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Bitcoin is, at most, a payment service similar to Paypal. It is not a true currency nor will it ever be one. All anyone cares about is how it relates to the U
by ChikkaChiChi 14y ago
Bitcoin is, at most, a payment service similar to Paypal. It is not a true currency nor will it ever be one. All anyone cares about is how it relates to the USD.
All government backed currencies at least start on the gold standard. After sufficient time and economic development, some countries (like the US) can move off the gold standard and lend and borrow on reputation alone.
Bitcoin was started by people who do not appear to exist, the "money" was printed by a select group of early adopters who still control vast portions of its economy, and with nobody to regulate or monitor the exchanges, the recent inflation can all be some part of manipulative collusion.
WoW Gold and Team Fortress 2 Apple Earbuds seem to have a more stable and trustworthy currency than Bitcoin.
Yes, I wish I could predict the spike and have cashed out, but I'm not losing sleep over avoiding an investment that doesn't feel right in the least.