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We live in exciting times, where it has become possible to send money across the globe nearly instantaneously, where you can create value out of nothing and where we are working towards a future that is decentralised. The first application that kickstarted this revolution was Bitcoin when it was launched in 2009. Since then, the price of Bitcoin has increased dramatically, reaching $5000 for the first time in September 2017. The news of the Chinese government banning ICO’s resulted in a brief dip in the value of the coin, as well as almost all other cryptocurrencies, but after two days it recovered already. It seems that Bitcoin continues to rise in value, with multiple people predicting that Bitcoin will reach $10.000 by the end of 2017, $250.000 in ten years, $500.000 by 2030 or would even reach a value of $ 1 million in 5-10 years. Obviously, there is a hype going on if such enormous returns are predicted.
However, I believe that Bitcoin will not reach those valuations. In fact, I believe that Bitcoin will ultimately fail and be worth nothing or close to nothing. This will probably not happen in the short term. Most likely the value will keep …
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