Saturday, January 25, 2014

EDISON'S REVENGE?

Bitcoin. Originally a Thomas Edison idea, but his was based on real commodities and strangled before birth by the US bankers. But Bitcoin reborn seems more like a digital get rich quick if you're through the door early enough, kinda guy. Yes, you will see that great profits can be made in trading in this virtual currency (the software was developed by Satoshi Nakamoto  in 2009 but he disappeared into thin air the year later.) So is Bitcoin just another ponzie scheme or pyramid of emperor's clothes? Say all the world bought into Bitcoin. Eventually, what would  make it any different from anything man or woman has ever invented to trade with? For there has to be winners and of course losers. Fundamentally at heart, it looks to be just another system based on "belief." If enough folk buy into this belief - and buy low, sell high - it works for them; and if not? Well, we've all seen where that ends up!


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