Bitcoin money is speculative virtual or traditional “paper” money with no collateral or backup real wealth if the currency collapses. If the controllers of bitcoin decide to take down the fake monetary system on a whim or reduce its value via a secret computer algorithm you will become impoverished with less or no value or money for what you have invested. A bitcoin crash to zero is a realistic probability if those controlling the monetary system decide to steal it all from you.
The basic idea of bitcoin is a worldwide currency which is an ultimate ideal currency but any worldwide currency should be tied to tangible assets such as commodity mines, real estate, and solvent businesses manufacturing real products and/or services. The currency should not be a speculative currency which is inflated by a computer algorithm and based on no real tangible value or matter and/or energy.
Governments like the United States and China are counterfeiting currency or printing money without tying it logically to the growth of tangible assets in the GNP and inflating the money supply causing worldwide prices to go up and concentrating the wealth into fewer and fewer hands and impoverishing many in the middle class who are in great debt and paying exorbitant interest rates. There is a great danger that in the not so distant future we will once again have feudal like lords or the elite at the top and billions of serfs living at subsistence levels or working for subsistence wages without hope of advancement.
The world will eventually need a worldwide currency to avoid wars between nations but a just one which is tied to reality and a currency which is not a speculative crap shoot which can implode at any time. What is realistically needed is a currency which maintains its value or purchasing power without inflation on into the foreseeable future of the world. The bitcoin scam is definitely NOT that JUST worldwide currency for all its inhabitants.
In fact bitcoin is now being used to hide illegally made money and to transfer wealth across international borders without paying a tax.
You can see by the chart that there is a bitcoin bubble or an irrational increase in value and when it bursts the shit will hit the fan!!!!!!
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