There are a few things about Bitcoin that are important to note.
- While exchanges and legality of use can be regulated, Bitcoin itself cannot.
- If you properly secure your Bitcoins, no one under any circumstances can steal them from you.
- Bitcoin has ZERO inherent value. It is as worthless/valuable as any other currency.
- The only thing that gives Bitcoin, dollars, gold, or other mediums of exchange any value is the properties they possess that make them attractive to anyone that conducts business that needs a medium of exchange. Today most everyone uses some medium of exchange daily. The reason Bitcoin has value is because it fulfills many of the most desirable aspects of a good medium of exchange and does not have many of the negatives. The fact that no single entity; person, business, or government controls its issue is very attractive to many. This stability of process that will not be changed on arbitrary events like economic depressions, changes in administration, population change, etc is another thing that gives it value.
- Time will only tell what happens with Bitcoin. It is important to note that Bitcoin is only in year 5 of a 150 year production period.
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