Warning Signs About Another Giant Bitcoin Exchange

Re:Warning Signs About Another Giant Bitcoin Exchange by peteretep on Tuesday November 21, 2017 @08:15PM (#15753362)

    > BTC is failing as a currency because
    > it's in a speculating bubble

This feels pretty inevitable. There's no reliable tie to any economic activity, virtually no raw materials are priced in Bitcoin, and there's no central institution that can price stabilize, so pricing anything in Bitcoin (rather than: x USD/EUR/GBP/whatever as Bitcoin) seems a long way off.

It's also -- comparative to fiat or commodities -- massively untested, so price shocks seem inevitable. Regulatory or technical risks that could reduce (or massively inflate) the value seem almost certain.

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Re:Warning Signs About Another Giant Bitcoin Exchange by ActsJuvenile on Tuesday November 21, 2017 @09:34PM (#15753744)

Apparently Bitcoin is trying to re-position itself as Digital Gold instead of currency now.

https://multicoin.capital/2017/09/21/bitcoin-better-digital-... https://medium.com/@tuurdemeester/bitcoin-digital-gold-or-di...

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Re:Warning Signs About Another Giant Bitcoin Exchange by umanwizard on Tuesday November 21, 2017 @11:33PM (#15754265)

What does it mean that "Bitcoin is trying to re-position itself" ? There is no central "Bitcoin" organization, and the only person who might have been able to speak with authority about the goals of the project hasn't been heard from in years.

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Re:Warning Signs About Another Giant Bitcoin Exchange by kobeya on Wednesday November 22, 2017 @01:22AM (#15754751)

Bitcoin was always digital gold. That was it’s value proposition from the beginning: a return to the gold standard, in digital form.

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