The danger with Bitcoin is its a car with no breaks, its the perfect speculators currency that can bubble up and fizz pop, purely unrelated to anything but belief in it. Cartoon style careen from tree to tree. Its not enough for a virtual token of currency to be limited in supply it must have a secondary measure of utility other than that of pure speculation. Gold also has its real world uses. Bitcoin has no use but speculation ? and therefore is not a civil currency. The people who whore the markets out for their own selfish profits, dont need any more speculative toys to play with !
speculative behaviour in its unfettered form is a cancer on society nought more than putting 200 dollars on red the end of the spin and the the week its worth 900 dollars, that has to be the ultimate speculators currency, and where ultimate speculation runs, misery is soon to follow either for the investor or those who suffer the consequences of it. For instance with bitcoin, being that its based ultimately on speculative belief in its value, and that value thats invested in it is taken from some other token of value and placed in bitcoin instead, in that sense they’re are the losing currencies, who value is stripped form them to fund it, the problem being that those established currencies are already weak, pure speculation where the value of something multiplies by a factor of 4 in a week without in any way having reduced entropy in the human world in any useful way, are exactly that speculative currencies behave like and are therefore easily recognisable, And if governments don’t reign in or control such speculation in society it will ultimately erode at the hard won spine of steady measured fiscal prudence, which is already battered enough and destroy the non speculators and small savers value. Unfettered speculation is a cancer if we don’t limit it, the world will be full of gibbering morons just waiting for the next crap to speculate on.