Bitcoin, Crypto currency, Blockchain

Niall Ferguson: Bitcoin is the future of our financial system

For a long time, the widespread opinion was that Bitcoin and crypto-currencies would not represent competition for the current financial system. Nial Ferguson responded to the Bank of England, Bitcoin is part of the impending Revolution and it was only a matter of time when the time for crypto-currencies is here.

Niall Ferguson, Professor of history at Harvard University and winner of multiple best-selling author, believes currencies in the future of Bitcoin and Crypto. Last Tuesday he held in the premises of the Bank of England Seminar, in which he said, among other things, about the future of our money system.

However, he stated that Bitcoin is part of the upcoming “big change” in the financial monetary system and the crypto-currencies like Bitcoin could overtake the traditional System. Furthermore, he warns that we are translated before a crisis are not different in their nature from the last banking crisis of 2008 (free):

If only Bitcoin or crypto currency in General, the massive Revolution in Online payments, which is achieved by the large Chinese Tech company is the financial system of the future, and it’s still not enough to be in the year 2018. In short, I feel that it is only a matter of time, when the next crisis is imminent.

Niall Ferguson pointed to last year, much to the upcoming Changes in the United States and their impact on the economy (freely translated):

Undoubtedly, regulatory Changes in the US will dampen the current Bitcoin bubble. But you will not stop this financial Revolution, let alone undo.

Ferguson is on the under in the meantime many of the academics, the non-stamping of Bitcoin as a fraud or Ponzi scheme, but the true actual value and its effects on today’s time and society, and describe.

Just last week, Robert J. Shiller, a Nobel laureate from 2013, described how Bitcoin has influenced the way of money to re-invent significantly and changed (freely translated):

Virtually no one outside of computer science are departments can explain how crypto-currencies work, and this mystery creates an Aura of exclusivity, the new-money Glamour and fulfilled pendant with revolutionary zeal. None of this is new and, as with previous monetary innovations, can be a seemingly compelling story enough.

Regardless of how quickly the catchment of Kryptowähurungen in the near future, progress is progress, so there is a Consensus, however, that Bitcoin and Cryptocurrencies are not more totzureden and play a key role in our time. Crypto come currencies are here to stay.

The price of Bitcoin moves within the last 24 sideways, and recorded at the time of writing a small back-translated by 1,49 percent to a price of 6.122,31 Euro.

The next time will show in which direction the crypto market will move.

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