Bitcoin -- Boom or Bubble?

Real Clear Politics ^ | 20 January, 2014 | Robert Samuelson

[Errant]

Not only congress, but the central government. It's the same story over and over. All governments eventually get themselves trapped in downward spiraling debt cycle and wind up debasing whatever currency is being used - even if gold or silver.

The ONLY solution is to put the power of the purse into the hands of the people - the ones who have the most to lose. This technology might just make that possible. At least that's what I would hope would happened, and on a global scale. Money is indeed the "ROOT" of evil. The more it can be kept out of the hands of a few, the better!

[Redcitizen]

1 Timothy 6:10: For the love of money is a root of all sorts of evil, and some by longing for it have wandered away from the faith and pierced themselves with many griefs.

It’s the love of money that is a root of evil. Money can be used for good purposes as well as bad purposes so it is the intent of a person that makes the use of money turn out to be bad or good.

[BfloGuy]

Bitcoin - another “carbon credits” scheme, similar in many ways to AlGore’s patented scam and sale of non-existent value.

With one significant difference: it wasn't created by government for political purposes. That explains much of its attractiveness.

[PeterPrinciple]

and hold them as an investment or speculation, hoping their price will rise.

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I don’t think they are an investment in the traditional sense.

The stock market, dollars, bit coins and lottery tickets all have a lot in common.

[PeterPrinciple]

People have tried to educate me, but I just can’t get my arms around the concept.

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NEVER invest in something you don’t understand.

[Errant]

It’s the love of money that is a root of evil

That's one way to look at it, another is cut the root in order to eliminate an evil. Governments also desire/love money. Its "root" sucks the lifeblood from the governed to ensure its own existence, growth and to enrich its supporters. The "beast" requires pruning from time to time.

Matt. 6:24 ...You cannot serve both God and money.

[Errant]

The stock market, dollars, bit coins and lottery tickets all have a lot in common.

Two are fundamentally different. Both dollars and bitcoins exist primarily to serve as a medium of exchange.

[Sawdring]

Francisco’s Money Speech: "So you think that money is the root of all evil?”

[PeterPrinciple]

and hold them as an investment or speculation,

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Did you not read the article? We can hold them for investment and speculation.

[Errant]

Of course you can, but that’s NOT their primary purpose. Both the dollar and bitcoin were designed to be used as a medium of exchange; quite difference from stocks.