Thursday, October 2, 2014
Insights: The Sky is Not Falling: Reflections on My 16 Months in Bitcoin
Story by Michael Terpin
For today's Insights and Opinions section, we've got a look at the current world of Bitcoin, from (now) Bitcoin expert Michael Terpin, who talks about his journey from his first introduction to Bitcoin to today--and what it offers up for LA startups.
It's been a little over 16 months since I first set foot in my first bitcoin convention in late May 2013. As I'd noted in a socalTECH post right after I returned, I thought bitcoin and cryptocurrency was poised to grow dramatically, disrupt economies and increase in value. It was $120 per bitcoin way back then, down from its “all-time high” barely a month earlier of $266. The price of bitcoin continued on its downward slope for much of the summer of 2013, weathering such controversies as "would California make the Bitcoin Foundation register as a money transmitter" (no) and "what can you buy with bitcoins" (not very much back then). (More...)
Read the rest of The Sky is Not Falling: Reflections on My 16 Months in Bitcoin from Michael.