Bitcoin, Crypto currency, Blockchain

Wikipedia founder Jimmy Wales: “crypto world is absolutely, definitely in a bubble”

Jimmy Wales, co-founder of Wikipedia, has expressed in his opening words of the second conference day, the Blockchain-fair block show this week about the future of crypto-currencies. Currently, the industry is definitely in a bubble. Still, you could not know, however, what time is this place.

When Wikipedia co-founder Jimmy Wales sees it that way, it will vote early: We are currently in a bubble. The native Americans said, at least in the case of the block show in Berlin: “at The Moment we are in a bubble. The crypto Community is definitely in a bubble. I don’t think there are many people who doubt it.“ He also said that investors should beware of if the bubble would burst. You know never when this is the case. In addition, the whole scene is in urgent need of “real journalism”, the information situation is at the moment and everything else as well.

Previously, the 51-Year-old was seen not just as a Fan of the crypto world. Recently for example, he had referred to in October, Initial Coin Offerings, so-called ICOs, as an “absolute Scam”. His company, Wikipedia operates, however, is much less critical. Since 2014, the free Online encyclopedia willingly accepts donations in the Form of Bitcoin.

Block-show-2018 – Blockchain in the Mainstream?

In addition to Wales, were in the course of this year’s cryptographic fair block show in 2018 the beginning of the week, numerous representatives from business, politics and information technology in Berlin come together to discuss the future of the Blockchain technology.

In the Panel “Getting Blockchain Investments Mainstream in 2018” for example discussed by participants, among other things, how the Blockchain to the Mainstream-breakthrough helped could be. The main objective is to move traditional institutional investors to jump in the crypto world. Just emerging countries could play a major role, the participants agreed. Other topics covered include, among other things, the Blockchain were application in the Internet of Things, Artificial intelligence, or political perspectives of the regulation.

Boom or bubble – Bitcoin-skeptic high

Off-the-block show, Jimmy Wales, is with his critical prognosis not alone. In the face of declining rates, more and more well-known figures in this year, particularly in the institutional financial system with estimates of word. At the beginning of the month about railed Warren Buffet, Charlie Munger and Bill Gates against Bitcoin, ICOs and crypto-currencies.

Here, the allegation of a speculative bubble is not new, but accompanied the rise of Bitcoin is steadily increasing.

Who would like to set to form your own opinion and more with the phenomenon of speculative bubbles in the crypto world, please refer to our series “Bitcoin and bubbles”. In our three-part series, we explore what makes bubbles of speculation that the Bitcoin is currently in a bubble, and how the future might look like.

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