Business

Proof of the pudding

The Bitcoin price is on the move. What’s going on?

15 May 2019

As I write this in the first week of April, the Bitcoin price had begun to rally, and with it, a number of media reports are attempting to explain what it means. Some manage this more successfully than others.

Here’s Gizmodo: ‘To be clear, Bitcoin is absolutely worthless by any real measure. It’s fake money that’s about as practical to use in the real world as Monopoly bills. Bitcoin is backed by nothing and requires tremendous amounts of energy to mine using computers.’

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