One of the world's biggest banks just admitted bitcoin could destroy existing finance firms

[SheilaT]

51. Didn't Bitcoins sky rocket in value a few years

ago for some completely unfathomable reason? Maybe people were speculating in them, don't know for sure.

But one thing that makes me quite wary is that they are something that can simply be created from nothing, supposedly at a steady rate until some point about thirty years from now when no more will be allowed to be created.

I can tell you that if someone offered to pay me in Bitcoins I'd tell them, no thank you. And if someone else only wanted Bitcoins I'd likewise tell them no thank you.

They really do seem much more like a slightly clever Ponzi scheme than real money.

And digital publishing has made me completely unwilling to buy anything that's self-published because invariably it's crap. Recently I purchased a self- published book written by someone here on DU, and had I had a chance to look at the physical book I absolutely would not have bought it, because the formatting was so terrible: extremely narrow margins, paragraphs not indented with a space between each. This was the physical book, and apparently the author had farmed out the formatting to someone and had never bothered to look at the result. It might be interesting enough to read, but I won't be bothering to read it, and very much regret the money I spent. If Bitcoins are the equivalent, then they will be like all those self-published books out there that aren't worth buying.