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Cheah, E. T. and J. Fry (2015), “Speculative bubbles in Bitcoin markets? An empirical investigation into the fundamental value of Bitcoin”, Economics Letters 130, 32–36.
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There are currently three broad categories of cryptocurrency: Bitcoin, altcoins, and Tokens.
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This saw Bitcoin prices tumble to below $30,000 in a dramatic plummet from its soaring success.
Altcoins can also be used to create smart contracts. These smart contracts can be automatically executed based upon certain conditions. There is no need for third-party involvement and so they can be done immediately. Smart contracts can be used in transactions as diverse as property, stock, and gas, making them a very interesting investment.
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The launch of NYCCoin follows MiamiCoin, which to date has earned more than $21.3 million since its August 2020 launch, the nonprofit said.
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It comes after the cryptocurrency dipped by approximately after surging to $67,700 in late October as traders appeared to pull back in anticipation of another price pump.
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Having a capped currency means Bitcoin can be used as a store-of-value investment tool. Investing in a store of value currency can be compared to investing in gold. Although there is some transactional value in gold, it is mostly used as a store of value.
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