Originally Posted by 77bigmac77
he is right about them having no place in an actual world economy though
a different economy yes, but not on freaking Wall Street
the place they were designed to combat
The current value of BC is inflated by people speculating. There simply isn't enough currency there to prevent market manipulation (the market is too shallow).
What's beautiful to watch is people claiming that BC is different, valuable, and viable while simultaneously getting screwed by an in-progress pump-and-dump of the first order. BC is way too susceptible to market manipulation. It's basically acting as an unregulated stock at this point. Nobody, and I mean nobody, is buying BC because they think they are the currency of the future. They are buying them because they think they will gain value against the dollar.
BC is irrelevant as long as its value is pegged against the dollar or the Euro. Well, except for people buying on SR or laundering money.