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Old 04-12-2013, 10:58 AM   #512
rogue
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Quote:
Originally Posted by BigWrecKs View Post
The problem is the Bitcoin has no physical form. If the bank crashes and steals all of your 1s and 0s, then your physical dollar buck still retains some sort of value (given the value of the dollar overall hasn't tanked).

I think the volatility of Bitcoin will be its demise. OVerall, it's nothing more than an ultra-risky stock except you don't get any sort of certificate of ownership and if your wallet file gets corrupted then you lose everything. It's impractical.
Dollars have physical form, yes, but I have physically $25. The rest is virtual. I see it on a web page. Sure, I get a paper statement in the mail once in a while, but it's just a printout. I can't exchange it for money.

Volatility is killer. If this thing magically stabilized, that'd be one thing... but the price is being artificially inflated by speculators all running to buy in just so they can day trade that **** or hold it for long term profit. From what I can tell, very few actual things are being purchased with those bitcoins at this point, it's mostly just stock market nutters.
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