Cyber currency

Cyber currrency was a very hot topic but now the heat has cooled down. Cyber currency's prices are positively correlated with cyber currency's public attention, when the cyber currency draws more public attention, the prices increase; and vice versa. From such phenomenon, cyber currency seems not like a proper asset that delivers reasonable returns,its innovative and hard-to-understand foundation becomes its selling point that attracts lots of people to buy cyber coins and pushes up the price. Now when people realize that cyber currency is not like the traditional fiat money and find they have some difficulty to use the cyber currency as proper money, the price landslides and the price now is below $4000..

I am never a fan of cyber currency. However, we cannot deny the impacts of cyber currency. The technology behind cyber currency, blockchain, has raisen many people's interests because of its security; many banks and financial institutions have invested in developing blockchain technology. In addition, the appearance of cyber currency has replace some functions of gold. Gold has been seen an alternative to fiat money, so when there is some political or economic uncertainty appearing in the world, the gold price increases as people see gold as the money that will not be affected by politics or economics; however, when cyber currency appeared, people see cyber currency can become an alternative to gold to be another type of safe reserve. Furthermore, many other types of cyber currency have been invented and even the most popular cyber currency, Bitcoin, has been split into two, Bitcoin and Bitcoin cash. These changes are brought by the heat of cyber currency.

Overall, because of the political stability in the world, there is no need for having many options of safe reserves as alternatives to fiat money, and people are not used to using cyber currency; however, the impacts of cyber currency are unerasable.