The rise of Bitcoin has been, to say the least, astronomical. Back in 2010 a developer bought two large pizzas from Papa John for the meager price of 10,000 Bitcoins. By January 2018 that would be the equivalent of 150 million dollars. Let’s just admit that you and I are both kicking ourselves for not getting in on the action early. However recently a Morgan Stanley analyst put forth several reasons why all the Bitcoin in the world might actually be worth the grand total of $0.
The main line of argumentation for this opinion is frankly quit solid. As Bitcoin has no interest rate attached to it it’s not considered to be “real currency.” Additionally, Bitcoin is not physical or tangible, like gold or silver, thus having no “intrinsic value.” But perhaps the most important and pivotal line of argumentation is that “if nobody accepts the technology for payment then the value would be 0.”  What this truly means is that Bitcoin has no value if we as a collective do not imagine that it has value. However this is not specific to Bitcoin.Read More