I used to be really interested in Bitcoin until I read an article by Warren Buffet and he was talking about no getting caught up in the illusion of bitcoin and he was saying that it is something that will not last that long. So I think after I read that I was really turned off by the whole bitcoin thing and I think it is something that will not be around for too long but then again who knows only time will tell us.
Wouldn't the drugs just push for more into money Bitcoin LOL? If drugs had to do with the depreciation in value then why was it not on the news? Then again I never used the bitcoin before.
there are a ton of uses for gold like electronics and jewelry. Bitcoins? you can barely spend them unless you are willing to drive an hour out of your way. And online poker... The only demand there actually is for it is because of speculation that it will be higher tomorrow, it is a house of cards. No real currency could lose 80% of it´s value in 6 months. It isn´t a currency, it isn´t a commodity, it is just random hype like beenie babies. OMG, I have to spend $50 on this $2 beenie baby because in 6 months it could be worth $500. it is the same phenomenon that is going on with bitcoins, there is no intelligent basis to anything about it except a bunch of people thinking they can sell it for more tomorrow then they can today.
The Feds raided a big drug dealing network that was using bitcoins. They confiscated the bitcoins and sold them in an auction. It hasn´t made mainstream news, but you can read about it online if you want. Just google ´ dread pirate roberts bitcoin´ or something like that and you should get plenty of news articles.
