Professor bitcoin

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Sure, people can disagree, so there is a range of values — but the range is relatively narrow. For a currency, say the dollar or pound, even though they are fiat currencies we have an idea of real GDP growth and expected inflation in both countries and we can come up with a fairly narrow band for the currency value.

For bitcoin, there is no forecasted cash flow, there is no GDP, and there is no collateral. Many believe the true value is zero. This massive range of disagreement surely contributes to the volatility. How risky is holding bitcoin as an asset? There are two dimensions to risk. First, bitcoin is wildly volatile. Since , bitcoin has had seven days that are worse than that. Bitcoin has had 65 days worse than that — and ten of them occurred in alone. Bitcoin does better on the second dimension of risk.

It is relatively uncorrelated with other assets, so it provides a good diversification. Indeed, you could argue in a real crisis where traditional currencies collapse that bitcoin might hold its value because there is no inflation mechanism and no central authority. However, this is just conjecture because bitcoin has only been actively traded since and has no track record in a crisis.

Should you invest in bitcoin or is it just a bubble? Many investors are piling into bitcoin because they fear being left behind. They see some of their friends getting rich in bitcoin and they jump on the bandwagon. Some are borrowing to invest in bitcoin or putting bitcoin into their pension.

I definitely worry about that. Holding any single asset — that is, an undiversified portfolio, is not wise. In addition, the volatility of bitcoin is 6 times the equity market volatility — so beware. If you are speculating, only gamble as much as you can afford to lose. I have no problem with some bitcoin being part of a well-diversified portfolio. What are the threats to bitcoin in the future? With any new technology, there are threats.

To me, the biggest threat will come from another cryptocurrency — Fedcoin. It is just a matter of time before all central banks will use blockchain-based cryptocurrencies. Just as today, the central banks will control the money supply growth. The cryptos have the advantage of keeping track of all transactions.

This will greatly increase the difficulty of doing illegal transactions. I find it extraordinary that 78 percent of the value of U. It is anonymous and untraceable. With most blockchain-based currencies, all transactions are visible. Contact Info For more information contact our media relations team at media-relations fuqua. Developed 38 offices in 10 countries with cost of 5 million dollars and Training sales of 50 million dollars during 3 years.

Developed a real estate construction business that created over 10 million dollars in projects during 3 years… Developed a boat and yacht club in 4 countries with 5 yachts and 12 boats… Developed a Vip Airline business with one 52 passenger plane and two small planes.

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He travel city of city state of state crossing the USA up and down west to east travelling hundreds of thousands of miles by car, planes and ships.