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If that is the case, then why are these companies accepting Bitcoin payment: Virgin Galactic, Overstock.com, TigerDirect, Dish Network, Expedia, Newegg, Directnic, Microsoft, Zynga, Starbucks, and Subway.
I think there are a number of factors in play with crypto currency not least of which is FOMO - fear of missing out! It is a volatile market and there are way too many coins out there - over 1500 now with more coming - see icowatchlist.com[^]
As an aside, I have a friend who was paid 10 bitcoin for a job a few years back and no longer has any idea what he did with them!!!
Also, there was an article the other day about a guy that bought 25000 when they were a dollar a piece - now worth over 420 million!!!
They may want to protect their assets. Funny thing about tech, most people don't understand it. They just know it's new. The market loves new stuff to play with. People get bored. The same thing happened with the dot com bubble. The people that were smart enough to get in at a great time will hopefully be smart enough to get out or protect their assets before the market corrects itself (via a crash, etc.).
No, because the point of a central bank is to control the money supply with the intent of keeping the value stable. They don't always succeed, but have done a remarkably better job than commodity-backed currencies. (Right now Bitcoin is a speculative commodity, not a currency, despite claiming a similar name.)
Last Visit: 31-Dec-99 19:00 Last Update: 13-Dec-17 11:07