitcoin has launched a somewhat legendary teen back into the spotlight. His name is Erik Finman. He’s 19 now, but in his early teens he was better known as “The Bitcoin Boy.”

The story goes that in 2011 Finman, a smart, yet restless kid living in rural Idaho in the U.S., bought 100 bitcoins with $1,000 from his grandmother. He cashed in that investment in 2014 for $100,000 in order to win a charity raffle night out with one of his idols, Alexis Ohanian, co-founder of Reddit. Finman went on to found a company and have success as a young entrepreneur. Meanwhile, his investments in bitcoin continued. According to recent reports, Finman now owns 401 bitcoins, which have been rising in value to thousands of dollars per coin. As a result, Finman is reportedly worth millions these days. His latest career aspiration: To build the “school of all schools” in Dubai, the largest city in the United Arab Emirates.

As one of the most high-profile teenage bitcoin investors, Finman gets lots of ink and lots of followers on social media – more than 19,000 to date on Twitter. That’s why when he drops tweets like this one from December 22, 2017: “There will be lots of ups and downs for cryptocurrency on the way to the top! Its success is inevitable! It’s unstoppable,” people take note.

As with any investment, knowledge is power. KWHS called on our sister publication, Knowledge@Wharton, to understand what all the bitcoin buzz is about. Here are some key takeaways from K@W’s recent story What’s Blowing Up the Bitcoin Bubble?

What is it? Bitcoin is the world’s first decentralized digital cryptographic currency (a.k.a cryptocurrency). A few years ago we asked high school student and self-proclaimed “bitcoin ambassador” Dylan Redfield to explain. “First, bitcoin is a currency,” said Redfield. “Just like you can have a dollar, a euro or gold, you can have a bitcoin. It holds a store of value like any other currency. Bitcoin is completely digital and is stored on your computer. It is decentralized and runs on a peer-to-peer network, which means that not one person or [institution] can regulate or control bitcoin. And it uses cryptology [as a security measure] to make sure that only you can use your bitcoins.” People can choose to pay for things using their bitcoins – sites like Overstock.com and Reddit.com accept this digital currency – and/or they can invest in the bitcoin currency as they would invest in the stock market or in gold, and earn a return on their investment as the price in U.S. dollars per bitcoin rises.

The bitcoin buzz. That brings us to all those recent headlines. The price of the cryptocurrency surged by nearly 1,900% in 2017, to an average high of $19,499 on December 15 across major bitcoin exchanges, before plunging down to just under $14,000 by year’s end, according to blockchain.info. On January 16, 2018, the value was around $11,500, dropping to a six-week low. Even so, bitcoin’s ascent is striking especially since it emerged just eight years ago, the creation of a mysterious person or group of people named Satoshi Nakamoto. In 2009, bitcoin was worth zero.

Why all the hype? Much of bitcoin’s stratospheric rise was achieved in the past year. For years, bitcoin traded in a much lower range due to its novelty, a spate of negative news such as the 2014 hacking of the now-defunct Mt. Gox bitcoin exchange, and early link to criminal activities (Silk Road). Those same concerns are still around — a South Korean digital currency exchange recently closed down after suffering its second cyberattack. However, bitcoin’s adoption by major institutions makes it more credible. The CME Group (Chicago Mercantile Exchange) and CBOE Global Markets (Chicago Board Options Exchange) recently began trading bitcoin futures. Nasdaq also plans to launch bitcoin futures in the first half of 2018, according to The Wall Street Journal.

Wow! Should I run out and invest in some? Cryptocurrencies are “highly speculative assets,” said Christian Catalini, a professor of technological innovation, entrepreneurship and strategic management at MIT, on the Knowledge@Wharton show on SiriusXM channel 111. “Here you’re investing not only in very early-stage projects, but also in very early-stage technology. Many of these assets may not exist five or 10 years from now, but some may be large successes. We’re really witnessing the dawn of a new industry.” Bitcoin is but one of a number of cryptocurrencies, including ethereum and litecoin.

What if it’s just a fad? “Long term, is this basic technology of cryptocurrencies something real that’s going to be a core part of the financial system? Absolutely,” said Kevin Werbach, Wharton professor of legal studies and business ethics. Central banks around the world are testing their own digital currencies. China has completed its trial run while Japan, Sweden and Estonia are developing their own as well, according to CNBC. Japan has J-coin, Sweden has E-krona and Estonias is called Estcoin. Also, the U.K., Uruguay and Kazakhstan are interested. Singapore is wrapping up its own digital currency trial in 2018. In the U.S., the president of the Federal Reserve Bank of New York said the Fed is exploring the same idea but it is still “very premature.” The cryptocurrency community is divided on whether bitcoin is a “side show or the show,” said Wharton visiting professor Shimon Kogan, who teaches a course on fintech that includes the blockchain and cryptocurrencies. He adds that the “fundamental breakthrough is not necessarily bitcoin but the blockchain technology,” which is the distributed ledger that tracks these transactions [and is the largest computational network in the world]. “Serious players are investing in blockchain technology.”

Expect the headlines to continue. Regulators, central banks and countries are ramping up their scrutiny of cryptocurrencies. France wants the world’s top economies to debate bitcoin regulations at the G20 summit this year, according to Reuters. The G20 summit is an international forum that brings together the governments of 20 major countries. Countries that have banned cryptocurrencies or initial coin offerings include China, Iceland, Ecuador and Bolivia. Those that have accepted or are regulating them include Canada, Japan, Poland, Ukraine and Australia.

Conversation Starters

What is bitcoin and why has it been getting a lot of press lately?

Expert Christian Catalini says that we are "witnessing the dawn of a new industry." What does he mean by this?

Are you a bitcoin investor and/or user? If so, tell your story in the comments section of this article. What have you learned about cryptocurrency that you can share with us?

36 thoughts on “The ‘Bitcoin Boy’ and Other News from the Land of Digital Currency

  1. Bitcoin has gotten a lot of attention due to the fact of it being a crypto currency that blew up and who invested in it made a ton of money. Bitcoin went up to nearly $20,000 for one bitcoin. That price is extremely high for a crypto currency. Bitcoin has exceeded anyone’s expectations.

    Christian Catalini is saying that bitcoin is the beginning of a dawn of a new industry. He is saying that because there are other popular crypto currencies such as ethereum and litecoin. This could be a new era as many investors put a lot of money into these currencies.

    I think i’m gonna wait until the litecoin price plummets and then i will probably buy some litecoin. I hope that it will pay off in the future by making me money. I know people that bought bitcoin and sold their house and they are in jeopardy of losing everything they have if bitcoin crashes.

    1. Personally I hate the whole fad with the litecoins and bitcoins. If everyone started investing in them who’s to say that we won’t have another great depression, maybe not to the first ones extent, all over again. It’s scary to think that people are so caught up in the fascination by the “new currency” that they forget that it’s just like the stock market and it can plummet fast. I don’t agree with going into the business of the coins and I do want people to stop and realize that it’s new and could very well end up making you very, very, VERY poor. Selling everything you own for some technology that you may never get profit from is crazy.

  2. What is bitcoin and why has it been getting a lot of press lately?
    Bitcoin is the world’s first decentralized digital cryptographic currency. Bitcoin is stored in your computer. One person or institution cannot regulate or control your bitcoin. It uses a cryptology to ensure you privacy and security. Bitcoins adoption by major institutions give it more credibility. Bitcoins are crypto currencies, which are highly speculative assets. The upcoming of a new industry is really thriving. I would eagerly invest in some cryptocurrency.

  3. 1. Bitcoin is the first electronic currency. Bitcoin has been getting lots of attention because it has been a good investment for lots of people.

    2. What Christian Catalini means is that in the future we probably will have no more paper currency, we will have electric
    currency known as Bitcoins.

    3. I am not a bitcoin investor, but I would love to be one. Although there has been some negative information about bitcoin that could start losing peoples money. In a lot of countries they are banning bitcoins in order for paper currency. There has also been lots of people that have bought bitcoins in those countries, that can now not get their money back and it is worth nothing.

  4. Bitcoin is an online currency that is slowly getting more and more people into it and investing into it. Recently Bitcoin has gone down and loss value and people are losing money from it. When Christian Catalini stated ” witnessing the dawn of a new industry.” he means by we are seeing new ways to earn and spend money and profit off of bitcoin. Personally, I’m not a bitcoin investor. In the future I would want to invest in it to see if i can make a gain in profit. I’ve learned that this new currency can be the future for our country and people can make profit.

  5. 1. Cryptocurrencies are a form of currency which exists purely in a digital form and is decentralized from any bank or government. Due to the highly volatile nature of cryptocurrency, many early investors have made big returns on initial investments hence rising in popularity as an investment. Bitcoin has been getting a lot of press lately as it is one of the many currencies which have had the exponential growth in value, creating many success stories.

    2. Christian Catalini stated, “witnessing the dawn of a new industry.” Through this statement, he predicts that cryptocurrencies, while relatively new and not widespread, will soon become a norm and a daily part of every individual’s lives. Through the spread of cryptocurrencies such as Bitcoin, it is inevitable that activities such as mining for cryptocurrencies and the cryptocurrencies themselves will become a huge industry.

    3. I am currently not a Bitcoin investor or user. Due to the highly volatile and unpredictable nature of this evolving market, the risk is too high for me to invest in cryptocurrencies. With regulations and improvements in the cryptocurrency sector, I am open adding a variety of cryptocurrency to my portfolio.

  6. Bitcoin is basically money online. Bitcoin can be used to pay everything like regular money but it’s value is differently. It has been getting a huge attention lately because people are becoming rich with this cryptocurrency coins.

    She means that the industries are involving and things are changing in the world, how we live and what do we work and get money of it.

    I’m actually not a bitcoin investor but i tend to start investing this year if possible

  7. What is bitcoin and why has it been getting a lot of press lately?
    Bitcoin is the world’s first decentralized digital cryptographic currency that is traded on different exchanges around the world and at the same time it is completely decentralized. It has been getting a lot of press lately because its value has grown exponentially over the last couple of months.

    Expert Christian Catalini says that we are “witnessing the dawn of a new industry.” What does he mean by this?
    Christian Catallini is saying that thanks to Bitcoin a whole new cryptocurrency industry is forming. Other cryptocurrencies like Ethereum or Litecoin are becoming increasingly popular and these other cryptocurrencies is whats allowing this whole new industry to consolidate in a whole new form.
    Are you a bitcoin investor and/or user? If so, tell your story in the comments section of this article. What have you learned about cryptocurrency that you can share with us?
    I am currently not a Bitcoin investor. In my personal opinion there is no fundamentals to Bitcoin and the high volatility involved makes Bitcoin an extremely dangerous investment.

  8. A bitcoin is a type of cryptocurrency. This means that it cannot be tracked nor regulated by the government. This currency had a really low exchange value in the beginning of this. However, this continued to grow and the exchange value grew to 10,000 and bitcoin has been on the news since. When Christian Catalini says that we are “witnessing the dawn of a new industry” he means that since bitcoin has been growing, it can be used as an official type of currency in the near future. I do not expect to invest in bitcoin since its a risky business. In the future when there’s and opportunity to invest in it, I may possible take the risk.

  9. What is bitcoin and why has it been getting a lot of press lately?
    Bitcoin is a new currency which was created in 2009 by the person that goes under the name Satoshi Nakamoto. It has been getting a lot of attention because recently the price multiplied, some invest costed 90 now 1900.

    Expert Christian Catalini says that we are “witnessing the dawn of a new industry.” What does he mean by this?
    He says that because bitcoin is on a very early stage and it could be dangerous.

    Are you a bitcoin investor and/or user? If so, tell your story in the comments section of this article. What have you learned about cryptocurrency that you can share with us?
    Im not a bitcoin user

  10. What is bitcoin and why has it been getting a lot of press lately?
    Bitcoin is the world’s first decentralized digital cryptograpih currency (a.k.a cryptocurrency). It can be used like regular currency online and can be invested in for later profit. It has been getting a lot of press lately because of how much it’s value has surged in the past year and how it’s being used by credible companies like CBOE Global Markets (Chicago Board Options Exchange).

    Expert Christian Catalini says that we are “witnessing the dawn of a new industry.” What does he mean by this?
    What Christian Catalini means by this is that somewhere in the future bitcoin may be used like regular currency.

  11. 1. Bitcoin is the world’s first type of decentralized digital cryptographic currency, or cryptocurrency. All of the press lately is because over the last couple of months its value has exponentially grown.
    2. When expert Christian Catalini says that we are “witnessing the dawn of a new industry,” he is saying that thanks to bitcoin, we are now looking at the rise of new industries that will be using cryptocurrency also.
    3. Currently, I am not a Bitcoin user or investor. But in the future if in the future there is an opportunity, then I might become interested on becoming a user, but currently it is too risky.

  12. Bitcoin has gotten a lot of attention due to the fact of it being a crypto currency that blew up and who invested in it made a ton of money. Bitcoin went up to nearly $20,000 for one bitcoin. That price is extremely high for a crypto currency. Bitcoin has exceeded anyone’s expectations.

    but we also have to know that bitcoin could crash at any point and if you invested all your money there is also a big chance that you could lose it, so to make sure you are able to make money the best way is not to really in one coin but to invest in multiple or different types of coins so that way if one goes down the other ones could be going up guarantying that you will not lose as much money.

  13. Bitcoin is the world’s first decentralized digital cryptographic currency. Bitcoin is stored in your computer. One person or institution cannot regulate or control your bitcoin. It uses a cryptology to ensure you privacy and security. Bitcoins adoption by major institutions give it more credibility. Bitcoins are crypto currencies, which are highly speculative assets. The upcoming of a new industry is really thriving. I would eagerly invest in some cryptocurrency.

    Christian Catalini is saying that bitcoin is the beginning of a dawn of a new industry. He says that because there are other popular crypto currencies such as ethereum and litecoin. This could be a new era as many investors put a lot of money into these currencies.

    I think i’m going to wait until the litecoin price plummets and then I probably buy some litecoin. I hope that it will pay off in the future by making me more money. I know people that bought bitcoin and sold their house and they are in jeopardy of losing everything they have if bitcoin crashes.

  14. Bitcoin is a cryptocurrency or a type money people use online and it has been getting a lot of attention lately because the bitcoin value has increased by about 1,900% in 2017 which means people who have already invested in bitcoin are making a lot of money.
    When Christian Catalini says that we are “witnessing the dawn of a new industry,”
    he means that the we are investing and analysizing a cryptocurrency, bitcoin, that was recently invented. We are watching how the bitcoin value started and began to increase and mature by a large amount.
    No I am not a bitcoin investor. I have learned that cryptocurrency is an online investment and that bitcoin is used in cryptocurrency and its value has recently increased by a large amount. It is curently very expensive to invest in cryptocurrency and the people who have already invested in cryptocurrency, they are making a lot of money, although it can decrease at any time.

  15. Bitcoin is the world’s first decentralized digital cryptographic currency. This cryptocurrency has gotten a lot of attention from the press because in the last year its worth has grown 1,900%. This has made the bitcoin reach new heights. Many people have begun to invest due to so many people gaining money from this coin. I would not invest in bitcoins since I believe that the coin will crash in the next months because at a value so high it is very probable that it would crash.

  16. 1. Bitcoin is a digital cryptocurrency. Bitcoins can be used to purchase items as if it were in other currency like a dollar or a euro. Bitcoins can also be bought like stocks.The worth of bitcoin has increased by 1,900% in this past year. It has reached a worth of about $20,000 for one bitcoin.

    2. What he means is that now cryptocurrency is becoming so big that it will soon be it’s own industry. It will end up being so important like the stock market is to many. It will soon be it’s own branch of economic activities.

    3. I am not a bitcoin investor or user. I feel that Bitcoin is reaching it’s high point and that at this time, it is good to sell and not buy into it. The hype around bitcoin currently is making the call go up but it will soon drop.

  17. What is bitcoin and why has it been getting a lot of press lately?
    Bitcoin is the world’s first decentralized digital cryptographic currency that is traded on different exchanges around the world and at the same time it is completely decentralized. It has been getting a lot of press lately because its value has grown exponentially over the last couple of months.
    Expert Christian Catalini says that we are “witnessing the dawn of a new industry.” What does he mean by this?
    Christian Catallini is saying that thanks to Bitcoin a whole new cryptocurrency industry is forming. Other cryptocurrencies like Ethereum or Litecoin are becoming increasingly popular and these other cryptocurrencies is whats allowing this whole new industry to consolidate in a whole new form.
    Are you a bitcoin investor and/or user? If so, tell your story in the comments section of this article. What have you learned about cryptocurrency that you can share with us?

  18. Bitcoin is the world’s first cryptocurrency. It has been getting a lot of press lately because of its insane increase of value. A lot of people have been talking about it because of how much it is worth.

    Christian Catalini means that the cryptocurrency industry is going to blow up soon and become a widely accepted form of currency.

    I am not a bitcoin investor or user but I know of people that have invested in bitcoin and have had tremendous success but I have also known of people that have not done so well with it. I may invest into a different cryptocurrency myself sometime soon.

  19. Bitcoin is a Digital Currency, which was created as an alternative to the currency we are familiar with. Basically it is a currency which is not managed by a central bank, so no central bank/Government controls or regulates the currency, it is controlled and regulated by the owners of the currency itself. As the currency is based on an open-source code which can be reviewed by anyone. It has been getting a lot of press lately because it blew up. Anyone who invested in it early made tons of money by now. Christian Catallini is saying that because of the blow up of Bitcoin other cryptocurrencies like Ethereum and Litecoin are becoming popular and well known about. I am currently not a Bitcoin inventor or user. To me this is a high risk, cause you never know whats gonna happen it might go up and down. You need a lot of patience for this. But as of now I am not willing to invest in this cryptocurrency.

  20. Bitcoin is an online cryptocurrency, which is was invented for investors and to stray away from the currency we know about. Its blowing up due to people proving they can make hundreds of thousands or even millions of dollars from it. Catallini is saying this because cryptocurrency is going to be the new era and we may never talk about our current currency again. I am not a bitcoin user.

  21. Bitcoin is an online currency that has blowed up recently because of it’s success and how people are making a lot of money from it. It was made so investors could stop using the currency that we know today. Catallini is saying how because of this new and upcoming currency, that we may never hear about our current currency again. I do not and have never used bitcoin.

  22. Bitcoin is the world’s first decentralized digital cryptographic currency. It is blowing up because people use bitcoins to make money.
    It means that because of this new currency, people might never hear about our currency again. With this currency, people will never hear about the old currency.
    I am not a investor/user of bitcoin.

  23. Bitcoin is a cryptocurrency, and it has gotten a lot of attention because its value has soared up to 42,000% from when it first came out.
    What the expert means that a new industry is coming is that Bitcoin and cryptocurrencies are something new and will replace other currencies that we have now.
    I am not a Bitcoin user or owner but I think in the future it might be a good investment to get into especially if Amazon starts accepting it.

  24. 1. Bitcoin has gotten a lot of attention because its being a crypto currency that blew up.Who invested in bitcoin, made a ton of money. Bitcoin went up to nearly $20,000 for one bitcoin.

    2. When he says ” A new industry” he’s referring that is a new way of money, a new and powerful era, generation.

    3. I’m not an investor or user of bitcoin

  25. 1. Bitcoin is a digital cryptographic currency. It can be used to buy things online or just invest in it. Its a normal currency just like if you have dollar, gold, etc…
    2. By saying this he means that we are living a time of advancement and changes in the online cryptographic currencies and in the economy.
    3. Im not a bitcoin investor/ user. But my father invests in it and we can see that the bitcoin market is something that either you can win a lot of money or lose a lot. Its not a stable market its always going up and down the prices, and from the online currencies bitcoin is the one you use for almost everything, and with bitcoin you can also buy other cryptographic currencies.

  26. Bitcoin is a famous cryptocurrency that circulates in our world, or better, in our technology. The way it works is by a peer-to-peer connection confirming the transactions in the blockchain. No government controls the Bitcoin; it’s store on your computer. The technology assures protection and privacy by cryptography.
    It’s crazy how Bitcoin grew so much during its creation.
    Expert Christian Catalini talks about it as an incredible innovation, a new way of money and generation.
    Unfortunately, I’m not a Bitcoin user, but I like it very much. On January of 2017, the price for one Bitcoin went down to $800, I was certain about its growth in 2017, however, I didn’t take the risk.

  27. 1. Bitcoin is the world’s first online currency. It’s been getting a lot of press lately because its value has been increasing over the years.

    2. He means that Bitcoin is the start of a new thing. If it turns out successful, it could turn into a company or business.

    3. I am not a Bitcoin investor. I would love to be because I would probably make a big profit.

  28. 1. Bitcoin is the world’s first decentralized digital cryptographic currency also known as cryptocurrency. It has been getting attention because its value has grown a lot.

    2. Christian Catalini means that types of cryptocurrency like bitcoin will be more used in the future and companies will start using it as well because bitcoin has been growing rapidly.

    3. I am not a bitcoin investor or user but it would be cool to be one. Maybe I will start investing in the future.

  29. 1. Bitcoin is a cryptocurrency that is blowing up by how much money is it worth now.
    And also the first decentralized digital cryptocurrency.
    2. Christian Catalini says that the currency is a start of a new thing. And will be used more in the future.
    3. I am not a bitcoin investor nor a user but it would be in my interest to start a currency like it. I will maybe start investing in one later in the future.

  30. Bitcoin is the world’s first decentralized digital cryptographic currency. This cryptocurrency has gotten a lot of attention from the press because in the last year its worth has grown 1,900%. This has made the bitcoin reach new heights. Many people have begun to invest due to so many people gaining money from this coin. I would not invest in bitcoins since I believe that the coin will crash in the next months because at a value so high it is very probable that it would crash.

  31. Bitcoin is the world’s first decentralized digital cryptographic currency that is traded on different exchanges around the world and at the same time it is completely decentralized. It has been getting a lot of press lately because its value has grown exponentially over the last couple of months.

    But we also have to know that bitcoin could crash at any point and if you invested all your money there is also a big chance that you could lose it, so to make sure you are able to make money the best way is not to really in one coin but to invest in multiple or different types of coins so that way if one goes down the other ones could be going up guarantying that you will not lose as much money.

  32. Bitcoin is a decentralized digital cryptographic currency that is sky rocketing. The reason it is getting a lot of press or attention is because of how much worth it has gained in not that long of a period of time.
    What Christian Catallini means by “witnessing the dawn of a new industry” is we are watching just the start of this industry.
    I am not a bitcoin user or investor but, if bitcoin continues to grow maybe I will become one.

  33. Within the recent year, Bitcoin along with other of the hundreds of cryptocurrencies have seen a large increase in price partnered with popularity. These unregulated digital currency work somewhat similar to fiat currency except for the fact that a government doesn’t regulate its supply, but rather these bitcoin “miners” are those that add this currency to the supply. These miners verify previous bitcoin transactions resulting in them receiving bitcoin for their work.
    Calling this “the dawn of a new industry” is no joke. Mining pools, or groups of miners who pool computing power and share profits are already being created, along with impacts on multiple tech stocks, especially those that create hardware that can be used to mine these currencies. While there are many nay-sayers, bitcoin has already led the way for many other cryptocurrencies and the start for government debate on their position on bitcoin.

  34. 1. Bit coin is the first ever decentralized digital cryptographic currency in the world. Its worth per bit coin keeps rising endlessly. Which is why it gets a lot of attention fro the press.

    2.Expert Christian Catalini means that sooner or later we will no longer have paper money but in stead digital cryptographic currency.

    3. I am not a bit coin investor but I sure would like to be someday.

  35. Bitcoin is a form of digital currency. The big idea behind bitcoin is a newly arising industry called “blockchain”. A form of digital currency that is used to make transactions without the middleman. Critics view bitcoin as a form of decentralization from the government. Bitcoin at its peak was getting people richer and richer overnight. However, in some instances, bitcoin would drop crazy percentages. Thus gaining the interest of professionals and regular citizens. A form of investments going from a couple cents to 20 thousand dollars is not a common investment you come across.
    Many experts in the investment industry are starting to get involved with the idea of Bitcoin. Some may argue this is a start of a new industry since Bitcoin has been a hot topic for the last year and still ongoing. When the phone and internet industry launched most people believed it wouldn’t work out. However, it came to influence our world like no other creation. The same concept applies to Bitcoin. Some may claim the “hype” is over, but others still argue Bitcoin is only getting started and will be part of everyday life soon.
    I am a frequent investor and trader of cryptocurrencies. The technology behind cryptocurrencies is amazing; However, there are sketchy bits to it such as illegal transactions. Also, many people are getting scammed by fake “initial coin offerings” also referred to as ICOs. Coming from an investors point of view, Bitcoin is a good investment in the current market as the price and hype is settling down coming to its true value. However, we must always question is Bitcoin being used for its sole purpose? Bitcoin was first created to be implemented in the blockchain. Creating a currency where we are decentralized from the government. However, due to the high returns. Bitcoin is not being served for its sole purpose, but rather as a quick investment. In terms of past instances, when products are not being used for its reason of creation, it ends in bad results. I’ve made large sums of money with Bitcoin and I am still in the process of considering starting a blockchain implemented company at the age of 16. I would recommend potential investors to invest only if they believe in the blockchain. Anyone who believes they will make a 1000 percent annual investment or quick money from Bitcoin is better off staying away from it.

Join the Conversation