Mar 1, 2017

Bitcoin Is Not Money, It's a Speculative Asset!

Bitcoin is not digital gold, it is digital fools gold. Today's Bitcoins can be tomorrow's Bitty babies. The whole principal behind Bitcoin was to replicate the properties that made gold uniquely suited to be money, act as an alternative to fiat currencies but it is not really viable as money, it is a potential medium of exchange but it is not a store of value. Meanwhile nobody really uses it as a medium of exchange, it is a speculative asset, people own it because they think it will be more valuable in the future but it has no intrinsic value of itself.