From another world? Bitcoin, cryptocurrencies and blockchain

Abstract

Technical, economic and social changes are happening so rapidly that it sometimes feels like a parallel universe operates alongside our own lives. The implications for investing are massive but unfathomable. Traditional financial analysis is spun on its head when the market values a company like Tesla higher than General Motors. In 2016, Tesla made a loss and produced only 76,000 cars, while GM had net income of US$9.4 billion and sold over 10 million vehicles. Uber churns through cash by the billion and will probably never make a profit, but is valued at US$70 billion. Have you ever heard of a game called Dungeon Fighter? Unbelievably, it has grossed more revenue since 2005 than Star Wars, Hollywood's leading franchise across eight movies, has earned since 1977.