Lead Machine Pink 160x1200

Lead Machine Pink 160x1200

iTWire TV 705x108notfunny

Author's Opinion

The views in this column are those of the author and do not necessarily reflect the views of iTWire.

Have your say and comment below.

Thursday, 08 February 2018 10:35

Cryptocurrencies: only one thing can be said with certainty


The ephemeral nature of cryptocurrencies has been underlined this morning by two stories: one claims bitcoin and most other cryptocurrencies will hit zero, while the other says the cryptocurrency market could hit US$1 trillion this year with bitcoin surging to US$50,000.

The former view is taken by Goldman Sachs, not exactly a paragon of virtue when it comes to the financial sector. The company's Steve Strongin said most digital currencies were unlikely to survive in their current form, and investors should prepare for coins to lose all their value as they’re replaced by a small set of future competitors.

Goldman, it must be remembered, deals in standard currencies. Its feet are firmly planted in Wall Street.

The trillion-plus prediction comes from, you've probably guessed it, a man who works at a cryptocurrency exchange. Thomas Glucksmann, head of APAC business development at Gatecoin, was quoted as saying: "There is no reason why we couldn't see bitcoin pushing $50,000 by December." Indeed.

Which does make it rather confusing for average individuals, many of whom are actively interested in investing in these assets in order to make a little money. After all, that is the raison d'etre for many of us.

In this case, it is easy to see that the statements, from both sides, are made out of self-interest, and to disregard them altogether. But quite often, one sees statements from so-called disinterested parties that veer in one direction or the other.

Cryptocurrencies are very much in the news these days, with the US, India, China and South Korea all speaking of regulations or bans. China has given a clear indication of its stance: nothing to do with these assets at all.

Australia has. so far, said nothing. That is not surprising, it is standard behaviour.

Perhaps the one thing that can be said with certainty about cryptocurrencies is that no government will allow a currency of any kind to gain sufficient traction unless it is able to control it. If any cryptocurrency does gain enough traction, then governments would lose control.

Remember how the US tried to peg back WikiLeaks after the video of American troops gunning down innocent Iraqi civilians surfaced? They told the credit card companies to disallow transfers to WikiLeaks, hoping to starve it of funds and finally get it to shut down.

That's the way governments try to control organisations that they perceive as a danger to their existence.

Governments will never lose control of currencies. If they did, they would be sitting ducks to lose what little authority they have.

Read 2730 times

Please join our community here and become a VIP.

Subscribe to ITWIRE UPDATE Newsletter here
JOIN our iTWireTV our YouTube Community here


The past year has seen a meteoric rise in ransomware incidents worldwide.

Over the past 12 months, SonicWall Capture Labs threat researchers have diligently tracked the meteoric rise in cyberattacks, as well as trends and activity across all threat vectors, including:

Encrypted threats
IoT malware
Zero-day attacks and more

These exclusive findings are now available via the 2022 SonicWall Cyber Threat Report, which ensures SMBs, government agencies, enterprises and other organizations have the actionable threat intelligence needed to combat the rising tide of cybercrime.

Click the button below to get the report.



It's all about Webinars.

Marketing budgets are now focused on Webinars combined with Lead Generation.

If you wish to promote a Webinar we recommend at least a 3 to 4 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://itwire.com/itwire-update.html and Promotional News & Editorial. Plus a video interview of the key speaker on iTWire TV https://www.youtube.com/c/iTWireTV/videos which will be used in Promotional Posts on the iTWire Home Page.

Now we are coming out of Lockdown iTWire will be focussed to assisting with your webinars and campaigns and assistance via part payments and extended terms, a Webinar Business Booster Pack and other supportive programs. We can also create your adverts and written content plus coordinate your video interview.

We look forward to discussing your campaign goals with you. Please click the button below.


Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

Share News tips for the iTWire Journalists? Your tip will be anonymous




Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News