Follow Cyprus Immigration and Life in Cyprus: The private University of Nicosia, located in the capital of Cyprus, has become the first university in the world to allow tuition payments in Bitcoin.
The University of Nicosia is the largest private university in Cyprus. The local English newspaper, the Cyprus Mail, reported on the 22nd, citing the school's Chief Financial Officer, Christos Vlahos, who stated that digital currency is an inevitable trend of development. Christos said, "Digital currency will create more efficient services, providing financial services to areas lacking financial services." He added, "We have over 2,000 online students, and Bitcoin allows them to pay their tuition conveniently." The University of Nicosia also announced the establishment of a master's degree program in digital currency. "The establishment of this degree is to help financial service professionals, entrepreneurs, government officials, and public sector employees better understand the technological implications of digital currency and how digital currency interacts with existing currencies and financial systems," Christos said.
Is Bitcoin a new currency or a new scam?
As "Chinese aunties" begin to go crazy for Bitcoin, perhaps it is time to take a calm look at Bitcoin. This binary file, although it costs more to produce than its face value, has no intrinsic value. Its value can only be recognized when traders find the next buyer. Therefore, critics say that Bitcoin is a scam; it was not designed to be a practical currency but rather to make early entrants wealthy, essentially resembling a Ponzi scheme.
Some analysts believe that the decreasing number of Bitcoins mined each year and the fact that the total supply is limited means it is likely to face the opposite: deflation.
Thus, some viewpoints consider Bitcoin to be another "Ponzi scheme": the mysterious inventor of Bitcoin successfully injected virtual liquidity into a secure, reliable, decentralized, and anonymous electronic payment system concept—rather than importing real liquidity from the outside—and then allowed the virtual liquidity to associate with real currency, waiting for future generations to drive up the currency's value.
Some analysts describe the current Bitcoin market using the theory of "greater fool theory," which states that as long as there are buyers willing to pay higher prices, the market price of Bitcoin will continue to rise. However, during the "greater fool" phase of Bitcoin pricing, it is merely waiting for the last person to take the fall. Whether Bitcoin is a scam still needs time to prove, which also requires actual payment demand and a large number of specific goods and services needed in transactions.