Bitcoin has been around since 2009. Relatively speaking, a binary code zygote in comparison to the likes of the Internet, which has been around since the early 1960s, space travel since 1957, or Artificial Intelligence since 1956. The evolution of a new technology needs time to find its place in our everyday lives and reach mass adoption. An alternative form of currency which threatens to challenge the current financial system is particularly prone to facing many barriers along its path to mainstream adoption. These barriers can result in extreme volatility, something synonymous with Bitcoin and cryptocurrencies.
To understand the reasons why Bitcoin and cryptocurrencies experience such high volatility, it’s important to be aware of the various factors affecting the price swings that occur in these markets. What does the future hold for this alternative form of currency? Is it accurate to closely associate the word ‘volatility’ with Bitcoin and cryptocurrencies?
Gareth Cliff speaks to Ran Neu-Ner, founder and CEO of crypto investment and advisory business, Onchain Capital, to get his thoughts on the topic and hear more about his crypto journey.
Key takeaways:
- In order to get mass adoption of a technology we need to create awareness and headline-grabbing price rises as we saw in 2017 can spread awareness about the technology.
- Blockchain technology is not going away and it’s important to look at the bigger picture, ignoring volatility over the short-term.
- By creating a decentralised distributed ledger where transactions can be immutably recorded, we can increase transparency and security.
- Buying stocks can be complicated but with cryptocurrencies, anyone is able to quickly set up a wallet.
Link to full episode: https://iono.fm/e/609416
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