BITCOIN EXPLAINED: HOW CRYPTOCURRENCIES CAN FLOURISH OR FAIL

Having been up most of the night doing 'research' online, Wilson called me into the kitchen so he could present his findings.

Referring to his flipchart, he began:

❝ In March 2010 one Bitcoin was worth 0.2p ($0.003)
Just before last Xmas it was worth £12,580 ($17,000).
If I had bought just 98 Bitcoins in 2010, at a total cost of £0.22 (¢.030) I would be a £ millionaire by now...❞

'Is that really true?' I asked, shocked by his figures. 'Just ONE Bitcoin's value increased from less than a penny to... more than £12,000?'

I can give you the figures in Euros, if you prefer, he replied.

'To be fair,' he continued, 'there was a massive devaluation event just before Xmas, where it lost a third of its value in 24 hours... but that is irrelevant, because this isn't about Bitcoins...'

'It's not?' I asked, shocked by this sudden and unexpected change in direction.

'Bitcoins,' he continued, 'are History – the Big Money has already been made! I'm talking about something else entirely – something so new I've not even quite finished inventing it yet...'
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