What happens when the power goes out and your credit card doesn't work?
Much as I enjoy the sound of clinking coins, I never use cash these days. And, behold, while at the store the other day, the power went out thanks to a snow-covered falling branch. ZAP! That was the end of my shopping experience. Left my basket of goodies on the conveyor belt and split.
So it is with any electronic money. Problem with bitcoin is that it is being subjected to strange manipulations and speculation. The relative value of the bitcoin to a dollar as wildly swung between what, $11 and $30, currently settled at $14, last I heard.
Proponents claim it is a finite resource that is infinitely divisible: That makes about as much sense as Steny Hoyer saying "We don't have a spending problem, we have a paying for problem."
Bottom line: Any commodity is subject to machinations of the gamers, and bitcoin is not exempt from this. Still, its bound to be better than Amazon's monopolistic corporate scheme, which probably backs its "coin" with "faith of the shareholders."
"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"
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