Crain’s New York: “Taking stock of Bitcoin on its 10th birthday”

Excerpt from a Crain’s New York Business article quoting DataTrek Research:

….. “Trouble is, for now Bitcoin isn’t really good for anything except as a chew toy for speculators. It rises and falls too much for it to work as a form of payment or a store of value.

But as DataTrek Research co-founder Nicholas Colas observed in a report today, the future of money and banking is in mobile payments, and that’s what Bitcoin is all about. It’s conceivable that one day a killer Bitcoin app will become popular in countries where governments are prone to seizing people’s assets when it suits them. From there, who knows? Perhaps the world will follow.

“Bitcoin starts its second decade in a similar position to 10 years ago,” Colas wrote. “A clever technology looking for a home”…..

Read the whole article here in Crain’s New York Business!

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