The Case Against Bitcoin – A Faith Based/Emotion Backed Currency
Bitcoin is backed by nothing other than the hope that it might be worth more tomorrow
Bitcoin is a relatively new crypto-currency that has received a lot of media attention recently as the price of bitcoin has skyrocketed to over $1000. It’s no surprise that in this Federal Reserve quantitative easing (QE) driven bubble economy that digital “assets” would be priced higher than paper assets and that paper ones would be priced higher than physical ones.
While I am in favor of consumer choice and competing currencies, including electronic currencies, I would not choose Bitcoin.
This is the case against Bitcoin.