Guest Column | February 9, 2018

Is Cryptocurrency Going Down the Drain?

Jim Lauria

By Jim Lauria

Talk about making waves. Cryptocurrency — digital “tokens” or “coins” rooted in computer code and valued for the very fact that they are disconnected from governments and banks — have experienced spectacular rises and falls in recent months. The crypto-economy is already worth hundreds of billions of dollars (REAL dollars!), and it’s anyone’s guess how fast it will grow after that.

Cryptocurrency’s meteoric rise and market turbulence have challenged people to think hard about what confers value. Cryptocurrency proudly leaves gold and silver standards, and even the faith in national economies that buoys other currencies, in the dust. Instead, it is intimately tied with what I call the water standard.