Post
Topic
Board Economics
Re: Why Bitcoin will collapse in price.
by
AnonyMint
on 12/12/2013, 14:43:46 UTC
The technology behind cryptocurrencies and it's value as a financial tool to society has nothing to do with politics, tulips, its market price or any other of these arbitrary and ill-defined criteria constantly being trawled up in these debates.

In particular the comparison with tulips and constant obsession with it's market price is a total distraction from the technical innovation which cryptocurrencies bring to modern finance which is clear and unambigious.

That is that they facilitate direct asset transfers between peers *without the need for a counterparty*.

The only "tool" that society has had up till now which can do this is Gold. It's not a question of value and whether or not Bitcoin / Gold etc have *value*. Its a question of *function*. Monetary function.

You need some education.