Bitcoin -- the new currency?

Discussion in 'The Club House' started by PanBaccha, Apr 24, 2013.

  1. PanBaccha

    PanBaccha New Member

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    Anyone know exactly what is a Bitcoin? And how does it evolve, at least potentially, to becoming the new currency internationally? Is this just a titillating concept of some complexity that might not have the value it hopes of achieving? It proclaims some sovereignty in that it excludes central banks and governments from prying into personal affairs. I understand that it is growing worldwide. But for how long? Will it last?
     
  2. ScottA

    ScottA FAA licensed bugsmasher Lifetime Supporter

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    I am very skeptical of it. The only thing unique about it is scarcity. There's nothing else backing it up. It's fiat currency, just private fiat currency.
     

  3. PanBaccha

    PanBaccha New Member

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    Yes, you're right Scott. I can't help wondering if it's not in the realm of a Ponzi scheme. Perhaps not at first, but fearfully later.
     
  4. MisterMcCool

    MisterMcCool Well-Known Member Supporter

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    Bushmaster AR-15 for sale. 25,000 bitcoins.