[LINK] Bitcoin is hitting new highs—here’s why it might not be a bubble

[Craig Sanders]

On Mon, Nov 20, 2017 at 02:51:24PM +1100, Frank O'Connor wrote:

> It’s still ostensibly a solution in search of a problem, without any
> of the structures, processes and safeguards that protect and add value,
> predictability and stability to other more conventional currencies.

stability and safeguards ARE the problems that bitcoin is solving -
bitcoin and other crypto-currencies exist due to the worshipful envy that
anarcho-capitalists (i.e. basement-dwelling Libertarians) have towards the
finance industry and the crimes they got away with (and were rewarded for)
that led to disasters like the GFC.  It allows them to play the same scams on
a much smaller scale.

Remember - Americans don't see the phrase "caveat emptor" as a warning, they
see it as a legitimate and profitable business model.

craig

--
craig sanders <cas at taz.net.au>