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Dec 12

The Future Of Bitcoin

Litecoin shot up over the last few days giving rise to the uninformed masses (many of whom were journalists) once again berating Bitcoin as something that will inevitably fail. Between articles citing that "pump and dump" is the future of bitcoin, and that it is valueless because it is based on "nothing." Fiat money has been in circulation since 1000 AD and has no intrinsic value. It's first recorded use was in ancient China, and every single US dollar is a form of Fiat money since we abandoned the gold standard in 1971. Credit cards, are literally a system of debt at interest against valueless fiat currency, and at a fixed rate against even more valueless currency, even that still seems to be going strong.

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