The Bitcoin is a classic bubble, worth whatever people think it’s worth at the moment. At some point more people are going to want to spend their Bitcoins than hold them, at which time the “value” could quickly plummet to zero.
Much the same can be said about the stock market which is being pumped up far beyond reality by the massive amount of BitDollars being constantly minted by the Fed.
Exactly classic bubble. I remember stories about people buying Beanie Babies for their retirement or for their kids college education. Didn’t work out so well.
I'm pretty good at comprehension when it comes to Math and Economics. I wish someone could explain just what a bit coin is in a way I can truly grasp. Not a doctoral thesis or anything...just a few simple sentences.