However, it has been a rocky road since 2009, with serious questions asked of the security involved in trading cryptocurrencies, despite the advent of Blockchain, a public ledger of all transactions kept online for all the world to see.
Of note, the theft of a reported US$65 million of the digital currency from a brokerage based in Hong Kong in September 2016 alone saw global prices fall from around US$620 to around $535 per Bitcoin.
Over the past year, however, reported explosive growth has seen Bitcoin units increase from a reported US$1,000 per coin to as much as $18,000 per unit, with many investors sceptical of such an increase in the online currency’s true value.
The presence of cryptocurrencies continue to expand around the globe, and Phuket is no exception with a range of coins, including Bitcoin, now making their way to our shores.
To this, The Phuket News asks readers in our online poll the simple question, “Do you believe in Bitcoin?”
Responses available are:
- No, cryptocurrencies are nothing like genuine currencies and should not be used – or trusted – at all.
- No, the idea of Blockchain and cryptocurrencies is good, but the existing coins are far from being suitable for use as currencies.
- Yes, cryptocurrencies have their use as long as people are happy being paid in them, but they are not as useful or safe as traditional currencies.
- Yes, cryptocurrencies are the future and should be treated just like other “genuine” currencies.
To vote in the poll, click here.
If your preferred response is not available, feel free to add it in the comments below.
To see the results of our previous poll “Should tourists’ driver’s licences be recognised as legal?”, click here.