Quote:
Originally Posted by rcooled
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Fact..we have seen a huge FALL OFF IN VALUE of Bitcoin back when the Equity markets were crashing and burning in March. Need I say that this event does not inspire confidence in Bitcoin as an alternative currency.
Then one has to wonder what happens to Bitcoins let alone their value if the Grid goes down and or the electric power goes off? That lost of electric power is a fact, as this past weekend in San Diego County and in Northern Cal in the recent past. So there is a very real probability that that can occur give a dire set of economic, political or social factors.
Given that I discount the viability of Bitcoin as a alternative currency.
Given the long term tendencies of human nature, mankind wants to have something one can hold in their hands that they percieve as being of ever lasting value. Hence the attraction to Gold, Silver, precious gems over more than 5000 years of human history. Those assets have a UNIVERSAL appeal to mankind.