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Author Topic: 2013-04-11 BBC News: The Bitcoin bubble  (Read 801 times)
P_Shep (OP)
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April 11, 2013, 05:48:00 PM
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April 11, 2013, 08:42:00 PM

On the whole, an excellent article. I'd make a minor quibble:

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.

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.

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.

If I've said anything amusing and/or informative and you're feeling generous:
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