04-10-2013, 04:17 PM
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not a backed currency, yet no intrinsic value either. tries to be both and neither at the same time, depending on what you ask.
its uncharted economic territory, but maybe it has legs in the long term? in the short term it seems pretty clear to me that the buying is based on hedging and mistrust of european banks, especially cyprus who is seizing bank deposits.
economically, it would be pretty awesome if there were one global currency that isnt manipulatable by governments. one less way of governments to fuck with free markets.
not so sure if bitcoin is the long term solution though.
not a backed currency, yet no intrinsic value either. tries to be both and neither at the same time, depending on what you ask.
its uncharted economic territory, but maybe it has legs in the long term? in the short term it seems pretty clear to me that the buying is based on hedging and mistrust of european banks, especially cyprus who is seizing bank deposits.
economically, it would be pretty awesome if there were one global currency that isnt manipulatable by governments. one less way of governments to fuck with free markets.
not so sure if bitcoin is the long term solution though.