The larger question of whether it's a currency is a very abstract and philosophical one," Yermack said. SEE ALSO: Gold-Backed Bitcoin Spinoff Aims to Keep Some Fun in Virtual Currency In November 2014, David Yermack, Professor of Finance at New York University Stern School of Business, forecast that in November 2015 bitcoin may be all but worthless. In the indicated period bitcoin has exchanged as low as $176.50 (January 2015) and during November 2015 the bitcoin low was $309.90. However, there is an expert that believes that Bitcoin (BTC) was not created with the intention to fight against the current economic system. David Yermack, professor of finance and business transformation at New York University says that Bitcoin appeared in 2009, but there were several attempts to create a digital currency such as BTC in the past. This entry was posted in Bitcoin News, Blockchain, Brazil, David Yermack, digital currency, education, IBM’s Blockchain Technologies division, Ireland, News, Northeastern University College of Engineering, NYC Stern School of Business, Technology, UK, University of Sterling, US, Wyoming on June 18, 2018 by adminbtc. Much of the early discussion regarding Bitcoin focuses on whether it is or is not a currency. David Yermack concludes that it resembles a highly speculative instrument as it lacks the Bitcoin trading in the local currency. Brazil Real 1 Jan 2014 31 Dec 2018 1,758
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