Opinion: Speculators Are Corroding Bitcoin

The obsession with Bitcoin’s price, driven by irrationally exuberant speculators, is distracting people from adhering to the core values of Bitcoin.

The following is a guest post from Mark Toohey, co-founder, and CEO of TBSx3 – a blockchain-based logistics and supply chain solutions company. He is also a digital currency regulation lecturer with the University of Nicosia.

Bitcoin is an exceptional, viable concept but it has been hijacked in recent times by people who have barely any idea about its history, its purpose, and its promise — and don’t care.

In many ways, there’s been a corruption of the original idea, because Bitcoin was designed to be a payment system.

Unfortunately, few people are still using it to make payments. Instead, it is being used as a store of wealth and a speculative tool. This is sad because it’s always been far better than that. It was built to spur positive social change.

Price is irrelevant

All this talk about how Bitcoin should be…