I’ve been following the Bitcoin for the last year or so. When I initially heard about a vitual currency, I immediatly thought it was kind of cool. That says the more I’ve read and heard, it just makes no sence at this time.
First of all there is absolutely no way to value it. Secondly, most people don’t understand it and they are not going to buy or use a currency wich value moves around 20 percent in a day.
What makes a currency works is that this is backed by the full faith and credit of the Nation that issues it. I firmly believe someday there will be a virtual currercy. It will be probably 25 or 50 years or even sooner. That being said it will not be a virtual currecy through a corporation. It will be more than likely be a currency backed by the full faith and credit of
a community of nations.
I see the future of Bitcoin like any other high flying Niche stock. We’ve seen its rise, we will see its fall. I could not predict when the fall will come. That’s always been the problem with cult stocks. They hang around until the money needs to move into the next new or incredible thing that’s going to change the world.
Trader – Author Rhino Report