Bitcoin is a non-thing. It will never be able to have an independent, sovereign value on its own, because it is a non-thing, just like all currencies in the world today are non-things, including the (temporarily) Almighty Dollar, which became an absolute non-thing precisely on Sunday, August 15, 1971.
The creators and promoters of the Bitcoin are perhaps acting in good faith, but they are individuals enthralled with technology. The Bitcoin may indeed be a technological marvel, but the creators and promoters of the Bitcoin do not understand money, and they do not understand that the creation of money cannot be accomplished by technology, no matter how sophisticated it may be. The ignorant public of today is also bewitched by the marvels of technology and has been thoroughly deceived by false economists about what money is and must be, and this opens the way for such fantasies as the Bitcoin.
I stand by my opinion that the Bitcoin is, in fact if not in intention, a fraud; it is an attempt to muscle-in on the enormous scam of universal fiat money, which is a curse upon mankind. And as a scam, it will go to the dust-bin of History, along with the world’s present fiat money system.
Owner at 99 Coins ltd.
Blogger and owner of 99Bitcoins. I've been dealing with Bitcoin since the beginning of 2013 and it taught me a lesson in finance that I couldn't get anywhere else on the planet. I'm not a techie, I don't understand "Hashes" and "Protocols", I designed this website with people like myself in mind. My expertise is online marketing and I've dedicated a large portion of 99Bitcoins to Bitcoin marketing.