UK Academic Larisa Yarovaya informed Cambridge Independent that:

Bitcoin’s popularity ought to be regarded as a “concern for Society.

The local newspaper reported on an ongoing debate on Bitcoin’s fast growing value among Cambridge specialists, whose remarks on the topic very. Yarovaya, a lecturer in finance and accounting in Anglia Ruskin University (ARU), commented on a research on Bitcoin she co-authored in the university.

Specifically addressing the problem of energy Usage for Bitcoin mining, she said:

I think yes we should be worried obviously it’s going to have a negative impact on the environment; it is not an energy-efficient process. The spectrum of Bitcoin’s popularity has to be a concern for a society”

Bitcoin as an exchange
As Bitcoin prices Climbed to over $20,000 in some niches before taking a dip to $13,000, the question arises that whether the crypto-currency’s remarkable expansion is a bubble has enveloped an increasing number of segments of the worldwide market.

Academia has been less outspoken than mainstream Economists and media about the question. But, Yarovaya’s analysis of Bitcoin that appears at the performance of the coin especially as currency makes quite clear-cut conclusions.

“Our evidences suggest that the Cost of Bitcoin was unnaturally inflated by risky investment, putting the currency in a bubble.

Bitcoin as an asset
Others at the Cambridge discussion see the situation differently. Michael Rauchs, head of crypto-currency and Blockchain in the Cambridge Centre for Alternative Finance, noted that if Bitcoin is a bubble or not completely depends on how you specify the coin. His opinion is that as money, in reality Bitcoin is a bubble, since the ARU research states. However, as an investment, it is not necessarily doomed to experience a bubble-like pop.

However, according to Yarovaya, Bitcoin even as an asset or tool for investment is still a bubble. She contended that the digital asset has no true value.

As an investment, the real worth of Bitcoin is possibly zero. It is not gold, but it does not have any legitimate worth. The cost is greater than the actual fundamental value so sooner or later the investors’ preferences (regarding) Bitcoin and crypto-currency will alter along with the bubble burst”

Information analytics CEO Richard Baker, that Predicted Bitcoin prices having some way to go before hitting a summit, due mostly to the launch of futures this month.

Emily Mackaym, other lender at TAB Capital, in the meantime was more vigilant, pointing out that Bitcoin’s performance is very much attached to what people believe on it:

The mention of The Term ‘bubble’ could have a Self-fulfilling effect of moderating requirement also. We are living in an era where anything could happen, so I am not going to attempt and forecast this one.


Author's Bio: 

Ricky Makan is a venture capitalist and Crypto Enthusiast best known for pioneering the market for Digital Marketing. He is a Co-founder of Unkrypted, a platform which provides the latest news and information that helps understand everything about the ever-evolving world of digital currencies. He is been fascinated by Blockchain technology since the first time he heard about it in 2013