Quote:
Originally Posted by KC native
Yea, except the same thing happened to Silk Road 2.
Bitcoin is a bubble. It is a good idea but has huge flaws that will prevent it from ever becoming more than a niche product for savvy internet users.
The hoarding is also one of the problems. If bitcoins were becoming more widely used then we would see transactions in bitcoins pick up. That's not happening. People are hoarding them with the expectation that they will go up. Since the market is thinly traded, they've been going up.
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Respect your opinion but I believe the jury is still out. It may not be bitcoin but crypto-currency is coming. No harm in speculating a little. What are the flaws you mention? Agree totally about the hoarding issue, most argue quantum computing will kill current encryption entirely, not just bitcoin.
For the record I'm not gung ho bitcoin, just think its interesting with little monies invested.