Thread: bitcoin mining
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Old 03-30-2013, 12:32 PM
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Creeping Incrementalism Creeping Incrementalism is offline
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Bitcoin would be an interesting idea if it were stable, in that at least you could obtain currency that the government couldn't inflate away. But you can already do that with precious metals, and it may be as easy to bury gold than to make an un-hackable Bitcoins wallet. So the only advantage of Bitcoin is crime and evading capitol controls. But as governments begin to regulate the Bitcoin exchanges, moving your money out of a Cyprus or Argentina might be trickier.

So if Bitcoin goes from 30 to 90 per dollar after Cyprus, and then the Eurozone and U.S. authorities regulate the exchanges, Bitcoins would plummet in value, maybe back down to what they were before, just a few dollars each.

Still, an interesting idea to watch.
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