Cryptocurrency and You: Should Economics Students Care About Bitcoin?
Bitcoin is a revolutionary force in the evolving financial industry. It is the first and also the most popular cryptocurrency. Thus, it has raised much debate among economists and technologists. However, do students in the best economics colleges in India need to care about Bitcoin? Let us examine its economic implications and role in the modern economy. What Do Economists Say About Bitcoin? Economists have different opinions on Bitcoin. Supporters highlight its potential to decentralise finance and offer transparency. Bitcoin’s underlying blockchain technology ensures secure transactions. It also promises to nurture financial inclusion in regions with limited banking access. Critics are quick to point out Bitcoin's volatility. They say that it is more of a digital asset than a currency and is not useful for daily transactions. It has the potential for regulatory uncertainty, and its use for illicit activities further fuels scepticism. Neutral observers consider Bitcoin one of ...