Cryptocurrency is a high-speed rollercoaster with its sudden highs and lows. Everything is about what comes next, the next big thing, what’s new, the buzzing news and sometimes we can lose our perspective.
So, it is important to remember where we started from. These are some of the most spectacular stories and predictions from a year ago.
Here are our favorites from last year.
Whoppercoin launches in Russia
Remember the time when every company wanted to launch its own crypto? Burger King jumped on that bandwagon as well.
It launched the Whoppercoin in Russia a year ago. It was a simple rewards scheme for Burger King’s customers. It was never meant to question the dominance of bitcoin but just a fun way to integrate bitcoin into the business. Each coin was worth $0.0000013 at launch. It was a novel idea but someone pitching an investment idea dressed up as a hamburger isn’t the best way to go about it.
Mortgages for bitcoin
When the cryptocurrency took the world by storm people were going BONKERS
Some people were taking out mortgages and maxing out credit cards to get their hands on bitcoin. During its crazy frenzy when bitcoin soared above $19,000 a wise Alabama Security enlightened people with his wisdom when he said, “You’re on this mania curve, At some point in time there’s got to be a leveling off. Cryptocurrency is here to stay. The blockchain is here to stay. Whether it is bitcoin or not, I don’t know.”
A cryptocurrency crash could potentially wipe out all its investors completely. But, investors are patiently waiting for the calm after the storm. And if they have used debt at this point then we have really bad news for them. Yikes!
Graphics Cards: Out-of-stock
The PC community weren’t big fans of the crypto miners back in 2017. The worldwide shortage of GPUs is what caused the resentment
Crypto miner bought 3 million GPUs back in 2017 and cleared out the market, leaving nothing for the PC industry.
However, in the end, it was estimated that crypto-miner had spent $778 million on chips. But to prevent this from happening again companies like Bitmain have invested thousands of dollars to built-in, purpose-built computing set-ups.
Bitcoin could be worth $619,047
We don’t know what made Forbes predict this. It seems quite a stretch as neither of us will find too many people sharing the same kind of optimism even now. But, back then bitcoin was flying as high as $4,477. Since then it hit a height of $17,900 before this year.
We will have to come back to this later to see if there’s any validity for Forbes massive leap for a coin that was worth less than $5,000 at that time.