IT-BUSINESS podcast: Bitcoin: mass adoption or adaptation?

Hear what moves the ICT industry – episode 62 IT-BUSINESS podcast: Bitcoin: mass adoption or adaptation?

Economist Milton Friedman predicted in the 1990s that trustworthy private money would emerge from the Internet. How is bitcoin doing, what aspects are often misunderstood, and what might the future hold?

suppliers on the subject

The IT-BUSINESS Podcast provides fast-paced and entertaining information on the most exciting topics in the key digitization industry.

(Picture: Vogel IT-Medien GmbH)

Satoshi Nakamoto – no one knows who it is or if there might be a group behind it – published the Bitcoin white paper “Bitcoin: A Peer-to-Peer Electronic Cash System” in 2008 and a benchmark implementation in 2009.

By the way, the name Satoshi Nakamoto sounds like Lieschen Müller or John Doe, so it is recognizable as a Japanese pseudonym for an average citizen’s name.

Digital gold and partial legal tender

Since then, a lot has happened around cryptocurrency, which is increasingly becoming the focus of institutional investors, payment service providers and investment banks. You can even pay taxes with it (eg in Miami, USA). And more and more cryptocurrency is recognized as legal tender (e.g. in El Salvador). Whether the process is called “mass adoption” or “adaptation,” the Bitcoin network and cryptocurrency (also: “Magic Internet Money”) are losing their “bubble” reputation as they become more integrated into society. , economics and regulation. Politics.

The professionalization of the Bitcoin ecosystem

Bitcoin a few years ago was much less valued by the market simply because it wasn’t as established as the asset class it is today. An asset class for which there are already physically stored ETFs and ETPs – i.e. financial products aimed at institutional investors who can invest at scale using common investment vehicles. Crypto custody licenses are issued to banks and service providers in a regulated manner, processes are defined, deposited bitcoins are insured against the risk of theft and much more.

Seven controversial questions

However, many aspects are full of misunderstandings. This podcast deals with seven questions related to the subject:

  • 1. Where do Bitcoins actually come from?
  • 2. Is Bitcoin a Ponzi scheme?
  • 3. Why does the Bitcoin price fluctuate so much?
  • 4. A bitcoin is now so expensive that many will not be able to afford it?
  • 5. Does it really mean adopting or adapting bitcoin and what does it mean?
  • 6. Will the Bitcoin price continue to rise?
  • 7. Is the Bitcoin network bad for the environment because it consumes too much electricity?

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