[2017-03-10]Let’s Be Real: Bitcoin is a Useless Investment

[joshy23]

The rejection by U.S. regulators of Winklevoss twins' plan for an exchange-traded fund holding bitcoin is a good time to ask why bitcoin might have any value, and if it does whether it makes sense to hoard it.

The Winklevoss twins are an unlikely source of philosophical musings about the nature of money. But the rejection by U.S. regulators of their plan for an exchange-traded product holding bitcoin is a good time to ask why bitcoin might have any value, and if it does whether it makes sense to hoard it.

Bitcoin as an investment suffers from a basic logic problem formulated at the time of Shakespeare: Gresham’s Law. Only someone who thinks Bitcoin has value would ever hold it. But if a person holds both bitcoin and a government-controlled currency – say dollars – then she would surely choose to spend the dollars. As Sir Thomas Gresham formulated it, “bad money drives out good.” The good currency is hoarded, and the bad money spent. ...


http://www.techinvestornews.com/Tech-News/Financial-Bloggers/lets-be-real-bitcoin-is-a-useless-investment

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[panju1]

It is pretty pointless to post a link, when the full article is not available.
The original article at WSJ is behind a paywall as well.
http://blogs.wsj.com/moneybeat/2017/03/10/lets-be-real-bitcoin-is-a-useless-investment/

[Alesis]

Bitcoin is a great investment, because the value will continue going up in most situations.

A lot of investments only have the value which people give them rather than solely based on how useful it is, but Bitcoin is very useful.  It's going to become more popular.

[1Referee]

Bitcoin is a great investment, because the value will continue going up in most situations.

A lot of investments only have the value which people give them rather than solely based on how useful it is, but Bitcoin is very useful.  It's going to become more popular.

Problem with non Bitcoiners is that they don't realize what Bitcoin is capable of. They mostly don't even understand the basics, but still think to know that Bitcoin won't survive for long. It's ignorance from the highest levels. Let them say and think whatever they want, because at some point they will look back and regret not having taken Bitcoin seriously while it was still a tiny dot. Same basically was the case when Bitcoin was about to break through $100 for the very first time. According to various "experts" $100 was the ultimate top price for Bitcoin, ever. After that it would only drop in value due to the "hype" coming to an end. Look where we stand right now.

[notthematrix]

Most people don't realize that the fiat money system is FUBAR.
its been kept alive to buy time , a very gooed replacement could be bitcoin it it has time to go stronger.
This tine could be given.
People at the top know this.

[TraderTimm]

Just another clueless white-collar muppet that thinks fiat currency represents "stable" store of value.

We know the real score, especially after years of fractional reserve banking and debt issuance.

You really can't help some people. You can point them to articles, the white paper, everything that outlines how Bitcoin works, but if they don't want to see it for what it is - they will never accept it.

Bitcoin is incompatible with the existing system, because it has transparency and deflationary forces built into it. This will become more apparent as banks start actively fighting it. For now, they're playing around with "blockchains" and making noises like they "get" it, but honestly I doubt they really do.

[callynyan]

I don't understand how a currency that has no single point of failure and is inflation proof is "useless"