Iowa State University’s electrical and computer engineering Professor Doug Jacobson was featured in article published on WalletHub.com. The article, which discussed whether Bitcoin is safe or not, features several professional opinions, including Jacobson’s. Bitcoin is a type of digital currency that uses encryption techniques to regulate the units of currency and verify the transfer of funds.
“Bitcoin has no real value other than the artificial value set by the people trading in Bitcoin. To me, this is like trading in stock of a company who has no product or service, only stock,” Jacobson said. “People will argue that Bitcoin is not like stock but is a currency and therefore will always have value. This is a false assumption since there is nothing standing behind the value of Bitcoin. We have all seen currency being devalued overnight, even if there is a government standing behind it.”
Read more about Bitcoin’s safety and Jacobson’s thoughts here.