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Wednesday, April 10, 2013

BitCoin Crash

Bitcoin is not a currency, it is a collectible, like gold.

Since Bitcoin is finally crashing, I will NOT proclaim Bitcoin is now failed, far from it.
The fundamental nature of how bitcoin works is bound to produce more bubbles.

It wouldn't surprise me if someday Bitcoins go for 5,000 a unit.
If Bitcoin can figure a way to remove the collectible - hording aspect that drives prices higher, then I may become a fan.

Until then, play at your own risk.  If this thing over-shoots and hits 20 bucks a coin, I may buy some.

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