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Looking ahead 2018

Bitcoin bubble to burst

Asian regulators right to impose curbs, more warnings needed

| China
The excitement generated by an epic technological adventure surrounding bitcoin is similar to the thrill of being the first to buy the latest iPhone.   © Reuters

Bitcoin is not a substitute or alternative for conventional currency, and cannot become one. It cannot operate as an effective medium of exchange, unit of account, or store of value. Its use in crowdfunding is a gimmick. Like the 17th century Dutch tulip mania and other bubbles, this will burst sooner or later and the adventure will be over.

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