Stablecoins aim to counteract cryptocurrencies’ volatility. But if central banks get in on the act, they could finish off cryptocurrencies altogether.
Bitcoin is the 21st century global online peer-to-peer currency. One of many so-called "cryptocurrencies", it is free from the interference of regulators and nation states, it has seen its value soar against traditional paper currencies.
There are many ways of buying in to the bitcoin boom. Dominic Frisby looks at the most common, and explains exactly how to buy bitcoins in the UK.
Just 11 months ago, bitcoin reached a record price of nearly $20,000. Now it’s worth $4,300, its lowest level for more than a year.
Bitcoin’s spectacular slide is no surprise, given the speculative excess that surrounded its earlier rise. It’s not done falling yet, says Dominic Frisby. But its day will come again.
Dominic Frisby discusses how trust in the world’s financial institutions has collapsed, and asks if blockchain and cryptocurrencies such as bitcoin can help restore it.
Of course they can. It’ll be a wild ride, but cryptocurrencies are here to stay, says Matthew Lynn.
The number of cryptocurrencies exploded as coders, entrepreneurs and scam artists jumped on the crypto-bandwagon. But as with a gold rush, fortunes can be lost as well as won.
Last week bitcoin dropped by more than 20% in a few days to around $6,200 before recovering slightly. Other cryptocurrencies such as ethereum and XRP have lost their footing too.