Bitcoin, a very first digital currency by Satoshi is the mother of all Ponzi structures.
It will smash and dwindle at some point. But on the way to its foreseeable death, the ride may make much additional money make you insanely rich.
This is a worldwide high-velocity bubble, the first in which the entire world can easily contribute or participate in.
And so it could be ENORMOUS.
But it will close in tears.
Why? The problem isn’t that Bitcoin is numeral or digital.
Now, let’s suppose I have started a paper currency i.e., Rabia dollar that I cannot print more than 1 million ever, just like the cap on Bitcoin.
The problem is would anyone use, or give a value to, that coins or currency?
If I was the first person to consider this, I might get some grip but once everyone sees others making new paper currencies, the Rabia Dollar will break down.
The same thing happen with Bitcoin too. Bitcoin is an open source numerical exchange so it’s damn stress-free to copy, and those copies can be enhanced on, which is what we’re seeing trendy.
Bitcoin is a rip-off, while block chain machinery has uses, it’s enormously vaunted in large part due to Bitcoin itself.
The future of money is digital. But it’s not Bitcoin…