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  • This week's Bottom Line is Bitcoin.

  • China initiated a ban on initial coin offerings, which caused crypto-currencies to stumble this week.

  • The actual ban language from China actually makes it seems like

  • it might be illegal for any crypto-currency exchanges or any transactions of crypto-currencies.

  • Most people don't think that it would be applied that way and enforced that way,

  • but the language is there that could allow that, and that is something definitely to watch.

  • Also this week, Nobel prize winner Robert Shiller, did an interview with Quartz,

  • and they ask him "What's the best sign of irrational exuberance?", "What is the most obvious sign of a bubble?".

  • And he says, "It has to be Bitcoin." And lots of people agree with Shiller.

  • They say there are signs everywhere that Bitcoin is a bubble.

  • Like the story about a lingerie tycoon who's selling luxury apartments in Dubai,

  • that can be purchased via Bitcoin, and is targeted at Bitcoin millionaires.

  • But these apartments have not yet been bought by any Bitcoin millionaires,

  • and don't actually have any connection to the Bitcoin community.

  • So you can't exactly point to it, and call it a sign of the Bitcoin bubble.

  • Right now it's just the first real estate development that we know of that accepts Bitcoin for payment,

  • which could actually be seen as a sign of the strength and potential staying power of Bitcoin.

  • When my daughter's preschool started accepting Bitcoin this year,

  • the head of the school said they were doing it because people were asking to pay in Bitcoin.

  • Transactions matter.

  • You literally can't become a real currency unless people will accept you in return for goods and services.

  • And that's the Bottom Line.

This week's Bottom Line is Bitcoin.

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B1 US crypto bubble sign bottom line currency week

Shiller says bitcoin is the best example of a bubble in the market today

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    Samuel posted on 2017/09/08
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