Much ado about cryptocurrency

(FILES) This file photo taken on July 04, 2017 shows an image of Bitcoin and US currencies displayed on a screen as delegates listen to a panel of speakers during the Interpol World Congress in Singapore.Bitcoin surged through the 5,000 level on October 12, 2017 for the first time since the launch of the unregulated virtual currency more than 8 years ago. / AFP PHOTO / ROSLAN RAHMAN

THE very mention of Bitcoin (pic) evokes a mixture of feelings among the population; never has there been a currency with such polarising effects. Thomas Carper, a US State Senator hit the nail on the head when he said: “Virtual currencies, perhaps most notably bitcoin, have captured the imagination of some, struck fear among others, and confused the heck out of the rest of us.”

Just a few days ago, it came to my attention that a group of young employees from a tech company were raving about Bitcoin, touting it as “the next big thing” and a once-in-a-lifetime opportunity which should not be missed. Suffice to say, they are not the only ones who are eager to pump their life savings into another investment fad.