Will Bitcoin boom or burn?
The main stream media continues to comment about Bitcoin and other emergent ‘crypto-currencies’, referring to it as ‘boom’, ‘investment’ and ‘currencies’. Pity they didn’t take the time to read Extraordinary Popular Delusions and the Madness of Crowds. Published in 1841, the book describes precisely what’s happening and what WILL happen. Bitcoin is not a legal tender, it’s not represented via coins or banknotes, it is not supported by even a single nation, so the question arises whether it actually could be called a ‘currency’. Anyone who put money into this pyramid scheme will get burnt, sooner rather than later.