Clearly you read some of my point incorrectly. I did not say value outside of "dollars" I said outside of currency. I'm not sure why you think it would make it special by being valued in dollars, yen, etc. They are all fiat currencies based on belief and not based on anything tangible. They do not have value out of being a currency. In other words, there is no other use for them except for exchange. Gold and Silver and thousands of industrial uses that make it very valuable outside of being a currency.
Secondly, I understand people are using bitcoin right now. But just like all things, new items come around to challenge products. If a better product comes along, bitcoins will be worthless as other switch to the other product.
Lastly, law makers condemning something that it used to break the law isn't exactly the bad story I was referring it. What I alluded too was a story such as bitcoins stolen, or erased, etc.
Again, I do not doubt bitcoin will have it's run, but I suspect it will fade away. Gold and Silver have been money for 5000 years and it's value won't collapse if people decide to use something else.
Commerce with all nations, alliance with none, should be our motto. - T. Jefferson rЭVO˩ution
"Everyone wants to live at the expense of the state. They forget that the state wants to live at the expense of everyone.” - BASTIAT
Want DP delivered to your inbox daily? Subscribe here:
Content of posts and comments on