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I agree so much with this comment. Personally I think Bitcoin and/or blockchain could be the future, but the current value is 90-95% based on dumb speculation.
by westiseast 9y ago
I agree so much with this comment.
Personally I think Bitcoin and/or blockchain could be the future, but the current value is 90-95% based on dumb speculation. It’s use as a practical currency are years away, and it’s still super risky (ie. it could easily lose most of its value overnight for one reason or another). I don’t begrudge people making money from it, but I’m fed up of people telling me how awesome and groundbreaking it is, when at the moment, in practical terms, it’s just a giant pyramid scheme.
- walrus1066 9y agoBitcoin itself is useless as a currency, a currency needs to have stable purchasing power, i.e. One coin will purchase roughly the same amount of goods next year as it does this year. Bitcoin by design doesn't allow this. Hopefully one day we will create a currency where the supply is determined more by demand, so it has a stable purchasing power. This'll make it much more practical for businesses and consumers to use for buying goods and services.