Thursday, April 11, 2013

Bitcoins much safer than Money in Banks

Bitcoin's 'anything goes' nature has made it a target for hackers, who quickly learned to steal the virtual money. But William Mook, an entrepreneur who tracks bitcoin markets, says the actual damage is being exaggerated.
bitcoin specifically has *many* great things. where i think fails:
>its user base is growing when it should be stable;
>people are trying to use it to earn money;
>speculators scaring newcomers;
>hoarders holding on to it until it is worth a gazzilion other value.
Its a currency, for trading, measuring value, you know... stretching rubber as a ruler is not good. So, not using it solely for the purpose of facilitating trading actually removes value from it.
The bubble has the size of the lack of actual trade being done with it, the sum of it's users unwillingness/inability to get paid in bc, and ability/willingness to pay with bc.