Intelligence Squared US: Is Bitcoin More Than a Bubble?
Is Bitcoin here to stay, or is it a bubble waiting to pop? Less than a decade old, Bitcoin is worth billions. The cryptocurrency promises to revolutionize global finance by placing control of currency in the hands of users, not nations, and make financial exchanges more transparent, efficient, and democratic. But is Bitcoin really a safe bet? Proponents say the hype around the cryptocurrency is warranted, and previous critics – including executives at JPMorgan and Goldman Sachs – are increasingly jumping on the Bitcoin (block)train.
On the other hand, skeptics suggest this highly volatile digital currency offers a platform for illicit activity, including money laundering and trafficking of humans and drugs, free from government oversight and regulation. And, they argue, Bitcoin has no intrinsic value – the price is based on market enthusiasm rather than actual utility.
Intelligence Squared US: Is Bitcoin More Than a Bubble? with debaters Patrick Byrne-Founder, Overstock.com & CEO, tZero;Â Tim Draper-Venture Capitalist & Founder, Draper Associates & DFJ;Â Eric Posner-Law Professor, University of Chicago, and Gillian Tett-U.S. Managing Editor, Financial Times.
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