Cryptocurrency value is in the ‘proof of work’

Bitcoins at the online coin dealer Bitcoin Commodities in Berlin. FILE PHOTO | NMG

Everyone in the financial services world has been on edge in the past few weeks as the world’s most valuable and visible cryptocurrency, Bitcoin, continued in its hockey stick trajectory, punctuated only by a few brief dips.

How long it will sustain this bull-run is not known. But the value has most definitely been driven by a feeding frenzy from laggard consumers and investors who are afraid of missing out.

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