Atulya Sarin : Bitcoin Value : MarketWatch
Professor of Finance Atulya Sarin recently wrote a piece on bitcoin's price drop which is relatively important when considering the future of bitcoin. Sarin suggests that if the price falls below the cost of mining, bitcoin will lose it’s value. While bitcoin currently holds first mover advantages in the cryptocurrency industry, bitcoin faces the threat of potential competition coming into the cryptocurrencies market and surpassing them.
An excerpt from the article:
The real concern is that if the price of bitcoin continues to fall, mining will become infeasible, and without enough participants providing the computing power to record the transactions, the transactions will be infeasible and bitcoin will become worthless.
Read the full article.
Learn more about Professor Atulya Sarin.