Sunday, April 14, 2013

Nope sorry...the bitcoin bubble hasnt burst

Reading this

Nope sorry to burst your bubble…but the bubble hasn’t burst (pun).

Basically there is "intrinsic value" in having non trackable currency, as such there will always be some value in bitcoins (same reason why USA $100 notes get printed and “traded” by the pallet load between certain people.

You know its been interesting to watch the whole Cyprus and bitcoin discussion going around in a twin helix eg. ever since the days of tradable “shells” the value of money is in the belief you can buy something with it, there was a great editorial a few weeks back about how people have woken up to the fact that holding raw cash had intrinsic value over having it "in a bank" at 0.75% interest.

Lol at this article last year about aussies pensioners hoarding cash -

When you consider that both the USA and Australia have changed the rules in the last year about how 401k (superanuation in Australia) and how both governments 20 years in have now decided to ooops we changed our minds and will now be taxing funds you've locked away until 65......

I guess what I'm saying is yes botcoins may or may not go up and down but its just as big a risk as $US.

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