Posted by: Colin Bunn<\/p>\n
I believe that India was very smart in issuing a warning about Bitcoin. In truth, I believe that an unregulated currency can never succeed. In every instance through out history, when ever a currency becomes unregulated it results in a complete collapse of the system. Interference with the overall value of any currency can have dire consequences but it is a necessary evil to have. Regulation serves the exact same purpose as taxes or a citizen ID card. It helps keep order and manage information. With no management, Bitcoin will inflate to such a level (and it maybe already has) that it will not be viable to use. Right now you can’t even buy the essentials of life, standard food, water, clothing, and shelter with Bitcoin. For the average person, its worthless. Only people conducting shady internet deals, massive exchanges of wealth, or buying online video games from platforms like Steam or Origin can use Bitcoin at any meaningful capacity. Currency has the value we place on it, or so most assume. The common value can be swayed which is what institutions like Federal Banks do. This is what institutions like the Mint do. Bitcoin might go the way of the South Sea Trading company or the .Com bubble. People are so excited for it to succeed but don’t understand how it makes money. And the sad truth is, Bitcoin doesn’t make money. You can’t liquidate your Bitcoin investment. Currencies like Bitcoin will be failures because of one of their biggest selling points. They are unregulated. I’d advise people to listen to India’s warning. Bitcoin is a farce.<\/p>\n","protected":false},"excerpt":{"rendered":"
Posted by: Colin Bunn I believe that India was very smart in issuing a warning about Bitcoin. In truth, I believe that an unregulated currency can never succeed. In every instance through out history, when ever a currency becomes unregulated it results in a complete collapse of the system. Interference with the overall value of any currency can have dire… Read more »<\/a><\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[32],"class_list":["post-1385","post","type-post","status-publish","format-standard","hentry","category-analysis-post","tag-bitcoin"],"_links":{"self":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts\/1385","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/comments?post=1385"}],"version-history":[{"count":1,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts\/1385\/revisions"}],"predecessor-version":[{"id":1386,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/posts\/1385\/revisions\/1386"}],"wp:attachment":[{"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/media?parent=1385"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/categories?post=1385"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/baileyonlineclassroom.com\/southandcentralasiablog\/wp-json\/wp\/v2\/tags?post=1385"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}