The upcoming of bitcoin is by random anticipation, nevertheless one study has alert that bitcoin could go worthless in upcoming.

Esward Prasad, senior professor of international trade policy at Cornell University, stated at CNBC "Squawk Box Europe" at front this month:" Bitcoin may not sustain much longer."

The price of Bitcoin has been extremely unstable for the passing few years, and the price of one bitcoin has been reducing from $58,000 to $46,000. At 10.15am ET at Friday, the value of one bitcoin was $45,637.

In the past there was only an selection of few cryptocurrencies, nowadays there are few hundreds of them and they have more application and more environmental savvy than bitcoin.

Behind of most cryptocurrencies, the answer is the blockchain as the core technologies. It is basically a ledger in its digital form of virtual currency transaction, with its distribution across a network of computer globally.

"The efficiency of the application of bitcoin blockchain is not that good." said Prasad who is the writer of "Future of Money: How the Digital Revolution is Transforming Currencies and Finance."

The cryptocurrencies applies a validation mechanism that is environmentally destructive, and its scalability is not that well. It is true that the bitcoin carbon footprint is bigger than the whole of New Zealand.

Prasad mentioned that certain newer cryptocurrencies applied the blockchain more efficiency than bitcoin. Prasad trusted that blockchain technology will be rudimentaly remodel in the method that finance is applied and usage of our daily transaction, like buying car or house.

"It was believe that bitcoin is  not doing well as a medium of exchange, I don't reckon it have a rudiment value in it, other than the faith of the investor that believe in it." Prasad mentioned.

More often than not, cryptocurrencies have triggered and cause the central bank to begins to think about issuing a digital version of their own currencies.

He add on that cryptocurrencies can be advantageous as it may give low cost payment option that  is accessible to everyone, hence increasing financial stability and inclusion.

Whether you like bitcoin or not, it has begun as a revolution that may benefits us either directly or indirectly.



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