The excitement of acquiring virtual currency is reminiscent of the stock market and speculative bubbles of previous centuries, coupled with technology.
On the streets of New York in 1929, taxi drivers, shoe shiners and even beggars were offering stock market advice to anyone who wanted to hear it. Those who listened to them were the first victims of the October crash of the same year. Today, the stars took on the role and added some tech to spice up the promise.
About 200 adventurers including the Eternals Paris Hilton and Jamie Foxx, boxer Floyd Mayweather raised funds through cryptocurrencies such as bitcoin or ethereum, which exist only on the internet, not owned by any country, not regulated by anyone. It seems to be working: The pioneer of this new type of market call called ICO (Initial Coin Offering) is set to raise nearly $3.5 billion (€3 billion) this year.
Bitcoin mania has reached unexpected heights. Listed on IT platforms such as IG Group, the current market value is close to $10,000, an increase of 850% in one year.
Apparently enough to turn heads. Because the stock market, whether it offers stocks, wheat, or currency, runs counter to traditional economies. The higher the price, the more buyers. Until one day… This is how bubbles inflate, sometimes on very exotic supports, 17th century tulip bulbs, 19th century guano, 20th century stocks, 21st century debt products… less profitable traditional investments. This is what is currently happening with zero interest rates and the stock market at stratospheric levels, especially in the US.
Terrain is particularly favorable for skidding
No wonder, in this age of the digital revolution, interest is focused on algorithms. Some people think they found the Philosopher’s Stone with Bitcoin and its simulator. A completely virtual currency linked to the technology “blockchain”, considered immutable because it is based on a network of millions of decentralized computers that verify the existence of a unique and theoretically inviolable Every transaction entered on-chain. Made for web enthusiasts, this currency has grown far beyond its popularity and is now recognized by major stock exchanges such as the Chicago Board Options Exchange, the ideal place to create sophisticated financial instruments to facilitate exchanges..