"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.
So, is the Bitcoin bubble about to burst?
It has just begun, it is way too big to fail now. I think that even if Bitcoin ad failed, the Blockchain technology helped pave the way for others to add onto the code and inspire to create their own. That is the beauty of making the code open source, it stays true to the pioneering way, the stuff real innovation made from, the collective effort. Collective effort driven by the good old spirit of competition breeds inspiration and innovation.