To Be or Not To Be - Bitcoin and Cryptocurrency

Bitcoin To Be or Not To Be?

Evgeny Chereshnev, CEO and founder at Biolink.Tech has told Express.co.uk that bitcoin's future is as a means of payment, and not as a investment.

He said: "Cryptocurrency is just a set of numbers, in the same way as money is just a piece of paper until it’s accepted as payment. When these sets of numbers are accepted by someone as payment, it changes everything."

My Thoughts: Bitcoin is slow to transact with compared to smaller cryptocurrencies. With time Bitcoin may be used for large transactions, cannot see reason into why not using Bitcoin could not be used as a form of investment.

Not so, says David Sapper, COO at Blockbid.

He told Express.co.uk: "I believe that the hype has barely even begun. Only 1 percent of the global population owning any cryptocurrency and news of banks and financial institutions looking incorporate blockchain technology and invest in cryptocurrencies, I think there will be a more mainstream adoption in the coming 18-24 months.

My Thoughts: Cryptocurrencies are going to play into a large variety of different markets, the industry in new age technology has only just begun. Blockchain remains constant, when people are invested it will grow due to ease of use, payment facilitates a seamless payment process on all devices, gaming online. Why is the worst always assumed before it has even started? Happy to agree with this statement.

Plutus founders Jasper Tay and Danial Daychopan told Express.co.uk that "many of the companies within the crypto space will not be here in a year’s time."

Mr Tay said: "It is hard to say which digital currencies will stand the test of time. "Coins with utility value that have a use case will be mostly to stick around. Currently with market saturation I predict that many of the companies within the crypto space will not be here in a year’s time, leaving the strong to thrive in a more regulated environment.

My Thoughts: No-one has a 'crystal ball', how can one surmise the future, there is no evidence as to whether cryptocurrencies will be a success or failure at this point in time. Early adoption may make some companies boom, one must concur many will fail due to various obstacles. To move forward one needs to learn, learning only comes about by using, implementing and testing.