Today, the bestknown cryptosystem, i.e. cryptocurrency is Bitcoin. However, not many people recognise the revolutionary potential which cryptosystems entail — the paradigm shift in many social phenomena, not only those of a financial nature.
Despite being in the midst of holidays, it does not seem like a festive season in the world of cryptocurrencies. Several notable occurrences meriting attention were captured worldwide in recent weeks, predominantly in Russia, North America, and Europe.
Despite the fact that the silly season has already started, several interesting occurrences took place. The most important news comes from the European Union, but also from Russia, Argentina and USA. Let us have a closer look.
The main spark of the thrill was the result of the Brexit referendum, with the Leave vote prevailing over its counterpart. In spite of Brexit not occurring in the foreseeable future, the confusion it generated on financial markets was evident, boosting the cause of cryptocurrencies.
The last couple of weeks bore witness to some interesting news. Headlines generated from ranks of the European Union were complemented by updates from the realm of new technologies and applications continuously on a crusade of further progress and development even in the world of virtual currencies.
During the past few weeks nothing really new occurred in cryptocurrency’s world. The last two weeks, however, have already brought a change. The discussion related to Mike Hearns’s exit about the future of Bitcoin lead by important developers from the community is contributing to this change.
The Bitcoin barrage certainly towers prominently among the 2013 phenomena.
If history repeats itself, Bitcoin could fall to 500 or 300 USD. But who knows? The fact is that in the longer term, it still has much greater potential than today’s prices.
INESS in collaboration with the American Language of Liberty Institute organized this summer the seventh international educational event in a row, the 2013 Liberty camp.