Bitcoin and Cryptocurrencies

Bitcoin and Cryptocurrencies

KEFiM’s first event of the year 2018 was held in Athens at the yearly conference Athens Eurasian Money Show. The event addressed the opportunities and dangers of the Bitcoin market while four speakers from across the spectrum of the Greek cryptocurrency market presented their views on the topic.

The issues discussed at the event were the advantages and disadvantages of a digital currency, the usefulness of bitcoin in contemporary markets and transactions, and finally the role of technology in the monetary system of cryptocurrencies.

More specifically, the speakers were:
– Giorgos Archontas (Member of the Scientific Council of KEFIM)
– Konstantinos Harokopos (Mathematician – Economist)
– Petros Dimitrakos (Crypto-currency Trader)
– Constantine Cardos (Businessman) and
– Nikos Kostopoulos (Development Manager, Oceanus Foundation).

The discussion kicked off with KEFIM’s scientific adviser, George Archontas, by presenting the various economic theories of liberalism and more specifically their applicability on cryptocurrencies. More specifically, Mr Archontas talked about the Austrian School of Economics and especially the work of Nobel Prize-winning economist F.A. Hayek and what his views would be in the role of the state regarding a new un-regulated product.

The next speaker, Petros Dimitrakos a young Greek Cryptocurrency trader, analyzed the opportunities that an online currency such as bitcoin presents, especially for new entrepreneurs who would like to enter the market as well as for social groups who are excluded from the market due to poverty.

In turn, Konstantinos Harokopos, a financial advisor and a member of the Board of Directors of KEFIM, held strong reservations about the various cryptocurrencies such as Ripple and Bitcoin, by comparing them with the collapse of the Greek stock exchange market in 1999 and the collapse of the real estate market in the US due to the fact that there is no regulatory predictability as to who controls the market.

Nikos Kostopoulos, the founder of the first Greek cryptocurrency, stated that Greek society is still immature with regards to adopting a cryptocurrency such as bitcoin and that as an investor it is the first time that he feels so confident about such an undertaking.

Finally, the Greek economist and businessman, Konstantinos Kradismenos analyzed the reasons why the lack of a central regulatory authority for cryptocurrencies would cause problems for markets and countries who want to adopt bitcoins as their reserve currencies.

During the Q&A session, the audience’s questions were focused on the speakers investment opinion on the issue while the debate took an interesting turn when some people from the audience argued that bitcoin is not only an opportunity but also the future of financial transactions.

Watch pictures from the event, //www.flickr.com/photos/140631735@N03/albums/72157690371988091” data-mce-href=”https://www.flickr.com/photos/140631735@N03/albums/72157690371988091“>here: