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Title: 2013-04-11 BBC News: The Bitcoin bubble Post by: P_Shep on April 11, 2013, 05:48:00 PM http://www.bbc.co.uk/news/technology-22110345
Title: Re: 2013-04-11 BBC News: The Bitcoin bubble Post by: Nancarrow on April 11, 2013, 08:42:00 PM On the whole, an excellent article. I'd make a minor quibble:
Quote The whole cumbersome process of getting and spending the currency... convinced me of one thing - that Bitcoin was not yet much use except as a means of speculation. ... OR store of value. Quote The only reason to get hold of Bitcoins right now is because you think they might be worth a lot more in a few hours or days. Not quite the only reason. Your timeframe might instead be months, years and even decades. Which really does change the... *giggles*... 'impact' of this crash. Quote But unless and until Bitcoin can be used to buy a sandwich, or be accepted by your friends when you pay them back for a restaurant meal, then it is likely to remain just a playground for geeks and gamblers. This is the crux of the matter. Bitcoin *can* survive indefinitely as a store of value, but it would be worth so much more if it could also be a means of transaction. Actually I don't particularly need it to be viable at POS, just rent and utilities bills would be great. But groceries, even better. One thing's for sure: this crash is NOT newsworthy in the grand scheme of things, it's only newsworthy because reporters and journalists have a job to do, and they can't talk about Margaret Fucking Thatcher *all* the time. |