Bitcoin any Good?

byWJC

565 followers

11 years ago

Bitcoin is indeed a currency just as much as the paper we carry around in our wallets. That should tell us something.

There is a difference between currency and money. A huge difference. Money is a store of value and currency has an intrinsic value of zero. Sure, we can trade with currency and it gives the illusion of value because we can buy things with it. Until something happens, and that something is called a currency collapse. That is when a currency correction takes place and the real value of the currency is realized. That value is zero, and only money will be accepted at that point. So you really need to ask yourself if you have any money. Not currency, but money. Currency is suppose to be backed by money, but since governments around the world have decided to print without any backing, currency is losing its purchasing power and will eventually reach its true value of zero.

Don't run from one currency to another currency. They are both the same, i.e., their true value is zero! Any currency that comes into existence, created by man, will always be worthless eventually because it was never a store of value to begin with.

Now, if you are after money and there isn't enough to go around wouldn't it be good for you to promote currency. It would be easier for you to collect and hoard money over time because everyone else is looking to buy something of value but not sure what. You could invent something like Bitcoin simply because people don't know it is the same thing as paper money, currency in another form that is not backed by money.

BTW, I am a fan of bitcoin and i'm glad that some people are having fun with it, but to me, it is no different than the stock market. You need to get in and out at the right time and trade your gains for something of real value before all is lost.

Just remember one thing. If bitcoin or any other currency becomes the new global currency; then nothing changes, and the central banks won't care because they are collecting and hoarding money and giving the currency to you!

Now, it is important that you understand that this post is just my opinion. I do not claim to be an expert on Bitcoin, Money, Central Banks, or the Stock Market. But, there is one thing that I do know, and that is the markets are manipulated. Wealth does not disappear, it just changes hands.