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Bitcoin Could Become A ClusterF*ck For The Fool's Gold Crowd

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Bill Blain: Bitcoin Futures Could Be "A Clusterf*ck Of Monumental Proportions" | Zero Hedge

Amid its meteroic rise, Bitcoin is now 20 times more volatile than the US Dollar...
Every bank knows BTC's extraordinary gains are a crowd delusion fuelled by the extraordinary promise of free wealth!
Where that price is going is clouded by a lack of clarity on the technological nuances, distorted by Libertarian/Geek monetary gobbledy-gook, confused by a plethora of me-too coin offerings, speculators who see the chance of a quick buck, and investors scared they are missing out.

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I've spent most of this week learning more and more about the limitations of Blockchain and two things are crystal clear – it doesn't work, and it's an evolutionary dead end that nimbler cryptocurrencies will take the niche of. But I still don't understand why we need them at all?

If its central banks you object to, let's have a private cryptocurrency based on gold, or oil, or something else tangible… but based on some computer babble? Not for me. out.

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