Intelligence Squared U.S. Debates: Is Bitcoin More Than A Bubble

Airs Sunday, July 22, 2018, at 6 p.m. Less than a decade old, Bitcoin is worth billions. The cryptocurrency promises to revolutionize global finance by placing control of currency in the hands of users, not nations, and make financial exchanges more transparent, efficient, and democratic. On the other hand, skeptics suggest this highly volatile digital currency offers a platform for illicit activity, including money laundering and trafficking of humans and drugs, free from government oversight and regulation. And, they argue, Bitcoin has no intrinsic value – the price is based on market enthusiasm rather than actual utility. Our debaters are Patrick Byrne and Tim Draper arguing for the motion, and Eric Posner and Gillian Tett argue against the motion.