Business Unusual

Bitcoin, Uber and GoPro - how the mighty are challenged - Part 3

This is an update to the coverage of three subjects previously featured on Business Unusual. Typically these businesses were hailed for their ability to disrupt the market they were in and it appeared at the time that good times lay ahead.

No business gets a free ride though and their success came at the cost of the previous incumbents. As they now move into the prime position it is others that are trying to disrupt them.

This is part 3.

Bitcoin

Bitcoin is still such an outlier to the enormous traditional finance market that even the record new levels the cryptocurrency reached may still not be enough for it to make it.

When it was covered as part of the feature on Blockchain, it was one of the most volatile currencies capable of very large swings compared to traditional currencies. It was growing but from a small base and while it was performing well, there were some big questions looming about how it would fit in the traditional market and how the developer community would evolve to deal with its growing base.

China has been a big influence, not only because the bulk of the mining operations are based there.

Mining itself has turned into a very lucrative investment option for some while being seen as a bubble nearing a pop by others as the blockchain network counters the increasing mining power with ever more difficult hashing computations.

After a slow rise in 2016, it threatened to breach its record high of $1147 set in 2014. On 4 January it hit $1129 and then a new record of $1290 on 4 March. It is now back at $1185.

There will be multiple factors affecting the rise and fall, but the focus of them would also relate to how Chinese and Japanese bitcoin exchanges have reacted to news from the Chinese Central Banks which have sought to regulate the amount of cash Chinese citizens invest into the coin. It also has its and its own plans to introduce a currency of their own which could both undermine bitcoin value while also confirming its place as a legitimate form of currency.

The ides of March may offer another significant boost or potential reason to crash the virtual currency. The US Securities and Exchange Commision will rule if a Bitcoin based ETF will be allowed to trade in the US. If approved it will allow for those with no need to actually use the currency to benefit from investing in it in the same way they might buy gold. It is worth noting that the Bitcoin price exceeded the gold price on 2 March 2017.

Impressive considering it is still not known who even created it.

Interest in the potential of blockchain suggests that even if Bitcoin fails to reach maturity as an alternative store of value, a version of it will.

One of the most recent applications will see IBM and Maersk use blockchain to track containers. It could slash the amount of paperwork needed to move goods while adding almost perfect security to track the movement of goods anywhere in the world.

Now read part 1 - Uber or part 2 - GoPro

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Update: Amazon gets wider, Uber gets a flat and Bitcoin is losing currency

Update: Amazon gets wider, Uber gets a flat and Bitcoin is losing currency

A mid-year update on the companies we have profiled on Business Unusual.

Minecraft, a game that could one day get your child a job

Minecraft, a game that could one day get your child a job

There is a lot of great educational software, but these games are not only good for children.

Dynamic pricing - a buzzword that may see you pay more

Dynamic pricing - a buzzword that may see you pay more

Your shopping habits may reduce your chances of getting the best deals.

Real radical economic transformation

Real radical economic transformation

Could the overused and undefined phrase hold real meaning for South Africa and the rest of the continent?

Two high tech weapons, one guaranteed to kill and one guaranteed it won't

Two high tech weapons, one guaranteed to kill and one guaranteed it won't

Technology promises to make everything better, but can it reduce accidental firing and ensure ethical kills?

The tools that were supposed to make life easier could be putting us at risk

The tools that were supposed to make life easier could be putting us at risk

A phone, a PC, a TV, a car - odds are you have one and odds are you have no idea how they work.

Popular articles
Home Affairs to follow up on special dispensation permit for Zimbabweans in SA

Home Affairs to follow up on special dispensation permit for Zimbabweans in SA

Home Affairs Minister Hlengiwe Mkhize says her department will respond to all Zimbabweans under special dispensation.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

Meet self-made millionaire (net worth – R400m!) property mogul Sisa Ngebulana

Meet self-made millionaire (net worth – R400m!) property mogul Sisa Ngebulana

How did Ngebulana build his empire? The Money Show’s Bruce Whitfield interviewed him for his weekly “ShapeShifter” feature.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

'The university degree is dead'

'The university degree is dead'

Flux Trends founder Dion Chang gives five reasons why he believes getting a degree is past its sell by date.

5 advantages of leasing instead of owning a car (lower monthly payments!)

5 advantages of leasing instead of owning a car (lower monthly payments!)

Want (or need) a new car? Dale Scorer (a wealth manager at AlphaWealth) reckons you should consider leasing.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?