Post
Topic
Board Bitcoin Discussion
Re: Bitcoin bubble
by
Aneelal
on 06/12/2017, 17:29:16 UTC
No part of the financial system is exposed by Bitcoin, and it’s behaviour means it never will be. It’s impossible to price in it for more than a few minutes, so it just can’t be used contractually in normal business. To hedge it, you would have to revert to normal currency, which sort of defeats the purpose, no?
Look at countries whose currencies got out of control like Argentina for a while or Venezuela. Everything ended up priced in dollars, because otherwise external business is impossible.
And no country is going to accept it has pay some random people a fortune for use of a currency it didn’t create. I see the Bank of England is looking into creating its own blockchain currency. And it won’t require huge amounts of computer power, it will just be created and registered.