From the course: The Data Science of Economics, Banking, and Finance

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Cryptocurrencies and blockchain in finance

Cryptocurrencies and blockchain in finance

From the course: The Data Science of Economics, Banking, and Finance

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Cryptocurrencies and blockchain in finance

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- [Instructor] Back in 2017, when I made the first version of this course, the best known cryptocurrency, Bitcoin, was still a bit of a novelty, but because it was undergoing a huge spike in value at that time, it got a lot of attention. But with that growth and attention came a few other things. One which is probably good, was that there was rampant idealism. People were talking about Bitcoin changing the entire financial world and about blockchain, the technology underneath it, changing everything and everything was going to be wonderful in every way after that. Well, then again, other things happened. Because of the spike in the price for Bitcoin, a lot of people started investing in cryptocurrencies like Bitcoin, not because they thought they were good stable alternatives to government issued currencies because they thought they could make a lot of money by buying and selling them. And so this led to a lot of market speculation, and that led to enormous volatility, wild swings up…

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