‘Cryptocurrencies’; or digital user-generated currencies based on cryptography, or code-cracking a finite supply of coded units, which in turn bestows ownership and commonly agreed value to the person who decodes the unit; may sound like science fiction, but the reality is they are here, and here to stay.
Virtual money is now a reality.
Dion Chang in conversation with BizRadio’s Grant Jansen
PODCAST | Click HERE to listen
Duration: 08:37 | Size: 8.3mb | Format: MP3
Virtual currencies are not just the play things of cyber nerds and computer hackers; they have moved into the mainstream.
If you are smart or lucky enough to own them; you can now buy everything from pizza to consulting services with the world’s first and largest crytopcurrency: Bitcoin.
In fact, according to the Mail and Gaurdian, one New Yorker is trying to sell his two million dollar apartment – for its equivalent value in bitcoins.
But even more importantly, you can now exchange bitcoins on the open market, at a rate of 146.95 US dollars to a single bitcoin. This means the market has recognised the value of this invisible, un-backed currency.
There are already over 11 million bitcoins in existence, collectively worth over billion US dollars.
That’s a lot of value bestowed upon a currency that was only invented in 2009 by an anonymous computer genius.
Their massive value is attributed to their scarcity; bitcoins are notoriously difficult to ‘mine’ (or decode) and the algorithm the currency is based on ensures that only 21 million bitcoins will ever be issued. This means that over time bitcoins could become more valuable than gold.
In fact, it is predicted that in our lifetime, we will see entire luxury homes sold for a single bitcoin.
- We take our bodies to gym! Why don’t we exercise our brains? |#OneEyedMan |#MikeStopforth |#Podcast |#ebizradio | Jacques Rousseau - September 30, 2020
- New Phones enter the RSA Market | eBizTechnology| Arthur Goldstuck| Podcast - September 30, 2020
- Hospitality: From Lockdown, to now and more importantly, going forward | #eBizInsights | Graham Wood of Sun International | Podcast - September 30, 2020
- Why are we as African’s still turning a blind eye to child abuse and neglect, holding no-one accountable? - September 29, 2020
- Why is local no longer lekker? | #eBizWires | Richard Firth - September 29, 2020
- The evolution of email to emerge as a marketing power tool| #eBizWires - September 29, 2020
- New uses for Commercial Office Space| #eBizTrends | Dion Chang | Podcasts - September 28, 2020
- Why cultivating leadership is imperative to every organisation! |#LTL |#KevinBritz | Naomi Basson | Passmore Matupire |#Podcast |#Leadership |#ebizradio - September 28, 2020
- Have you considered living and working in the USA? Reinventing yourself abroad |#LTM |#KevinBritz |#BjornSalsone |Andrea Magni |#Marketing |#Podcast - September 24, 2020
- Vator Pitch? What is it and why do you need one? |#KevinBritz |#LTC |Toyin Ademola |#Podcast |#ebizradio - September 23, 2020
