Bitcoin Not Currency, Never Will Be: Expert Blog

Expert Blog is Cointelegraph’s new series of articles by crypto industry leaders. It covers everything from Blockchain technology and cryptocurrencies to ICO regulation and investment analysis. If you want to become our guest author and get published on Cointelegraph, please send us an email at mike@cointelegraph.com.

It would appear that 2017 could be fairly called the Year of Bitcoin. The most popular and thus valuable cryptocurrency has been breaking record after record this year. On 8 November, 1 BTC was trading somewhere around $7,700; at the beginning of the year it was worth about $960). Crazy.

However, due to the fork that did not happen (and the Bitcoin community was rather looking forward to it, as the intended development should have increased the speed of transactions), the market reacted harshly. Bitcoin quickly lost quite a chunk of its value. At one point in time, it was as low as $5,600, but at press time had rebounded to $7,200. Hence, it is growing. Again.

Despite…


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