Still a lot of discussions about the future of bitcoin and cryptocurrencies surrounding in scientific community. Aren't experts yet convainced that bitcoin is a reality?
In an interview for CNBC,
Robert Shiller the professor at Yale University expressed his rather negative sentiment towards Bitcoin and other cryptocurrencies, saying:
To me its another example of faddish human behavior.
Link to the interview:
https://www.cnbc.com/2018/05/21/bitcoin-could-be-another-failed-currency-robert-shiller-says.htmlShiller consolidated his opinions on Bitcoin and other cryptocurrencies in a long post from where i prefered to take this note:
Practically no one, outside of computer science departments, can explain how cryptocurrencies work, and that mystery creates an aura of exclusivity, gives the new money glamour, and fills devotees with revolutionary zeal, [
] None of this is new, and, as with past monetary innovations, a seemingly compelling story may not be enough.
Link to full article:
https://www.project-syndicate.org/commentary/cryptocurrencies-scientific-narrative-by-robert-j--shiller-2018-05Don't be negative towards statments like these. Because if we are looking about the hype and pump and dump shcemes that are all over the space and with large number of speculation in place you can actually look at this as a bubble and there is nothing wrong with that. I mean look at the tech bubble back then people were throwing money at new companies and now if you look at the ICO market people are throwing money because they think it is easy to get great returns.
However if this bubble pops many alts that are basically shitcoins will suffer letting big dogs such as bitcoin, ethereum, neo etc. to be winniers in the scene.