Street Vendors Get In On Bitcoin
But is it a bubble?
And this one from Kuching, Sarawak. They accept Bitcoins for Nasi Kandar.
I am not sure about whether it’s a bubble. It might be. When people ask my what my opinion is, I tell them, “This new world is based on everything-Internet-everything-connected-everything-mobile-everything-apps. But it won’t last. It might explode. It might go down in flames.”
I usually get a few wary looks when I say those words.
And so my usual reply: “When the world is in war, when there is disaster and chaos, where will your Internet be? Where will your electricity be? Will your mobile phone have connectivity or even a line? Can you get data?”
I think there are people making a lot of money from this cryptocurrency boom. It might be a bubble, or it might not be. But those who got in early, and put their money in, have probably reaped huge dividends by now. They have probably seen their investments double, triple or even quadruple. But if they don’t cash out, it remains only paper balance.
As a Malaysian, you should know what happened when the Japanese lost the war. A lot of paper money, issued by the Japanese government, became worthless. History books are full of pictures of “banana money”. Cryptocurrency could be the next banana money.
And yet there is a boon for society.
My thoughts on ICO’s and ITO’s
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