Bitcoin is fundamentally flawed in its mission to be a usable currency, both because of its underlying structural limits and weaknesses, but also because the primary purpose of any currency is to be a stable medium of exchange. Bitcoin is anything but stable, which makes it useless for anything other than speculation.
Napster was eventually sacrificed by lawsuits, but it changed the music industry.
I’m not sure what happen to Netscape, but it was the first browser to again change the world as we know it.
The bitcoin market of where you can purchase products is expanding. The dollar is not tied into gold and the banks just print money out of thin air. It’s based on market forces just like bitcoin
That is very well stated. You’ve eloquently written what I’ve felt in my gut about bitcoin. Especially noticing the difficulty of actually using it.
OTOH...unlike normal bubbles, the public got in FIRST and now Institutions are scrambling or in denial; and, there’s a very limited finite supply.
Also, Some guy just sold his beachfront mansion in Miami for 23 bitcoins...
so, wow...
I have a million dollars worth of spit coins. I’ll take a huge loss and sell them for one thousand dollars. Once those are sold I’ll “make” a million more. Who’s buying?
Does Bernie Madoff have computer access in prison and has come up with a new Ponzi scheme? Lots of people are going to end up holding a bag full of imaginary coins.
“Bitcoin is fundamentally flawed in its mission to be a usable currency, both because of its underlying structural limits and weaknesses, but also because the primary purpose of any currency is to be a stable medium of exchange. Bitcoin is anything but stable, which makes it useless for anything other than speculation.”
you’re totally correct ... bitcoin possesses virtually none of the attributes of a useful currency. it’s nothing more than the 21st century edition of the tulip bulbs and sardines of centuries past.