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 Supposedly, why Bitcoin will never be 'real' money

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RR Phantom

RR Phantom

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Supposedly, why Bitcoin will never be 'real' money Vide
PostSubject: Supposedly, why Bitcoin will never be 'real' money   Supposedly, why Bitcoin will never be 'real' money Icon_minitimeThu Feb 13, 2014 6:15 pm
You've probably read about Bitcoin. If you're tech savvy, you might have used it. Fans hail it as the new global currency, which is why governments are turning their minds to doing something about it.

In real currency terms, its price has fallen from about $US1200 in December, to $US700 now. Next week it might be $US50 or $US1500. That's what you can expect from an independent digital currency.

You set up a Bitcoin "wallet", use "normal" money to buy some Bitcoins, and you're free to use your Bitcoin balance at any business that will accept them as payment. The computing power required to create Bitcoins in the first place limits the total supply.

Sounds like nirvana for those looking for a currency free from manipulation and destruction by governments. Some are buying Bitcoins, speculating the price will keep rocketing upward. But will it succeed?

Read more: http://www.smh.com.au/money/investing/why-bitcoin-will-never-be-real-money-20140213-32jdk.html#ixzz2tFMzFS9v

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