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Showing posts from December, 2017

Cryptocurrencies

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I am usually an early adopter when it comes to technology. Ever since the iPhone 3, I have always been able to get my hands on the new phone on launch day. I started using ebay before it became popular - in fact, I was already playing with the early text version of the internet in my youth before it became the way it is today. Naturally, with all the publicity given to cryptocurrencies, I have been toying with the idea of investing in it for some time now. To date, I still haven't taken the plunge, mainly because of ... well, education. While it is clear that some people have made money from investing in cryptocurrency to date, I simply have trouble understanding how the value of, for instance, bitcoin reconciles with the value of goods and services that can be exchanged with the currency. Also, I can't understand how the currency can meet our needs in the real life economy - as we produce more value in the economy, the currency supply needs to expand with it (simply ...