What is it about bitcoin traders? Or should I say cryptocurrency investors? They have taken an absolute walloping on the currency market this week, but bitcoin 2016 news stories the ABC spoke to remain resilient, determined to see their investments through. Here is what some of them had to say.
Sydney’s northern beaches, and claimed investors were still banging down the doors to get in on the bitcoin action. So we signed up around November, and it was quite easy then, but it’s gotten a lot harder,” he said. To my understanding there’s so many people trying to get involved that there’s just like a backlog of people just trying to get verified. Leading economists say bitcoin will never replace government-backed currencies, and it’s a massive bubble that will pop. So why are traders in the cryptocurrency not worried? Is there something they know that we do not?
Adam said he was not so interested in cryptocurrencies as such, but he was a believer in the technology that was behind them. I’m in it for the long haul,” he said. Yeah, I think it’s going to be in everyone’s life. Adam is confident the technology itself — which is capable of removing banks from financial transactions, for example — will take off in years to come.
Phillip Dundas The faith in the power of the technology extends all the way to epicentre of world financial markets. Phillip Dundas is the head of technology at an investments bank on Wall Street, and he is also into cryptocurrencies. Not unlike a lot of other people, I got swept up in the craze in about mid-December and made some fairly substantial investments at that time,” Mr Dundas said. I invested in bitcoin, bitcoin cash, Ethereum, Stellar, and a couple of the other fairly small alternative currencies as well.