There is one thing and one thing only that gives Bit Coin the illusion of value. That is the delusional belief that it will only go up. As with any Ponzi Scheme as soon as the new marks realize that it will not always go up. They will stop pouring new money into Bit-Coin and the jig will be up.
When you ask a Bit Coin holder, how much is your Bit Coin worth, the answer is , x amount of dollars, or x amount of euro's.
Can you imagine trying to run a business or economy with a currency as volatile as Bit Coin.
If I have a problem with Reserve Notes, I can petition Congress or the Reserve Board. When I have a problem with Bit Coin, who do I complain to?
What does Bit Coin offer as a currency that other currencies do not offer? The only thing I know of, it allows criminal hackers to get paid ransom that is untraceable.
With so much real money being spent on this delusion, what is going to happen when people realize all their money evaporated over night. It's going to make the housing bubble look like child's play.
