No. of Recommendations: 12
For goodness sake, tulips, at least, had some real nominal value. Bitcoins don't even exist.
I'm no fan, but that might be a bit harsh. Not being physical isn't so bad.
Think of paying for a software license key, which is similarly just a string of bits. Of course in the bitcoin case the software doesn't do anything, but that's not 100% different from some software I've purchased over the years...
It has no value, for sure. But many things with no objective value have a market price. I don't think that the very long term price is going to be very high, but that may depend on the number of criminals who stick with it, since that's the only actual use case anyone has found.
Jim
