On this episode of The Anthill podcast from The Dialog, we’re delving into the world of Bitcoin. The cryptocurrency has come a great distance since its launch by the mysterious particular person (or individuals) Satoshi Nakamoto in 2008. The worth of 1 Bitcoin hit a peak of greater than US$19,000 in December 2017. It has since fallen under US$9,000.
Bitcoin has made numerous headlines over the past yr, however will or not it’s the foreign money of the long run? To search out out, we spoke to professor of enterprise historical past at Bangor College, Bernardo Batiz-Lazo, about what makes cash cash. He shared his doubts about Bitcoin – or some other cryptocurrency – going mainstream anytime quickly.
And Larisa Yarovaya, lecturer in accounting and finance at Anglia Ruskin College, explains a few of her current analysis into the impact of US coverage bulletins on totally different cryptocurrencies. Her findings give some insights into whether or not or not they make good property for funding. She additionally tells us how cryptocurrencies reply in numerous methods to the US greenback and gold.
For a lot of, one of many massive appeals of cryptocurrencies is the truth that they aren’t regulated by any governments. However totally different international locations have responded in wildly alternative ways to the rise in recognition of Bitcoin. Preliminary coin choices have been banned in South Korea, the place regulators are contemplating shutting down native cryptocurrency exchanges. In the meantime, the specter of regulation in China and elsewhere lately triggered a big slide in Bitcoin’s worth.
Russia, nevertheless, has been a hotbed of cryptocurrency innovation, the place President Vladimir Putin desires to create infrastructure for the nationwide adoption of digital cash. And in Sweden there’s discuss of releasing a nationwide cryptocurrency.
The Dialog’s know-how editor Kelly Fiveash spoke to lawyer Iwa Salami on the College of East London and Brian Lucey, finance knowledgeable at Trinity Faculty Dublin, to take a more in-depth have a look at what totally different governments are saying – and doing – about regulating cryptocurrencies.
Bitcoin has are available in for some harsh criticism for the quantity of vitality it takes to confirm each transaction concerned – a course of that has been dubbed “mining”. This entails massive quantities of energy-guzzling pc energy.
Will de Freitas went on a search to search out out whether or not there may be a extra sustainable technique to make cryptocurrency sooner or later – by constructing greener computer systems. Alongside the way in which, he spoke to physicists Oscar Cespedes on the College of Leeds and Heiner Linke at Lund College, about whether or not the computer systems of the long run may be higher for the setting.
The Anthill theme music is by Alex Gray for Melody Loops. Music within the section on state response to bitcoin is Tech Toys, by Lee Rosevere. And music within the inexperienced computing section is Distilled, by Nctrnm.
Click on right here to take heed to extra episodes of The Anthill, on themes together with Intercourse, Rising Up, Myths, and Ache.
Thanks to Metropolis, College of London’s Division of Journalism for letting us use their studios to file The Anthill.