Tuesday, November 19, 2013

Bitcoin Mania -- Just my thoughts (+playlist)




The Bitcoin mania is here. My opinions and thoughts… I compare Bitcoin to the Tulip Mania that happened in Holland in the 1600's.  What are your thoughts about Bitcoins??

3 comments:

  1. Replies
    1. LOL… Thanks Pulling, I want to do more lol been lazy. enjoying your blog!!

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  2. Posted my thoughts on your channel but for other blog readers...
    "Bitcoins has failed as a currency. Nobody in their right mind would spend it on a good or service now. The guy who couple years back ordered a pizza with it? Essentially paid $450 for a pizza. They'll be horded for the sake of hording and eventually the music will stop and someone is going to not have a chair to sit in.

    How many of these bitcoin millionaires have cashed out and have realized gains? Probably about as many of the dotcom millionaires. Since bitcoins are their own currency there is no reason to ever cash out. Its just like the goldbugs that tell themselves gold is money and everyone will use it in the future when the dollar goes away.
    Neither gold nor bitcoin will have enough to go around for everyone so society will not use it. Unless all of society is using it then your currency of choice is nothing more then a forex conversion number getting turned into dollars somewhere to buy a good or service. Which is fine, some good money to be made out of both gold and bitcoin but don't get an asset confused with currency."

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