Tuesday, February 11, 2014

Bitcoin is not a currency

Bitcoin is a commodity, not a currency.  It has some similarities to gold.  Forget all the technobabble and central bank wonky-talk.  It's not a currency because a currency is a store of value.  Does this look like a store of value?

No, it does not.  It looks rather like an old fashioned bubble.  The Finns have come to the same conclusion.

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