Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
OR
Please fill out the required fields Please fill out the required fields Please fill out the required fields
Get Into Cryptocurrency Trading Today
Would the crypto revolution be the financial system of the future?
For Niall Ferguson, British economic historian, the answer to this question is indeed "yes". Some researchers in the field of virtual currencies think like him that this revolution will exceed the current banking system.
First of all it must be said that Niall Ferguson is a renowned historian who has published about fifteen books. Among them, "The House of Rothschild, or" The Ascent of Money ".
Last Tuesday, he gave a seminar at the Bank of England on the theme: "The financial crisis of 2008".
In conclusion of this seminar, Ferguson explained that Bitcoin was a real challenge for the current system of fiduciary money.
He said: "Today's financial system is not fundamentally different from the pre-crisis financial system, except that the big banks are better capitalized, and I do not think that much else is The novelties, the things that will really count in ten years, are still relatively modest: whether bitcoin or cryptocurrency in general or the massive revolution of online payments that the big Chinese technology companies are making, it's is the financial system of the future, and it is still small enough not to be important in 2018. In summary, I have the feeling that the arrival of the next crisis is only a matter of time. "
Ferguson had already talked about cryptocurrency in 2017.
He wrote: "At some point, there is no doubt that regulatory changes in the United States will deflate the current bitcoin bubble. But they will not stop, this financial revolution. Think of it this way. The maximum number of bitcoins that can be created is 21miles. According to Credit Suisse, the number of millionaires in the world is 36 million. Their total wealth is $ 128.7 billion. If millionaires collectively decided to hold only 1% of their bitcoin wealth, the price would not be $ 15,000, but more than $ 60,000. If they increased that to 5%, the good price for bitcoin would exceed $ 300,000. I'm not saying that's certain. I'm just saying that my teenage son thinks it's possible. "
Ferguson also analyzed the explosion of the ICOs and warned against the scams they might sometimes represent: "I wish I had a Bitcoin for every fake" white paper "that was shown to me in the last six months, by people trying to raise money before the SEC acts, "Ferguson said last week." When there is no settlement, then the scammers are very quickly on the scene. "
But Ferguson is not the only one in the academic world to say that Bitcoin is shaking up recent economic history.
For example, Professor Robert Shiller, Nobel Prize in Economics in 2013, who published an article last Monday. In this article, the Nobel Prize explains that the craze for Bitcoin is in line with previous attempts to reinvent the currency.
Create a FREE account and...
Manage your own Watchlist
Access all education lessons
Converse with other crypto enthusiasts
Be a part of the Interactive Crypto Community
ALL
TRENDING
WATCHLIST
Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.
{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Symbol
Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.
24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.
Trade
{[{ item.name }]}
{[{ index + $index}]}
{[{ item.pair.split('_')[0] }]}
Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%
Binance´s Launchpad Gears Up Tor Arkham Token Sale, Starts Recording BNB Balances
5 months ago | Benzinga
Arkham´s New Crypto Intel Trading Platform: A Game Changer For Traders?
5 months ago | NewsBTC
Bitcoin Could Rise to $120K by End-2024: Standard Chartered
5 months ago | Coindesk
Bitcoin Edges Lower; Bone ShibaSwap Becomes Top Loser
5 months ago | Benzinga
JustBit Casino Review
JustBit Casino, which specializes in virtual currencies, is easy to use because withdrawals are expl...
Huobi Token General Overview
Is Ripple The Cryptocurrency of 2021? - In Depth Review of Ripple XRP
Ethereum Classic Review
Monero General Overview
YouHolder
YouHodler is not just another player in the crypto space; it's a dynamic and innovative company ...
XBO
XBO.com cryptocurrency exchange redefines how you interact with crypto. Designed to make the benefit...
Bithumb
Understanding Bithumb This article highlights what is Bithumb and where it is located. It also di...
Bitstamp
Bitstamp's continued success in the crypto market This article highlights what Bitstamp is. I...
Bitfinex
Bitfinex general overview delves deep into its operations since its inception in 2012 up to date. It...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
Bitcoin is the Financial System of the Future
Would the crypto revolution be the financial system of the...
Bitcoin Cash, Monero and Ripple Price Analysis
BCC/USD Daily Chart Technical...
Truth Behind Money Laundering, Banks And Cryptos
Ever since the launch of cryptos, its role in illegal transactions has been up to question. Most...
Belarus Takes on Crypto
In Belarus, a new law was passed, on December 21st, 2017, which authorized the transactions,...
(adsbygoogle = window.adsbygoogle || []).push({}); Introduction In t...
(adsbygoogle = window.adsbygoogle || []).push({}); Einführung Wenn es um Er...
Mobi
Are you someone who makes international payments regularly using Bitcoin? Or do you travel a lot and...
Bitcoin.com
Bitcoin.com is a free downloadable Bitcoin wallet that allows users to trade and receive Bitcoins. T...
BTC.com
Created by Bitmain in 2016, BTC.com is a leading open-source Bitcoin and Bitcoin Cash storage platfo...
COMMENTS (0)