Flaws in Bitcoin make a lasting revival unlikely
The latest boom and bust invite comparisons with past financial manias
“BE MORE BRENDA,” said the ads for CoinCorner, a cryptocurrency exchange. They appeared on London’s Underground last summer, featuring a cheery pensioner who had, apparently, bought Bitcoins in just ten minutes. It was bad advice. Six months earlier a single Bitcoin cost just under $20,000. By the time the ads appeared, its value had fallen to $7,000. These days, it is just $4,025 (see chart).
This article appeared in the Finance & economics section of the print edition under the headline “The madness of crowds”
Finance & economics March 30th 2019
- Flaws in Bitcoin make a lasting revival unlikely
- How emerging-market local-currency bonds might fit in your portfolio
- How to solve southern Italy’s unemployment problem
- Why is inflation in America so low?
- The Inter-American Development Bank cancels its big bash in China
- How Argentina and Japan continue to confound macroeconomists
- Slower growth in ageing economies is not inevitable
From the March 30th 2019 edition
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