Don't worry, they will.
And he causes all, the small and the great, and the rich and the poor, and the free men and the slaves, to be given a mark on their right hand or on their forehead, and he provides that no one will be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name.
Revelation: 16-17
Just another kind of “paper gold”, certificates that are traded based on what is a presumed store of gold bars held in a vault somewhere.
We have only the word of the custodian of that vault that the gold is really there.
Who keeps tabs on the actual number of “bitcoins” that exist? Even easier to replicate than the “electronic dollars” the Fed is pumping into the favored few banks and other institutions “too big to fail”.
I sense a “con game”. Kind of like Al Gore’s “carbon credits”.
A currency must be hard to duplicate, but flexible to allow growth. Above all, what backs a currency is faith. Faith that it won’t be diluted haphazardly, or to benefit someone in power. I am not convinced that the people who created Bitcoin won’t succumb to greed and create a few million for their own account. Not yet anyway.
You really think that the U.S. Government couldn't build a bigger bit-mining supercomputer complex than any consortium of private programmers? Ha.
They're building one now in Utah.
Anything the big-government/big-corporate crony-fascist complex can’t control is good.
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but isn’t bitcoin controlled by the chinese?
But how can they tax and/or profit from it? And thus, sadly they combined to destroy it. And it was so, and the Darkness prevailed and there was much weeping and gnashing of teeth throughout the land.