“Why Bitcoin will go the way of the tulips” – Financial Review | $7,058.75

“At a more fundamental level, we should wonder why Bitcoin exists at all. There is no reason. We can already trade almost anything that is legal over the internet and pay for it in various ways. It’s fast, convenient, inexpensive and quite safe.”

“We can predict the collapse of the value of Bitcoin, even when it may rise for a little

while longer. The introduction of exchange-traded futures may signal the start of this

process. Give it a year, maybe less. Bitcoin will become a case study for economics

students, teaching them about irrational crowd behaviour.”

The backbone technology is real and its value to consumers is real. And therefore, it will survive. Bitcoin as a digital “currency”, won’t.