Topic: Bitcoin Craze is a Bubble, Just Not The Bubble You Might Think (Read 561 times)
They should just hit reset and back the USD with precious metals.
February 05, 2014, 01:44:30 PM
Thanks for the article. 
Quote
The moment the Amazons of the world accept Bitcoin, it will be the moment where we know for certain that controversial cryptocurrency isn’t going anywhere at all.
I can't wait for that day lol February 02, 2014, 10:50:45 PM
I know.
February 02, 2014, 10:48:10 PM
Bitcoin Craze is a Bubble, Just Not The Bubble You Might Think
The idea of monetary currency is a funny thing when you sit and think about it. A twenty dollar bill in your pocket only has twenty dollars worth of purchasing power because enough people have agreed that it does. Yet, there is nothing intrinsically valuable about the paper you hold and the number that is printed on it.
Enter the bitcoin. The controversial digital currency is (literally) of no value in the real world, unless enough people agree that it should be worth something. In that case, the value becomes real, and you can make actual purchases with it. And Bitcoin, like any currency, has its perceived valuation ebb and flow from time to time. This happens every time it hits the news for good or bad reasons.
http://fusion.net/modern_life/story/bitcoin-bubble-bubble-415227
The idea of monetary currency is a funny thing when you sit and think about it. A twenty dollar bill in your pocket only has twenty dollars worth of purchasing power because enough people have agreed that it does. Yet, there is nothing intrinsically valuable about the paper you hold and the number that is printed on it.
Enter the bitcoin. The controversial digital currency is (literally) of no value in the real world, unless enough people agree that it should be worth something. In that case, the value becomes real, and you can make actual purchases with it. And Bitcoin, like any currency, has its perceived valuation ebb and flow from time to time. This happens every time it hits the news for good or bad reasons.
http://fusion.net/modern_life/story/bitcoin-bubble-bubble-415227
Jump to: