Irish Examiner view: Price volatility in the  unregulated environment of cryptocurrencies

A report from the US Treasury warns of the risks of bank runs, consumer abuse, and payment problems from dealing and trading in cryptocurrency

Bitcoin, the original cryptocurrency, is said to be worth $1.7tn (€1.45tn); five years ago, a single bitcoin sold at $500, mow it is priced at $62,000, a growth of 12,300%.

It’s a fair bet that most of us wouldn’t recognise a cryptocurrency if we tripped over one, much less know what to do with a non-fungible token, or where to find a blockchain.

It doesn’t help that many of the big names on this new frontier present as though they have been conjured from the minds of science fiction writers such as Arthur C Clarke, Frank Herbert, or Isaac Asimov.