The recent spate of unwelcome headlines, like the ones inspired by Mt. Gox, is an unfortunate part of building this brave new world, the broken fortunes of a few paving the path to good money for us all.
If you are a detractor, bitcoin is an irrational delusion. It is anarchic and the tool of choice for the modern cyber criminal. It destabilises our attempts to forge a more resilient economy, particularly after the last few years of financial turmoil, with Mt. Gox being but the latest example to show how truly Wild West this digital frontier is. Our only hope lies in effectively corralling Pandora's new technology genie before it can do too much harm.
Both are partisan positions, charged with emotion. Their hyperbole is the clearest evidence yet that bitcoin is fated to repeat the perennial cycle of boom and bust, seen with every hopeful innovation since records began.
- Why Bitcoin is Fated for Boom and Bust, CoinDesk.com, April 13, 2017.
3. SunEdison stock is a classic Wall Street boom-and-bust story, with shares rocketing over 2,000% before eventually losing almost all of their value. The volatility was largely driven by operational fluctuations attributable to deteriorating fundamentals in the solar industry.
SunEdison Inc., which builds and operates renewable power plants that use solar and wind energy, was bought by MEMC Electronic Materials in 2009. In 2013, MEMC adopted the SunEdison name to reflect a more concentrated focus on solar energy. After the company filed for bankruptcy in April 2016, SunEdison stock was delisted from the New York Stock Exchange, where it had previously traded under the tickers WFR and SUNE. SunEdison stock now trades on the over-the-counter (OTC) market under the ticker SUNQE.
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