The question I have is "what useful purpose does bitcoin serve?"
Currently it appears to be mostly a speculation vehicle and a way to hide unsavory financial transactions from prying eyes.
It serves no purpose as a currency currently because its value fluctuates so wildly.
Currently it appears to be mostly a speculation vehicle and a way to hide unsavory financial transactions from prying eyes.
It serves no purpose as a currency currently because its value fluctuates so wildly.
As with any financial transaction, the current issues should be analyzed non-emotionally to determine whether this equivalent to a dollar crisis moment or if this is a moment equivalent to the Confederate currency moment in regards to bitcoin's future. This is in the end a medium of exchange and perhaps might be an opportunity. Certainly I wished I had listened to some of my early adopter friends when bitcoin was at 1$, of course if their money got stolen, that is a serious problem that needs addressing, but theft of money and counterfitting has occured since the first coins were made.
The issues around bitcoin reminds me of discussions in the early days of the internet skeptics when people stated why would I want to look at something online when I can have the catalogue in my house?